| Title |
A Study of Evaluating the Effectiveness of the Floor Area Ratio Incentive for Securing Public Open Space - A Case of Knowledge Industry Center in Seongdong-gu, Seoul - |
| Authors |
Lee, Seong-Ho ; Lee, Jae-Su |
| DOI |
http://dx.doi.org/10.5659/JAIK_PD.2016.32.11.47 |
| Keywords |
Public Open Space ; Floor Area Ratio ; FAR Incentive ; Cost and Benefit ; Knowledge Industry Center ; Seoul |
| Abstract |
The purpose of this study is to evaluate the effectiveness of the floor area ratio incentive for securing public open space as a means of trade between private developers and public sector. To examine whether the open space has an influence on the building site and density, a correlation analysis based on pearson correlation coefficient is conducted between open space index and development variables including lot area, ground-level total floor area, floor area ratio, underground floor area ratio, building-to-land ratio, landscape area, outdoor parking space etc. As a result, both lot area and ground-level floor area are classified into benefit; however outdoor parking space and rent of the open space are labeled into cost. Based on the result, both short-term and long-term value of 1% floor area ratio incentive are quantified by applying modified cost-benefit simulation model. The result shows that the developers have the benefit of the incentive in the short-term. However, the benefit moves to the public in the long-term. More sophisticated incentive system should be prepared by different zones in order to eliminate potential unfairness among them. |