Taiwan Financial Asset Management Wins First Public Urban Renewal Project, Invests $754 Million in Wenshan Jing, Each Unit Valued at $20.8 Million

Taiwan Financial Asset Management Corporation announced today (21st) that, in alignment with the government's urban renewal policy, it has actively engaged in public urban renewal initiatives. On August 20, it was selected as the top-ranked applicant in the public investor selection process for the 'Public Urban Renewal Project on 11 Land Parcels, including Lot 31-11, Section 3, Xinglong Segment, Wenshan District, Taipei City' (commonly known as Wenshan Jing), implemented by the New Taipei City Housing and Urban Renewal Center.

This project marks Taiwan Financial Asset Management's first successful bid for a public urban renewal case. The company plans to invest NT$754 million to construct a 14-story above-ground, 2-story underground residential complex with a total of 68 units. Centered on the core principles of 'human-centric, ecological, and sustainable,' the project aims for completion by 2033 and is expected to generate an asset value of NT$1.415 billion, serving as a significant milestone in the company's participation in public urban renewal.

In other words, based on current market estimates, the 68-unit residential building in Wenshan Jing is projected to reach a total market value of NT$1.415 billion upon completion, averaging approximately NT$20.81 million per unit.

Gong Wenping, Chairman of Taiwan Financial Asset Management, stated that being selected as the top applicant reflects recognition of the company's professional capabilities and symbolizes the further realization of public institutions' responsibilities in urban regeneration, enhancing residential safety and environmental quality. She emphasized that the company will advance the project with a prudent, professional, and responsible attitude, continuously improving urban land utilization, revitalizing the surrounding environment, and creating safe, livable communities.

The project site is located in a block bounded by Wansheng Street, Lane 166 of Wansheng Street, and Wenshan Forest Park in Wenshan District, Taipei City, covering an area of approximately 377 ping. The total floor area is planned to be around 1,700 ping. The site connects to the Roosevelt Road MRT corridor, linking the Gongguan, Xindian, and Muzha living circles, offering convenient transportation and mature surrounding amenities. It is also near Wugong Elementary School and Minzu Experimental Junior High School, with the eastern and southern sides adjacent to Wenshan Forest Park and close to Jingmei Sports Park, providing a locational advantage that combines residential development with green living.

Considering the site's proximity to a hillside, significant elevation differences, and narrow, elongated shape, the Taiwan Financial Asset Management team proposed a construction plan that balances safety, environmental protection, and construction efficiency. The plan adopts the high-safety 'partial top-down construction method' to strengthen slope and adjacent building structural protection, minimizing the impact of excavation on the surrounding environment. Additionally, through 'on-site earthwork balance,' the eastern landscape ecological mound will be reshaped, reducing off-site soil transportation and minimizing traffic disruption in alleyways, aiming to seamlessly integrate the urban block with the greenery of Wenshan Forest Park using professional construction techniques to improve the existing environment.

In architectural planning, the project is based on human-centric transportation and ecological resilience, incorporating 13 design highlights such as alleyway restoration, pedestrian-friendly design, greenway connectivity, resilient landscaping, and community green corridors. Features include balconies in every unit to eliminate dark rooms, marriage- and child-rearing-friendly unit layouts, barrier-free community circulation, elevating the first-floor slab to accommodate the slope, and exceeding standards with Diamond-level Green Building and Silver-level Smart Building certifications. The project also aims to obtain five sustainability certifications, including the Sustainable Building Net Zero label, realizing a vision of stable living, healthy lifestyles, green-facing residences, smart energy efficiency, and age-inclusive communities.

Taiwan Financial Asset Management stated that it will subsequently collaborate with the New Taipei City Housing and Urban Renewal Center to carry out operations such as resident selection, plan review submission, relocation and resettlement, construction, and rights transformation distribution. The goal is to ensure that original residents can move into their new homes 'on time, as desired, and with joy,' providing self-owned housing units and rental brokerage matching services to establish a comprehensive resettlement mechanism, ensuring residents' housing security during the transition period.

During construction, low-noise construction methods, dust control, and safe pedestrian and vehicle guidance measures will be implemented. A two-meter-wide canopy-free pedestrian walkway will be set back along the street frontage, and YouBike public bicycle rental station equipment will be donated at the company's own expense, connecting to the Wanlong MRT low-carbon commuting network, extending the sustainability concept from the building itself to neighborhood public spaces and urban transportation.

Taiwan Financial Asset Management emphasized that it will continue to leverage the stability, professionalism, and social responsibility of public institutions to engage in urban renewal and asset revitalization, assisting the government in promoting urban regeneration. Using this project as a key starting point, the company aims to create a sustainable, livable landmark in Wenshan District that reassures the government, landowners, and citizens alike, while also serving the public interest.