Redevelopment is accelerating in the Seogye and Cheongpa neighborhoods west of Seoul Station, with six private projects expected to provide about 6,500 homes, excluding Cheongpa 3, whose unit count has not been finalized. Cheongpa 1 filed for integrated review with the Seoul city government on the 11th, after securing association approval in February 2023 and selecting Daewoo Engineering & Construction as builder last year. Its 355.6 billion won ($256 million) construction contract was signed in August, covering a 697-unit complex proposed as Louis Lease Summit. The largest project, the Seogye consolidated zone, plans 2,691 units and received association approval in July after Seoul eased development rules and raised the applicable floor-area ratio (the permitted building-area-to-land ratio). Cheongpa 2 plans 1,905 units and secured association approval in June, only 12 days after applying. Redevelopment expectations have pushed up prices for aging villas (low-rise multi-unit homes, not luxury villas), with properties inside redevelopment zones selling at premiums to nearby homes. The city plans new green corridors, pedestrian routes, elevators, ramps, parks, libraries, public dormitories and other facilities, potentially reshaping the area into a mixed office, retail and residential district around Seoul Station.