Notice of Designation of Redevelopment Maintenance Area and Decision (Modification) of Maintenance Plan for B-04 District, Nam-gu, Ulsan
- Area of 1586, Shinjeong-dong, Nam-gu, Ulsan
In September 2024, the revised announcement for the redevelopment project in B-04 district, Nam-gu, Ulsan will take place, marking the official commencement of the project. This project is located around 1586, Shinjeong-dong, and covers a total area of 78,861.4㎡. It is planned to construct 1,484 apartments up to 28 floors high, adhering to regulations of 295% floor area ratio and 50% building coverage ratio, along with various community facilities.
Since being designated as a redevelopment maintenance area, the B-04 district held its founding general meeting for the establishment of a consortium last December. Recently, the consortium has conducted a founding general meeting ahead of obtaining consortium establishment approval. After the approval is completed, the procedure for selecting the construction company will follow. This redevelopment project is expected to significantly contribute to local development.
B-04 district boasts an excellent school district. It is home to Shinjeong Elementary School, Namsan Elementary School, Okdong Elementary School, Hakseong Middle School, Ulsan Seoyeo Middle School, Shinjeong High School, and Hakseong High School, making it suitable for education.
Additionally, various eco-friendly infrastructures such as the Taehwa River National Garden, Ulsan Grand Park, Namsan Neighborhood Park, and Namsan Sports Park provide a pleasant residential environment. Thus, the B-04 district harmonizes education and nature.
Looking at the current apartment prices near Shinjeong-dong, the selling price for Ulsan Shinjeong Prugio ranges from 510 million to 800 million KRW, with an average price of about 17.26 million KRW per 3.3㎡.
Furthermore, Ulsan Shinjeongdong Pulbichet's selling price ranges from 330 million to 370 million KRW, with an average price of 10.89 million KRW per 3.3㎡.
However, due to recent increases in construction costs and other factors, the selling prices may rise higher than initially expected, which could create price discrepancies with neighboring markets.
Recently, the selling price for an 84㎡ type of the 'RaelS' project sold in the B-08 district was set at 820 million to 880 million KRW, translating to a price per pyeong ranging from approximately 25.8 million to 27.8 million KRW.
Based on these selling prices, it is possible that the selling prices for B-04 district may also diverge from surrounding market prices due to rising construction costs and other factors. Therefore, it is important to approach this with a long-term perspective rather than reacting to short-term price fluctuations.
The B-04 redevelopment project is expected to improve the local residential environment and enhance property values. The project will proceed through procedures for obtaining consortium establishment approval, selecting a construction company, and obtaining business implementation and management plans.
Ulsan Metropolitan City Notice No. 2024 - 166
Notice on the Designation of Redevelopment Maintenance Area and Decision (Modification) of Maintenance Plan for B-04 District
In accordance with Ulsan Metropolitan City Notice No. 2023-193 (September 7, 2023), the basic urban and residential environment maintenance plan (modification) for B-04 district redevelopment project is announced with a topographic map, and as per Ulsan Metropolitan City Notice No. 2023-280 (December 14, 2023), a slight modification under Article 13(4) of the Enforcement Decree of the Urban and Residential Environment Maintenance Act has been made; hence the designation of the maintenance area and the decision (modification) of the maintenance plan is announced as follows.
Date: September 00, 2024
Ulsan Metropolitan City Mayor
1. Designation of Maintenance Area and Decision (Modification) of Maintenance Plan for B-04 District
a. No changes have been made to the B-04 District Redevelopment Maintenance Project Record: No changes
| Category | Type of Maintenance Project | Name of Maintenance Area | Location | Area (㎡) | Remarks |
| New Establishment | Redevelopment Maintenance Project | B-04 Redevelopment Maintenance Area | 1586 Shinjeong-dong, Nam-gu, Ulsan | 78,861.4 | - |
b. Decision Record of B-04 District Redevelopment Maintenance Project Maintenance Plan: Changes (See attachments)
2. Relevant Documents
: Available for public viewing at the Ulsan Metropolitan City Architectural Policy Division and the Nam-gu Architectural Permit Division. (Viewable on the Ulsan Metropolitan City homepage
http://www.ulsan.go.kr
)
Record of Designation of Redevelopment Maintenance Area and Decision of Maintenance Plan for B-04 District Redevelopment Project
1. Name of Maintenance Project: B-04 District Redevelopment Maintenance Project (No changes)
2. Maintenance Plan
a. Maintenance Area and its Size (No changes)
1) Record of Decision for Redevelopment Maintenance Area
| Category | Type of Maintenance Project | Name of Maintenance Area | Location | Area (㎡) | Remarks |
| New Establishment | Redevelopment Maintenance Project | B-04 Redevelopment Maintenance Area | 1586, Shinjeong-dong, Nam-gu | 78,861.4 | - |
b. Land Use Plan (No changes)
| Category | Area (㎡) | Composition Ratio (%) | Remarks | |
| Total | 78,861.4 | 100.0 | - | |
| Residential Land | Subtotal | 54,099.6 | 68.6 | - |
| Park land | 54,099.6 | 68.6 | - | |
| Public Facilities | Subtotal | 24,761.8 | 31.4 | - |
| Road | 15,936.3 | 20.2 | - | |
| Park | 7,635.9 | 9.7 | - | |
| Public Facilities | 1,189.6 | 1.5 | - |
c. Plans for Zoning and Districts (No changes)
1) Record of Land Use Designation
| Category | Area (㎡) | Composition Ratio (%) | Remarks | |||
| Existing | Changed | Post-change | ||||
| Total | 78,861.4 | - | - | 100.0 | - | |
| Residential Area | Type 2 General Residential Area | 23,570.5 | - | - | 29.9 | - |
| Type 3 General Residential Area | 54,099.6 | - | - | 68.6 | - | |
| Green Area | Natural Green Area | 1,191.3 | - | - | 1.5 | - |
2) Record of Zoning Decision
| Category | Map Display Number | District Name | Sub-category of District | Location | Area (㎡) | Initial Decision Date | Remarks |
| Existing | 18 | Namsan District | Special Scenic District | Areas surrounding 100 San, Shinjeong-dong, Nam-gu | 391,299 | 20.9.24.Ulgo 262 | - |
2) Plans Regarding the Main Use, Building Coverage Ratio, Floor Area Ratio, Height, etc. of Buildings
| Decision Type | District Demarcation | Subdivision of Households or Lots | Location | Main Use | Building Coverage Ratio (%) | Floor Area Ratio (%) | Height and Stories | Total Floor Area (㎡) | ||
| Name | Area (㎡) | Name | Area (㎡) | |||||||
| Existing | B-04 Redevelopment Maintenance Area | 78,861.4 | 1-1 | 54,099.6 | Nam-gu, Shinjeong-dong, 1843-1 | Multi-family housing and community facilities | 50% or less | 295% or less | Below 90m, below 28 stories | 259,961.98 |
| 1-2 | 1,189.6 | Nam-gu, Shinjeong-dong, 1563-39 | Public Office Building | 60% or less | 200% or less | Depends on individual law | - | |||
| 1-3 | 6,461.6 | Nam-gu, Shinjeong-dong, 1847-1 | Children's Park | - | - | - | - | |||
| 2-1 | 1,174.3 | Nam-gu, Shinjeong-dong, 1847-1 | Small Park | - | - | - | - |
Scale of Housing and Proportions by Scale of Construction
| ◦ The maximum scale of sale housing: 114.99 ㎡◦ Ratio of constructions exceeding 85㎡: 8.63 %◦ Ratio of constructions 85㎡ or less: 91.37 % | |||||||
| Category | Exclusive Area (㎡) | Number of Units (households) | Ratio (%) | ||||
| Rental | Sales | Subtotal | |||||
| Less than 60㎡ | 39 | 73 | - | 73 | 4.92 | 31.74 | 91.37 |
| 51 | 31 | 40 | 71 | 4.78 | |||
| 59 | - | 327 | 327 | 22.04 | |||
| Over 60㎡ and under 85㎡ | 74 | - | 78 | 78 | 5.26 | 59.63 | |
| 84 | - | 807 | 807 | 54.37 | |||
| Exceeding 85㎡ | 114 | - | 128 | 128 | 8.63 | 8.63 | |
| Total | 104 | 1,380 | 1,484 | 100.00 |
Matters regarding the construction of rental housing
◦ Standard: At least 5% of the total units to be built must be rental housing
◦ Plan: Construction of rental housing at 7.01% of the total units to be built (building 104 units with an exclusive area of 51㎡ or less)
Application of Floor Area Ratio Relaxation Standard (Incentives Applied)
| Category | Application Standards or Formulas | Application Details | Incentive | |
| 1. Provision of Land for Public Facilities | Base Floor Area Ratio × 1.5 × Area of Land Provided for Public Facilities / Area of Land After Providing Public Facilities | ◦ Incentive Formula = (210% × 1.5 × 5,410.8) / 54,099.6 - Area of Land Provided for Public Facilities: 5,410.8㎡ - Area of Land After Providing Public Facilities: 54,099.6㎡ | 31.50% | |
| 2. Creation of Green Buildings | ◦ Base Floor Area Ratio × [1 + Relaxation Standard (α)] - α: Applied based on the standards for green building certifications, energy efficiency ratings, zero-energy building certifications, etc. | ◦ Green Building Certification (Excellent) + Energy Efficiency Certification (Grade 1 or above) → 3%◦ Zero-Energy Building Certification: Energy Independence Rate of 40% to less than 60% → 12%◦ Incentive Formula = 210% × [1 + 0.15] | 31.50% | |
| 3. Activation of Local Economy | ◦ Provided based on the participation ratio of the construction contractor | ◦ Participation Rate of Contractor: 18% - Sole or Joint Contract: 45% and above → 9% - Subcontracting: 70% and above → 9% ◦ Designer Participation Rate: % | 18.00% | |
| Sole/JV Contracting | Above 30% | Above 40% | Above 45% | Above 50% |
| Incentive | 7% | 8% | 9% | 10% |
| Subcontracting | Above 50% | Above 60% | Above 70% | Above 80% |
| Incentive | 7% | 8% | 9% | 10% |
| ◦ Provided based on the designer's participation rate | ||||
| Designer | Above 30% | Above 40% | Above 50% | |
| Incentive | 3% | 4% | 5% | |
| 4. Residential Stability | ◦ Provided based on the additional securing rate of rental housing | ◦ Obligation to secure rental housing ratio: 5% (75 units) ◦ Additional securing ratio for rental housing: 2% (29 units) | 5.00% | |
| Additional securing ratio | 0.5% to less than 1.0% | 1.0% to less than 2.0% | 2.0% or more | |
| Incentive | 1% | 3% | 5% | |
| Total | - | - | 86.00% | |
| ◦ Possible development floor area ratio = Base floor area ratio + Incentive floor area ratio = 210% + 86.00% = 296.00% ◦ Maintenance plan floor area ratio: 295% or less |
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