A Study on the Factors Affecting the Duration of Small-Scale Housing Improvement Projects: Focusing on the Block-Unit Renewal Projects

This study investigates the factors influencing the duration of Block-Unit Renewal Projects (BURPs), a type of Small-Scale Housing Improvement Projects (SSIPs). Using an interval regression model, this study empirically examines how district, locational, and economic characteristics impact the project duration of 185 BURP sites in Seoul, either ongoing or completed as of December 2022. The results indicate that variables such as the number of land parcels, land share size, distance to subway stations, interest rates, and the involvement of public agencies significantly affect project duration. Notably, higher profitability is associated with longer project duration, suggesting that the mechanisms of SSIPs differ from those of large-scale redevelopment projects. This study highlights that BURPs operate more efficiently when focused on improving living conditions rather than maximizing profitability.