| Title |
Effects of Multi-Level Replotting on Inner-city Urban Development Project |
| Keywords |
도시개발사업 ; 입체환지방식 ; 환지설계기준 ; 현금청산 Urban Development Project ; Multi-Level Replotting Method ; Design of Replotting ; Cash Liquidation |
| Abstract |
This study aims to examine the possibility of applying multi-level replotting method as a new business model to urban development projects (UDPs) and compare the differences and effects among other implementation methods through simulation. We established the replotting design criteria through revising the articles of 'Urban Development Act' to carry out the scenario-based simulation on a specific rearrangement zone under the assumed business feasibility criteria. As simulation results, multi-level replotting method was verified as a new appropriate implementation method for UDPs in inner city where proprietary rights are complicated and residents participation is more required. Comparing with the existing expropriation and flat replotting method, the multi-level replotting method may reduce financial burden of public agent due to low initial cost and provide some development benefits to the land or building owners and reduce liquidation price. in case of a stagnant real estate market, the multi-level replotting method may have some business limitation to proceed because of the possibilities of cash-liquidation increase and low housing sale price. Despite the simulation results, it needs to develop more detailed business manual to actually apply multi-level replotting method to UDPs in built-up area because there are many business points and related stipulations to be considered in the business process such as properties appraisal and development benefits allocation etc. |