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Gov't Selects 6 Additional Candidate Sites for Urban Public Housing Project

Written: 2021-06-23 12:56:56Updated: 2021-06-23 15:51:34

Gov't Selects 6 Additional Candidate Sites for Urban Public Housing Project

Photo : YONHAP News

The government on Wednesday announced six additional candidate sites in the capital region for its urban public housing project in line with policies announced in February.

According to the Land Ministry, the locations are a low-rise residential area in Seoul's Seodaemun district and three areas near subway stations along with a semi-industrial district and residential zone in Bucheon, Gyeonggi Province.

The project involves allowing incentives, such as increasing the floor area ratio, to enable high-density development.

The government expects to supply some eleven-thousand-200 homes at the six potential sites, increasing total supply thus far to 239-thousand-800 units out of the 830-thousand pledged in February.

Through the incentives, the ministry forecasts the floor area ratio in the six locations to rise 65 percentage points on average and housing supply to increase on average 29 percent.

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