Table of Contents
Sasang Ju-Rye Lucky Apartment Redevelopment / Announcement of the Decision on the Maintenance Plan and Designation of the Ju-Rye 1 Redevelopment Area
- Area of Jure-dong 595, Sasang-gu: site map, location, feasibility, number of units, ratio
Busan Metropolitan City officially announced the 'Decision on the Maintenance Plan and Designation of the Ju-Rye 1 Redevelopment Project' as of November 5, 2025. This announcement comes about seven months after the resident briefing and public notice held in April 2025.
The project site is the area of Jure-dong 595 in Sasang-gu, Busan, covering an area of 92,963.2㎡. This area plans to transform part of the existing second-class general residential zone into a third-class general residential zone for a high-rise residential complex. The existing 'Ju-Rye Lucky Apartment' is a large-scale complex completed in 1987, consisting of 15 buildings with a total of 1,962 units, which has significantly aged.
According to the maintenance plan for the redevelopment, the average floor area ratio is set at 277.97%. Specifically, the first phase shows a floor area ratio of 293.29%, while the second phase has 269.10%.
The maximum height is limited to within 135m, and the total number of units is planned to be 2,242. This is an increase of about 14% from the existing 1,962 units.
The housing types will be diverse, comprising 59㎡, 67㎡, 84㎡, and 102㎡. These plans are expected to contribute to increasing local housing supply and improving living conditions.
When evaluating the feasibility, caution is essential. According to the announcement from the Busan City, the estimated ratio appears to be about 95%, which means that the members' rights value is approximately 95% of the appraised value of their properties.
If construction or project costs rise in the future, the ratio may further decrease, potentially increasing the burden on the members. If planning to invest in the Ju-Rye 1 Redevelopment, it is crucial to consider the appraisal value and ratio carefully.
Ju-Rye Lucky Apartment consists of medium and small type units ranging from 57㎡ to 102㎡. Overall, the average land share is only 13.35 pyeong, which is not favorable. Therefore, this could be a disadvantage when calculating burden fees.
Especially, the separation of the land between buildings 1~7 and 8~17 could exacerbate the differences in members' burdens. Given these factors, the land share issue of Ju-Rye Lucky Apartment must be carefully considered in the redevelopment process.
Ju-Rye Lucky is located in the Jure area of Sasang-gu and has a very favorable location. Reviewing recent actual transaction prices, as of October 2025, the price of a 59㎡ unit (10th floor) is confirmed to be 217.5 million won. Even after 38 years since its completion, it maintains a high price compared to surrounding complexes.
If the redevelopment proceeds, it is expected to transform into a new large complex with approximately 2,200 units upon project completion. However, due to the low ratio and unit structure, additional burden fees are anticipated to be a concern when investing. These variables will be crucial in future investment decisions.
Announcement No. 2025-418 of Busan Metropolitan City
Announcement on the Decision of the Maintenance Plan and Designation of the Ju-Rye 1 Redevelopment Project
1. Regarding the maintenance area of the Ju-Rye 1 Redevelopment Project located at Jure-dong 595 in Sasang-gu, Busan Metropolitan City, this is the announcement of the decision on the maintenance plan and designation of the maintenance area in accordance with Article 16 of the Urban and Residential Environment Maintenance Act, and the terrain map is also announced per Article 8 of the Basic Act on Land Use Regulation and Article 7 of its enforcement decree.
2. Relevant documents (Land Use “http://www.eum.go.kr” available for viewing) are stored in the Urban Maintenance Department of Busan Metropolitan City (☏051-888-4244) and the Architecture Department of Sasang-gu (☏051-310-4492) for public access to interested parties.
November 5, 2025
Mayor of Busan Metropolitan City
I. Designation of the Maintenance Area and Decision on the Maintenance Plan
1. Maintenance Area Designation Document
| Designation Type | Project Type | Area Name | Location | Area (㎡) | Remarks |
| New | Redevelopment Project | Ju-Rye 1 Redevelopment Project Maintenance Area | Jure-dong 595, Sasang-gu, Busan | 92,963.2 |
2. Redevelopment Project Maintenance Plan
○ Land use plan
| Type | Name | Area (㎡) | Ratio (%) | Remarks | |
| Urban Management Plan Use Zone | Total | 92,963.2 | 100.0 | ||
| Third Class General Residential Area | 92,940.2 | 99.9 | •Change from second class to third class (57,690.2㎡) | ||
| General Commercial Area | 23.0 | 0.1 | |||
| Urban Management Plan Use District | Fire District | 23.0 | 0.1 | ||
| Sites and Maintenance Infrastructure (Urban Planning Facilities) | Total | 92,963.2 | 100.0 | ||
| Land for Housing | 75,864.2 | 81.6 | |||
| Land for Multi-Family Housing | 75,864.2 | 81.6 | ∙Includes facilities | ||
| Maintenance Infrastructure (Urban Planning Facilities) | 17,099.0 | 18.4 | |||
| Road | 9,123.0 | 9.8 | |||
| Park | 6,976.0 | 7.5 | |||
| Public Office | 1,000.0 | 1.1 | |||
○ Plan for Change of Use Zones and Districts
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Frequently Asked Questions (FAQ)
Q. What are the main details of the Sasang Ju-Rye Lucky Apartment Redevelopment Project?
The Sasang Ju-Rye Lucky Apartment Redevelopment Project aims to develop a high-rise residential complex with 2,242 units on an area of 92,963.2㎡ located at Jure-dong 595, Sasang-gu, Busan in 2025.
The Busan Metropolitan City announced the decision on the maintenance plan and designation of the Ju-Rye 1 Redevelopment Project on November 5, 2025. This project plans to redevelop the aged Ju-Rye Lucky Apartment (1,962 units), which was completed in 1987, into a high-rise residential complex with an average floor area ratio of 277.97% and a maximum height of 135m, resulting in 2,242 units. Housing types will vary from 59㎡ to 102㎡, which is expected to contribute to increasing local housing supply and improving living conditions.
Q. What are the floor area ratio and number of units planned for this redevelopment project?
The average floor area ratio is about 278%, with a total of 2,242 units planned, which is an increase of about 14% compared to the existing units.
According to the redevelopment maintenance plan, the average floor area ratio of the Ju-Rye 1 District is set at 277.97%, with 1st phase at 293.29% and 2nd phase at 269.10%. The maximum height of the building is restricted to 135m, and the number of units will increase from the existing 1,962 to 2,242, which is approximately a 14% increase. The aims of these plans are to create a high-density residential environment and expand the housing supply in the area.
Q. What is the ratio of the redevelopment project, and what does it mean?
The estimated ratio is about 95%, indicating that the member's rights value is approximately 95% of the appraisal value.
According to the Busan City's announcement, the estimated ratio for the redevelopment project is about 95%. This means that the rights value held by members is approximately 95% of their properties' appraised value. If construction or project costs increase, this ratio may decrease further, increasing the burden on the members. Therefore, it’s important to verify the appraisal value and ratio carefully when planning to invest.
Q. What is the status of land ownership in Ju-Rye Lucky Apartment, and what are the issues?
The average land share is low at 13.35 pyeong, and there are significant differences in shares due to the separation of land between buildings 1~7 and 8~17.
Ju-Rye Lucky Apartment consists of medium and small unit types ranging from 57㎡ to 102㎡, and it has an average land share of only 13.35 pyeong, resulting in unfavorable conditions for calculating burden fees. Notably, the separation of land between buildings 1-7 and 8-17 may widen the differences in members’ burdens. Hence, this land share issue should be carefully examined during the redevelopment process.
Q. What is the current real estate price and location of Ju-Rye Lucky Apartment?
As of October 2025, the price of a 59㎡ unit is approximately 217.5 million won, and the location is considered very good within the Sasanggu Jure area.
Ju-Rye Lucky Apartment is located in Jure-dong, Sasang-gu, Busan, with an excellent location. Even after 38 years, the actual transaction price of a 59B㎡ unit (10th floor) is about 217.5 million won, based on data from October 2025. If the redevelopment proceeds, it is expected to transform into a large complex with approximately 2,200 units; however, the low ratio and unit configuration may lead to additional burden fees, which are variables to consider when investing.
