'Mimisam' and 'Dongsaeng' Samho 4th also accepted at Yeonjin... Reconstruction wave in the Northeast area

[Asia Economy Reporter Kim Hyemin] The reconstruction wave is intensifying in the northeastern area of Seoul. Following Wolgye-dong Siyeong Apartments (Miryung, Miseong, Samho 3rd Complex) in Nowon-gu, known as the largest reconstruction complex in the Gangbuk area, the adjacent Samho 4th Complex has also entered the preliminary safety inspection process.

According to the maintenance industry on the 17th, the Reconstruction Promotion Preparation Committee of Wolgye Samho 4th Apartment recently submitted a consent form for the preliminary safety inspection to Nowon-gu. The preliminary safety inspection is the first step for reconstruction. Samho 4th Complex met the resident consent rate of 10%, which is the requirement for applying for the preliminary safety inspection, but is currently collecting additional consent forms to raise funds from residents for the detailed safety inspection.

Completed in 1987, Samho 4th Complex consists of 910 households and is adjacent to the Wolgye Siyeong Apartments, nicknamed ‘MimiSam’ (Miryung, Miseong, Samho). Samho 4th has coordinated with ‘MimiSam’ in the past, such as when ‘MimiSam’ was preparing to reapply for the preliminary safety inspection last year by collecting resident consent forms around the same time. This time as well, it appears that ‘MimiSam’ recently applied for the preliminary safety inspection to Nowon-gu, jointly initiating reconstruction efforts. The large-scale complex ‘MimiSam,’ with 3,930 households, is making a second attempt at the preliminary safety inspection after two years. It underwent the preliminary safety inspection in 2019 but received a C grade, resulting in a determination that reconstruction was unsuitable.

If ‘MimiSam’ and Samho 4th pass the safety inspection, a large-scale reconstruction of a total of 4,840 households will take place. This expectation is also reflected in market prices. The 50㎡ (exclusive area) unit of Samho 4th, which was traded for 635 million KRW in March, rose by 60 million KRW on the 9th of last month, just over a month later, and on the 27th of the same month, it recorded a new high at 730 million KRW.

In Nowon-gu, other complexes are also increasingly initiating reconstruction safety inspections. Hyundai Woosung Apartments in Hagye-dong, which failed the preliminary safety inspection in September last year, is currently collecting resident consent forms for a reattempt. Cheongsol Apartments in Hagye-dong have reached the 10% resident consent rate and plan to submit the preliminary safety inspection application to the district office soon. Byeoksan Apartments in Sanggye-dong are also collecting resident consent forms.