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Announcement of public notice for the maintenance plan decision and designation of the repair area (draft) for the redevelopment project of Deokcheon District 3 and holding a resident briefing session
- Area surrounding 419-20 Deokcheon-dong, Buk-gu
The ‘Deokcheon District 3 Redevelopment Project,’ located at 419-20 Deokcheon-dong, Buk-gu, Busan, has started its public notice regarding the maintenance plan decision and designation of the repair area (draft) from May 21. Buk-gu Office plans to hold a resident briefing session on June 9 to provide information related to the project and will accept opinion letters until June 20.
According to the public notice documents, the area of the maintenance zone is 80,254㎡, of which 77.4% is planned to be developed as multi-family housing. The area designation has been upgraded to a third type general residential zone, and the planned floor area ratio is set at 251% with a coverage ratio of 30%. For cultural facilities, a coverage ratio of 50% is applied. Based on these figures, it can be simply estimated that approximately 1,100 to 1,200 residential units may be newly constructed.
Currently, the construction company has not been decided, but if the redevelopment of District 3 progresses actively following Districts 1 and 2, it is expected that the area around Deokcheon Station will expand into a residential complex of over 3,000 units. As a result, major construction companies are showing increased interest.
By the year 2025, the sales price for 84㎡ units at Forena Busan Deokcheon 1 and 2 is expected to rise to between 450 million won and 690 million won. In contrast, 59㎡ units in the Bukbu Apartments built in the 1990s are trading in the mid-100 million won range, resulting in a price difference between new apartments and older apartments of about 2.5 to 3 times.
As such new supply is activated, it is likely to increase price pressures on the old downtown area. This trend is expected to have significant impacts on future market changes.
The location's competitiveness is quite high. The Sukdeung Station is located nearby, and Deokcheon Station (transfer point for lines 2 and 3) and Gupo Station (KTX) are also in close proximity, making it easy to commute to downtown Busan as well as Gimhae and Changwon.
Additionally, accessibility to main arterial roads such as Manduk-daero, Gupo-daero, and Gwanmun-daero is excellent, and various commercial facilities like NC Department Store, Mega Mart, Nonghyup Hanaro Mart, and educational institutions such as Yangcheon Elementary School are also located nearby.
If the project is confirmed, various positive changes are expected. First, the aging residential environment will be improved, and children's parks and cultural facilities will be added. In addition, a new road of 12,879㎡ is planned to be constructed to improve traffic conditions. This will secure at least 10% of public rental housing, and small rental housing below 40㎡ will be mandated.
Along with this, the provision of public facility sites and designs to activate the local economy have led to an increase in floor area ratio incentives to 15.1% through green building certification, further enhancing the project's viability.
After the public notice for the Deokcheon District 3 redevelopment project ends, the maintenance plan will be finalized, and after receiving approval from the promotion committee, the establishment of the association, selection of the construction company, and the procedure for business implementation will be carried out sequentially.
Public Announcement No. 2025-568 from Busan Metropolitan City Buk-gu
Announcement of public notice for the maintenance plan decision and designation of the repair area (draft) for the redevelopment project of Deokcheon District 3 and holding of a resident briefing session.
For the maintenance plan decision and designation of the repair area (draft) of Deokcheon District 3 redevelopment project located at 419-20 Deokcheon-dong, Buk-gu, Busan, in accordance with Article 15 of the 「Urban and Residential Environment Maintenance Act」 and Article 13 of its enforcement decree, the public notice will be issued as follows to hear the residents’ opinions. If you have any remarks, please submit your opinion letter to the Architecture Department of Buk-gu during the public review period.
May 21, 2025
Mayor of Buk-gu, Busan Metropolitan City
1. Overview of the resident briefing session
a. Date and Time: June 9, 2025 (Monday) at 14:00
b. Venue: 3rd Floor of Bukbusan Saemaul Geumgo Headquarters (86 Manduk-daero, Buk-gu, Busan)
c. Attendees: Landowners and stakeholders
d. Content: Explanation of the maintenance plan decision and designation of the repair area (draft)
2. Overview of the public notice
a. Public notice period: May 21, 2025 ~ June 20, 2025
b. Location for public notice: Redevelopment Team, Architecture Department, Buk-gu Office (☎ 051-309-4612)
[3rd Floor of Architecture Department (Gupo-dong) 587 Sasang-ro, Buk-gu, Busan]
c. Content of the public notice
1. Designation of the repair area report
| Designation Category | Type of Project | Name of Area | Location | Area (㎡) |
| New | Redevelopment Project | Deokcheon District 3 Redevelopment Maintenance Area | Area surrounding 419-20 Deokcheon-dong, Buk-gu | 80,254 |
2. Maintenance plan decision
a) Plan regarding the zoning
| Category | Current | Change | Post-Change | Percentage (%) |
| Total | 80,254 | - | 80,254 | 100.0 |
| Second Class General Residential Area | 80,254 | Reduction) 80,254 | - | - |
| Third Class General Residential Area | - | Increase) 80,254 | 80,254 | 100.0 |
b) Estimated contributions and basis for landowners
| Estimated total revenue | Estimated total project cost | Estimated value of existing assets | Estimated ratio |
| ₩ 953,039,221,320 | ₩ 729,966,889,749 | ₩ 221,725,307,270 | 100.00% |
Basis for estimation
· Estimated total assets = Sum of estimated assets for each landowner
· Estimated proportion = (Estimated total revenue - Estimated total project cost) / Estimated total assets
· Contribution for each landowner = Sales price for members - Right price
※ The above estimated values and calculated contributions may change depending on future management and disposal plans.
c) Land use plan
| Category | Name | Area (㎡) | Ratio (%) | Remarks |
| City Management Plan Use Zone | Third Class General Residential Area | 80,254 | 100.0 | Second→Third |
| Site and maintenance infrastructure (urban planning facility) | Total | 80,254 | 100.0 | - |
| Housing Sites | Multi-family housing | 62,075 | 77.4 | - |
| Maintenance infrastructure | Road | 12,879 | 16.0 | - |
| | Cultural Facility | 400 | 0.5 | - |
| | Park | 4,900 | 6.1 | - |
d) Plans regarding the main use, coverage ratio, floor area ratio, height of buildings, etc.
| Decision Category | Division of Area | Area (㎡) | Number of Units or Land Division | Area (㎡) | Location | Main Use | Coverage Ratio (%) | Floor Area Ratio (%) | Height (m) |
| New | Deokcheon District 3 Redevelopment Maintenance Area | 80,254 | 1-1 | 51,279 | Area surrounding 419-20 Deokcheon-dong, Buk-gu | Multi-family housing and supporting facilities | 30 or less | 271 or less | 105 or less |
| | | | 1-2 | 400 | Area surrounding 418-36 Deokcheon-dong, Buk-gu | Cultural Facility | 50 or less | 240 or less | 15 or less |
| | | | 2-1 | 10,796 | Area surrounding 421-8 Deokcheon-dong, Buk-gu | Multi-family housing and supporting facilities | 30 or less | 152 or less | 105 or less |
Housing scale and construction ratio
· More than 40% of the total number of houses being constructed must be 85㎡ or less
Matters regarding the construction of rental housing
· More than 10% of the total number of houses being constructed must be built as rental housing
· More than 30% of the total rental housing units or more than 5% of the total units being constructed must be built as rental housing of 40㎡ or less
Application of floor area ratio relaxation criteria
· Floor area ratio evaluation criteria and floor area ratio relaxation criteria based on Busan Metropolitan City's urban and residential environment maintenance basic plan
· Standard floor area ratio calculation: 240% (residential maintenance zone)
· Application of floor area ratio relaxation
▶ Incentive calculation when providing public facility sites
* 1.5 × (provided area ÷ remaining land area after provision) × α (200% for Second Class General Residential Area)
* 1.5 × (440㎡ ÷ 62,075㎡) × 200% = 2.1%
▶ Local economic activation incentive: 5% (for designers)
▶ Sustainable multi-family housing: 5%
▶ Green building certification: 3%
⇒ Relaxed floor area ratio: 2.1% + 5% + 5% + 3% = 15.1%
⇒ Allowed floor area ratio: 240% + 15.1% = 255.1%
⇒ Planned floor area ratio: 251% or less
e) Other Matters: Refer to the public notice documents
4. Public notice documents: Omitted from publication (available at the public notice location)
5. Method of submitting opinions: Written submission of public notice opinions to the Architecture Department of Buk-gu during the public review period
Category
Announcement
Agency Type
District
Agency
Buk-gu
Notice Number
No. 2025-568
Title
Announcement of public notice for the maintenance plan decision and designation of the repair area (draft) for Deokcheon District 3 redevelopment project and holding of a resident briefing session
Date
May 21, 2025
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