| Title |
A Study on the Factors affecting the Duration of Urban Redevelopment Projects - Based on the Project Area, Economic and Locational Characteristics - |
| Authors |
Lee, Jaewon ; Bae, Sangyoung ; Jeong, Bosun ; Lee, Sangyoub |
| DOI |
https://dx.doi.org/10.6106/KJCEM.2021.22.3.061 |
| Keywords |
Urban Redevelopment Project; Project Duration; Influencing Factors Hedonic Price Model |
| Abstract |
This study analyzed the influencing factors for urban redevelopment projects with a relatively long project duration in the context of Seoul's increasing urbanization rate and aging. Among the business areas that have been designated since 2005 and have been approved for the management and disposal plan of the entire Seoul area, 75 business areas have been set as targets. A hedonic price model was used to analyze the project area, economic, and locational characteristics as independent variables with the project duration from designation of zones to approval of management and disposal plans as dependent variables. As a result of the analysis, the smaller the project area, the larger the area occupied per union member, the larger the land price change rate, and the smaller the KOSPI index, the shorter the required period. This study has the distinction of empirically analyzing the effect of characteristic variables considering size and economic and locational characteristics on period. It provides implications that the area of the business area, the number of union members, and economic conditions should be considered when establishing a business area. |