Elderly-friendly houses called “Silver Stay” set to be developed
LOS ANGELES: An elderly friendly housing brand to be called “Silver Stay” is now set to be developed.
More than 300 elderly-friendly houses called “Silver Stay” will be supplied to public housing districts in Guri Galmae Station area in Gyeonggi Province.
The Ministry of Land, Infrastructure and Transport and the Korea Land and Housing Corporation (LH) announced on the 18th that they will hold a public offering of business operators from the 19th to conduct a pilot project for silver stay in the Guri Galmae Station area. Silver Stay is a long-term private rental house that provides customized facilities and services for the elderly. The lease obligation period is 20 years long.
Silver Stay can be moved in if you are 60 years of age or older. It is supplied first to homeless people, but the remaining supplies can also be supported by homeless people. The initial rent is set at 95% of similar silver facilities. Even when renewing the contract, the rent can be raised to less than 5%.
The rental deposit is compulsory for a full rental guarantee. Emergency contact devices, safety handles, and non-slip floors are installed inside the house. Services for the elderly are also provided. Emergency safety (check information), life support (cleaning and laundry), and meal services are representative.
The first project will be carried out in a block (34,593 square meters) in the Guri Galmae station district. The site is a place where 725 apartment houses with a dedicated area of 60 to 85㎡ or less can be built. If you become a business operator here, you must supply at least 300 households through silver stay. However, the remaining 425 households can be supplied by silver stay, or public-supported private leases for general households can be mixed.
Mixed silver stays are supplied first to direct descendants of silver stay residents. It allowed the generation of parents and children to live in the same complex. The goal is to create a generational exchange-type and family-friendly complex where multiple generations coexist.
Another advantage is that there are general hospitals such as Nuclear Hospital and Seoul Medical Center within a 3km radius of the site. The Guri Galmae Station area is adjacent to Galmae Station and Byeolnae Station on the Gyeongchun Line. Line 8 passes at Byeolnae Station, and the Metropolitan Area Express Railway (GTX) B line is also planned. Shinnae and Galmae Interchange are located, making it easy to access Seoul and the metropolitan area.
Silver stay operators will be given benefits such as support for investment and financing of the Housing and Urban Fund, reduction of acquisition and property taxes, and exclusion of the total real estate tax. Land is supplied at a lower price than the appraised value as an arithmetic average of appraised value and construction cost. LH will receive a letter of intent to participate from the 26th to the 27th.
The selection of the pilot project is a follow-up to the Ministry of Land, Infrastructure and Transport’s announcement in August that it will introduce new rental housing. At that time, the Ministry of Land, Infrastructure and Transport announced that it would introduce a new type of long-term private rental housing, a corporate rental housing. Real estate investment companies (Ritz), implementers, and insurance companies have decided to come up with a new business model to operate more than 100 rental houses for more than 20 years.
However, it is necessary to revise the Special Act on Private Rental Housing in order to supply related housing to general households, not the elderly. The Ministry of Land, Infrastructure and Transport plans to push for a silver stay that can be supplied only by revising the general enforcement ordinance. Next year, additional public offerings will be held focusing on excellent locations among public housing sites. The goal is to expand and supply more than 1,500 households of silver stay by promoting private public offerings targeting private land.
