35-Year-Old Dogok-dong Gaepo Lucky Rebuilt as 28-Story, 186-Unit Complex

Seoul City Holds Urban and Architectural Joint Committee Delegated Subcommittee Meeting, Approves Amendments

Location map of Gaepo Lucky Apartment in Dogok-dong, Gangnam-gu. (Provided by Seoul City)

[Asia Economy Reporter Kim Hyemin] Gaepo Lucky Apartment in Gaepo-dong, Gangnam-gu, Seoul, will be transformed into a maximum of 28 floors and 186 households through a small-scale reconstruction project.

On the 22nd, Seoul City held the 7th Urban and Architectural Joint Committee Delegated Subcommittee and announced on the 23rd that it had amended and approved the detailed development plan for Gaepo Lucky Apartment in the Gaepo Residential Development District.

Gaepo Lucky Apartment, located at 462 Dogok-dong, Gangnam-gu, was built in 1986 and currently consists of 2 buildings, up to 8 floors, and 129 households, forming a small-scale mid-rise complex. Although the complex is small, it is considered a prime location as it is right in front of Maebong Station on Subway Line 3 and across the street from Tower Palace and Dogok Rexle.

Under this plan, the complex will be transformed with a building coverage ratio of less than 50% and a floor area ratio of less than 310.53%, resulting in a maximum of 28 floors and a total of 186 households. The new apartment will include 19 public rental housing units.

Seoul City explained that, according to the 'Operation Standards for Transit-Oriented Housing and Public Rental Housing Construction,' the plan was established to secure public interest by introducing community support facilities, eco-friendly buildings, and public rental housing. This is the first time these standards have been applied to a small-scale reconstruction project.

A Seoul City official said, "It is expected to contribute to improving the residential environment for local residents and expanding housing supply."