Reconstruction of Apartment Complex and Ancillary Facilities with Total Floor Area of 66,042.47㎡, 3 Basement to 30 Floors Above Ground... Project Period from May 29 for 60 Months... Project Cost Reaches 157.8 Billion KRW... 2021 Management Disposition Plan Approved, Resident Relocation and Existing Apartment Demolition Scheduled for 2022
[Asia Economy Reporter Jongil Park] Yongsan-gu (District Mayor Seong Jang-hyun) approved the housing reconstruction project implementation plan for Hangang Samik Apartment (Ichon-dong 300-301) in the Seobinggo Apartment District on the 29th of last month, in accordance with Article 50 of the Urban and Residential Environment Improvement Act.
The project implementer is the Hangang Samik Apartment Housing Reconstruction Maintenance Project Association (Chairman Yoon Mal-yeop), with 282 association members and 297 landowners. The project period is 60 months from the plan approval date (May 29), and the project cost is 157.8 billion KRW.
The zoning area is a Type 3 General Residential Area, with a district area of 17,191.1㎡ (land 16,270.9㎡, small park 454.6㎡, road 465.6㎡). The land is further divided into a multi-family housing lot of 15,112.1㎡ and an existing commercial building (to be retained) lot of 1,158.8㎡.
The building area for multi-family housing and ancillary welfare facilities is 2,851.3㎡, with a total floor area of 66,042.47㎡ (68,418.47㎡ including the existing commercial building), applying a building coverage ratio of 18.87% and a floor area ratio of 259.76%. The maximum height is 94.2m (3 basement floors to 30 above-ground floors).
The building consists of 4 blocks with 329 multi-family housing units, a 30% increase from the existing 252 units. There are 277 units for sale and 52 rental units. According to exclusive area (㎡), the units are divided into ▲44 (52 units) ▲84A (115 units) ▲84B (43 units) ▲84C (16 units) ▲114 (52 units) ▲129 (51 units), with all rental apartments being small-sized units of 44㎡.
Ancillary welfare facilities include a Moms Station, daycare center, small library, and senior citizens' center. Additionally, as part of maintenance infrastructure, the association will create roads (465.6㎡) and a small park (454.6㎡) to be donated to the district office (ownership transferred free of charge).
Hangang Samik Apartment was completed in 1979 with 12 floors and 2 blocks, with exclusive areas per unit ranging from 104.86 to 145.19㎡. The reconstruction project association, established in 2003, obtained traffic impact assessment approval in 2018 and architectural review from Seoul City in 2019.
In January this year, the association applied for project implementation plan approval to the district office, and after consultations with related agencies and public inspection announcements, the project implementation approval was granted 17 years after the association's establishment. The schedule for member sales and other activities will proceed in the second half of this year. A district official stated, "If the plan proceeds as scheduled, management disposition plan approval will be in 2021, followed by resident relocation and demolition of the existing apartments in 2022."
As of June, there are a total of 18 housing reconstruction projects in Yongsan-gu. Among them, 7 have completed association formation (Hangang Mansion Apartment, Sanho Apartment, Wanggung Apartment, etc.), 5 have formed promotion committees (Sindonga Apartment, Cheonghwa Apartment, etc.), and 5 have not formed promotion committees (Hannam Sibeom Apartment, etc.). One project (Hanseong Apartment) is proceeding via a trust method.
In particular, Hangang Mansion Apartment (Ichon-dong 300-23 area) and Sanho Apartment (Wonhyo-ro 4-ga 118-16 and two others) are awaiting project implementation plan approval, while Wanggung Apartment (Ichon-dong 300-11) recently finalized a reconstruction maintenance plan amendment to supply 50 public rental units through donation of land and other means.
Seong Jang-hyun, Mayor of Yongsan-gu, said, "Expectations for real estate in the Yongsan area are rising due to the Ministry of Land, Infrastructure and Transport's announcement of the railway maintenance depot development plan," adding, "We will create a more pleasant and livable city through multi-family housing reconstruction."
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