Taipei to Bid Out Xinwei Complex Urban Renewal by End of July, Valued Over $18.8 Billion

Taipei Mayor Chiang Wan-an announced that the public urban renewal project for the Xinwei Residential Complex will open for bidding at the end of July. The complex, over 50 years old, is located in a prime area of Daan District and has faced integration challenges for over two decades.

The city plans to construct a 24-story building with six underground levels, featuring modern retail spaces, a nursery, and a community center. The Taipei Housing Development Center estimates the project will attract over 8 billion New Taiwan dollars in private investment and generate more than 18.8 billion New Taiwan dollars in real estate value.

Chiang visited local shops and residents in the Xinwei complex, listening to their hopes for the redevelopment. He highlighted his administration's "Urban Renewal 8 Arrows" initiative, including the "Public Urban Renewal 7599 Project" and the "Residential Complex Project," which lower the threshold for public urban renewal and accelerate community updates.

The city established a "resident station" in 2023, with dedicated planners engaging directly with the community. This approach fostered trust between property owners and the city, leading to a high consensus. The Taipei Housing Development Center reported a 90% selection rate in just 115 days during the third phase of simulated selection, demonstrating strong resident support for the public urban renewal bidding process.

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The message from landowners and communities was clear. They support the new redevelopment framework, they support stronger landowner participation, and they want to see responsible redevelopment move forward in a practical and timely manner.