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The Issues and Improvements on the Exit Strategies of Newtown and Urban Renewal Projects

  • Korea Real Estate Review
  • 2014, 24(4), pp.7-24
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

정주희 1

1한국부동산연구원

Accredited

ABSTRACT

The purpose of the study is to draw the issues regarding the exit strategies of the newtown and urban renewal projects of Seoul city to discuss future improvement tasks. The main results are as follows:Fisrt, measures are required for budget expansion for subsidizing sunk costs of project committees; handling the sunk costs of housing redevelopment association; a forum for discussion among the principal agents; follow-up of deductible expenses about sunk costs; government subsidy for sunk costs. Second, there is need for scale-up of government subsidy on infrastructure costs and increase of the number of the subsidy recipients, reform of the criteria of the subsidy budget distribution, and adoption of compulsory municipal support. Third, restarting a newtown or an urban renewal project after a field survey requires reduction of the administrative process period and conflict management. On the contrary, discontinuance of a project requires public management and supervision, and proposal and promotion of alternative project.

Citation status

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