Mammoth-scale Reconstruction of 3,350 Households Underway
Two Years After 2019 Promotion Committee Establishment Lawsuit
A view of Samik Green 2nd Apartment in Myeongil-dong, Gangdong-gu, Seoul, a complex undergoing reconstruction. A banner announcing the approval of the establishment of the association is hung on the outer wall of the complex. (Photo by Online Community Capture)
[Asia Economy Reporter Ryu Tae-min] The Samik Green 2nd Apartment in Myeongil-dong, Gangdong-gu, Seoul, has received approval for the establishment of a reconstruction association after two years of administrative litigation.
According to the maintenance industry on the 7th, the Gangdong-gu Office approved the establishment of the reconstruction association for Samik Green Mansion 2nd (Samik Green 2nd) in Myeongil-dong, Gangdong-gu, Seoul, on the 5th. This came about two years after the reconstruction association promotion committee was established in 2019.
This apartment complex is a large-scale mid-rise complex with 12 to 15 floors above ground and 2,400 households, completed in 1983. If the reconstruction proceeds as planned, it will be reborn as a mammoth apartment complex with 3,350 households, the largest single complex in the Myeongil-dong area.
Samik Green 2nd is subject to regulations prior to the current Urban and Residential Environment Maintenance Act, allowing the establishment of a reconstruction association even before passing the safety inspection. However, the Gangdong-gu Office rejected the promotion committee's approval in 2019, citing that under the current law, the safety inspection must be passed before the association can be established. Subsequently, the owners filed an administrative lawsuit, won, and eventually received approval for the establishment of the promotion committee in the same year.
Earlier this year in March, the complex received a conditional pass with a D grade in the first detailed safety inspection. In the same month, about 95% of residents agreed at the association's inaugural general meeting to apply for approval of the association's establishment. Currently, they are awaiting the results of the safety inspection adequacy review.
Samik Green 2nd, considered a barometer for reconstruction in the Gangdong area, has revived expectations for reconstruction in the southeastern region by receiving approval for the establishment of the association. Last month, the Godeok Jugong 9th Complex failed at the adequacy review stage, causing a slowdown in reconstruction projects in the Gangdong area recently.
However, due to strengthened safety inspection regulations, it remains uncertain whether Samik Green 2nd will pass the adequacy review. Yang Ji-young, head of Yang Ji-young R&C Research Institute, said, "Receiving approval for the establishment of the association is positive for the progress of the reconstruction project, but passing the safety inspection is another matter," adding, "Since market conditions may change, such as the relaxation of safety inspection standards, it is necessary to observe the situation more carefully."
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