Table of Contents
Maintenance plan decision and designation of the maintenance area for the Gaya District 5 redevelopment project
- Busanjin-gu Gaya-dong 122-18, area map, location, project feasibility
The city of Busan announced that it has finalized the maintenance plan for the Gaya District 5 redevelopment and designated the area as a maintenance zone effective October 1, 2025. This project will take place in a general residential area of type 3, covering an area of 20,148㎡ in Gaya-dong 122-18, Busanjin-gu.
This announcement, made nine months after a resident briefing held in January and a public notice, marks the beginning of significant changes for local residents. The redevelopment is expected to foster an improved living environment.
According to the maintenance plan, the complex will consist of 4 buildings with a total of 478 units, rising from 2 basements to 27 floors. This represents an increase of 199 units over the existing 279 units, with a building coverage ratio set at below 25%, a floor area ratio below 297%, and a maximum height of 81m.
The site will include 15,319㎡ for apartment buildings, 793㎡ for a multi-cultural facility, 360㎡ for a small park, and 3,676㎡ for roads. The project aims to begin operations within 4 years of the designation of the maintenance area, but a construction company has yet to be selected.
The association has proposed an expected proportional ratio of 120%. While there may be changes during the management disposal approval process, it appears that at least 40% of housing units will be 85㎡ or smaller, and rental housing will be offered at 10% or more, or 7% of the total floor area. This is anticipated to facilitate housing configurations focused on actual demand.
The location has many advantages in terms of transportation. It is within a double station area, allowing easy access to both Dongui University Station and Gaya Station on Line 2. It is also close to Gaya-daero, enhancing accessibility to the Seomyeon and Sasang areas. However, the lack of an elementary school nearby may pose some inconvenience for families with children, and the absence of certain living convenience facilities is noted as a disadvantage.
Additionally, the internal transportation network is planned to improve through the establishment and maintenance of main and minor roads, with a complex cultural facility and small park to be created for educational purposes, experiences, and relaxation for children. These facilities are expected to enhance the living SOC.
Such changes in location and facilities are likely to have a positive impact on local residents.
Examining the surrounding property prices, the Gaya Lotte Castle Gold honors are trading between 780 million and 840 million won based on a dedicated area of 84㎡. Additionally, the price for Jeongis City in Gaegum-dong ranges from 550 million to 640 million won for dedicated areas of 74 to 85㎡. These price ranges are expected to be important benchmarks for future sales prices and premiums for new apartments in Gaya District 5.
The Gaya District 5 redevelopment is a medium-scale (478 units) project that possesses many advantages, including its location in a double station area, the newly established and expanded road network, and the expansion of living SOC. However, it has the drawback of a lack of elementary schools and convenience facilities. It is expected that significant processes, such as project approval, management disposal approval, and the selection of the construction company, will clarify the viability and profitability of the project in the future.
Busan Metropolitan City Announcement No. 2025-392
Notice on the maintenance plan decision and designation of the Gaya 5 redevelopment project
1. Regarding the maintenance area for the Gaya 5 redevelopment project located in Busanjin-gu Gaya-dong 122-18, the maintenance plan decision and designation of the maintenance area are hereby announced in accordance with Article 16 of the Urban and Residential Environment Maintenance Act, and the topographic map is announced pursuant to Article 8 of the Basic Land Use Regulation Act and Article 7 of the Enforcement Decree of the same Act.
2. Relevant documents (land link can be viewed at "http://www.eum.go.kr") will be made available to the general public (interested parties) at the Busan Metropolitan City Urban Maintenance Department (☏051-888-4232) and the Busanjin-gu Building Department (☏051-605-8584).
October 1, 2025
Mayor of Busan Metropolitan City
I. Designation of the maintenance area and decision on the maintenance plan
1. Designation statement for the redevelopment project maintenance area
| Designation Type | Project Category | Area Name | Location | Area (㎡) | Remarks |
| New | Redevelopment Project | Maintenance Area of Gaya 5 Redevelopment Project | Busan Metropolitan City, Busanjin-gu Gaya-dong 122-18 | 20,148 |
2. Redevelopment project maintenance plan
○ Land use planning
| Classification | Name | Area (㎡) | Ratio (%) | Remarks | |
| Urban Management Plan Use Zone | Total | 20,148 | 100.0 | ||
| General Residential Area Type 3 | 20,148 | 100.0 | |||
| Housing and Maintenance Infrastructure (Urban Planning Facilities) | Total | 20,148 | 100.0 | ||
| Site | 15,319 | 76.0 | |||
| Residential Land | 15,319 | 76.0 | |||
| Maintenance Infrastructure (Urban Planning Facilities) | 4,829 | 24.0 | |||
| Road | 3,676 | 18.3 | ◦ Four Urban Planning Facilities | ||
| Multi-Cultural Facility | 793 | 3.9 | |||
| Small Park | 360 | 1.8 | |||
○ Plan for changes in land use (no changes)
| Classification | Area (㎡) | Composition Ratio (%) | Remarks | |||
| Existing | Change | After Change | ||||
| Total | 20,148 | - | 20,148 | 100.0 | ||
| Residential Area | General Residential Area Type 3 | 20,148 | - | 20,148 | 100.0 | |
○ Estimated shared cost and calculation basis for landowners
| Estimated Shared Cost | Estimated Total Revenue | Estimated Total Project Cost | Estimated Total Property Value | Estimated Proportional Ratio |
| 303,810,234,000 won | 258,570,726,000 won | 37,700,000,000 won | 120% | |
| Calculation Basis | ⦁Estimated total property value = sum of estimated property values per landowner. ⦁Estimated proportional ratio = (Estimated total revenue - Estimated total project cost) / Estimated total property value. ⦁Shared cost per landowner = member sale price - value of rights. | |||
※ The estimated total property value and individual shared cost calculated above may change depending on future management disposal plans, etc.
○ Plan for the primary use, building coverage ratio, floor area ratio, and height of the building
| Classification | District Classification | Household or Parcel Classification | Location | Primary Use | Building Coverage Ratio (%) | Floor Area Ratio (%) | Height (m) | Remarks | ||||||||||||||||||
| Name | Area (㎡) | Name | Area (㎡) | |||||||||||||||||||||||
| Newly Established | Gaya District 5 Redevelopment Project Maintenance Area | 20,148 | A-1 | 15,319 | Busanjin-gu Gaya-dong 122-16 | Residential Housing and Auxiliary Welfare Facilities | Less than 25% | Less than 297% | Less than 81m | |||||||||||||||||
| A-2 | 793 | Busanjin-gu Gaegum-dong 133-29 | Multi-Cultural Facility | Less than 50% | Less than 270% | Less than 30m | ||||||||||||||||||||
| Scale of Housing and Construction Ratio | ⦁More than 40% of the total housing units built will be below 85㎡. | |||||||||||||||||||||||||
| Matters related to the construction of rental housing | ⦁At least 10% of the total residential units to be constructed are rental housing or 7% of the total floor area. ⦁More than 30% of the total rental housing units, or more than 5% of the total residential units, are to be built as rental housing with a residential area of 40㎡ or less. | |||||||||||||||||||||||||
| Application of Floor Area Ratio Relaxation Standards | ⦁Application of the evaluation and floor area ratio relaxation standards based on the "2030 Busan Urban and Residential Environment Maintenance Basic Plan." ⦁Basic floor area ratio calculation: 270% (development inducement area) | |||||||||||||||||||||||||
| Classification | Evaluation Standard Score | ⇨ | Evaluation Standard Score | Land Use | Basic Floor Area Ratio | |||||||||||||||||||||
| Gaya District 5 | 84 points | Above 80 points | Development Induction | 270% | ||||||||||||||||||||||
| ⦁Application of floor area ratio relaxation: Public facility site provision incentive calculation: 65.38% - 1.5 × (2,226 ÷ 15,319) × 300% = 65.38%: Public use facility site provision incentive calculation: 6.62% - 0.5 × (676 ÷ 15,319) × 300% = 6.62%: Public interest element incentive: up to 20% incentive applied to housing-related maintenance projects: Regional economic revitalization incentive: Designer 5%: Sustainable housing: 5% ⇨ Relaxed floor area ratio: 20% + 5% + 5% = 30% ⦁Permitted floor area ratio: 270% + 30% = 300% ⦁Planned floor area ratio: below 297% | ||||||||||||||||||||||||||
Classification
Announcement
Agency Type
City
Agency
Busan Metropolitan City
Announcement Number
No. 2025-392
Title
Maintenance plan decision and designation of the Gaya 5 redevelopment project
Date
2025-10-01
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Frequently Asked Questions (FAQ)
Q. What is the location and area of the Gaya District 5 redevelopment project?
The Gaya District 5 redevelopment is implemented in the area of Gaya-dong 122-18, Busanjin-gu, covering 20,148㎡.
This redevelopment project is carried out in the area of Gaya-dong 122-18, Busanjin-gu, Busan Metropolitan City, with a total area of 20,148㎡. This zone is classified as a general residential area of type 3, for which Busan City finalized the maintenance plan and designated it as a maintenance zone on October 1, 2025. The designation of the project area was conducted through resident briefings and public notification procedures, and this announcement serves as a starting point for the creation of a new residential environment.
Q. What are the main architectural plans for the Gaya District 5 redevelopment project?
It will consist of 4 buildings with 478 total units, rising from 2 basements to 27 floors.
The redevelopment project will consist of a total of 4 buildings, comprising 2 basements and 27 floors. The total number of units will be 478, an increase of 199 from the previous 279 units. The building coverage ratio is set to be below 25%, the floor area ratio below 297%, and a maximum height of 81m. The site will include residential land, multi-cultural facilities, small parks, and roads aiming to create a pleasant living environment.
Q. What is the composition of the housing supply and the rental housing ratio for the Gaya District 5 redevelopment project?
At least 40% of housing units will be below 85㎡, and rental housing will be provided at over 10% or 7% of the total area.
The association has proposed an expected proportional ratio of 120%, and there may be some changes during the management disposal approval process. More than 40% of housing units will be 85㎡ or smaller, focusing on housing configurations centered around actual demand. Additionally, rental housing will be provided at over 10% or at least 7% of the total floor area, contributing to housing stability for residents.
Q. What are the traffic and locational conditions of the Gaya District 5?
It is well located as a double station area, with access to Dongui University Station and Gaya Station on Line 2.
The Gaya District 5 has the advantageous location of being a double station area, allowing access to both Dongui University Station and Gaya Station on Line 2. It is close to Gaya-daero, enhancing accessibility to the Seomyeon and Sasang areas of Busan. However, the lack of an elementary school nearby may pose inconvenience for households with children, and the absence of certain convenience facilities is noted as a disadvantage. The internal transportation network is also planned to improve through the establishment and maintenance of major and minor roads.
Q. What living SOC facilities will be included in the Gaya District 5 redevelopment project?
A multi-cultural facility, small parks, and spaces for children's education, experiences, and relaxation will be established.
A total of 793㎡ for a multi-cultural facility and 360㎡ for a small park are planned within the site, which will be utilized as leisure and educational spaces for residents. In particular, spaces for children's education, experiences, and relaxation will be included, contributing to the improvement of the quality of life for local residents. Furthermore, the newly established and maintained roads within the complex are expected to facilitate pedestrian and vehicle movement.
Q. How are the property prices surrounding the Gaya District 5 redevelopment shaped?
The Gaya Lotte Castle Gold Honors range from 780 to 840 million won, and Yejin GensCity ranges from 550 to 640 million won.
Looking at the property prices near Gaya District 5, the Gaya Lotte Castle Gold Honors for a dedicated area of 84㎡ are trading at around 780 million to 840 million won. Meanwhile, the prices for dedicated areas of 74 to 85㎡ at Jeongis City in Gaegum-dong range from 550 million to 640 million won. These surrounding price ranges are expected to be significant benchmarks for the future sales price and premium pricing of new apartments in Gaya District 5.
Q. What is the schedule and procedure for the implementation of the Gaya District 5 redevelopment project?
The goal is to commence the project within 4 years of the designation of the maintenance area, with the construction company not yet determined.
On October 1, 2025, Busan City finalized the maintenance plan for Gaya District 5 and announced the designation of the area. This project aims to commence operations within 4 years following the designation of the maintenance zone; however, the construction company has yet to be selected. Future project approval and management disposal approval processes are expected to lead to the selection of a construction company and the concrete detailing of the project plan.
