Approval of Godeok Baejaehyeon-dae Union Establishment... Remodeling in Gangdong Area 'Accelerates'

Complex within 200m of Godeok Station on Subway Line 5 'Station Area'
Plan to add 29 households through vertical extension
Concerns over challenging safety reviews and potential obstacles

Apartment buildings in the Seoul area (Photo by Yonhap News)

[Asia Economy Reporter Ryu Tae-min] Baejae Hyundai Apartment in Godeok-dong, Gangdong-gu, located right in front of Godeok Station on Seoul Subway Line 5, has completed the establishment of a remodeling association and is now actively advancing the project. Recently, following Godeok Anam Apartment surpassing the remodeling safety inspection threshold, Seonsa Hyundai Apartment also received approval for association establishment, raising expectations for remodeling projects across the Gangdong area.

According to industry sources on the 24th, Gangdong District Office approved the establishment of the remodeling association for Baejae Hyundai Apartment in Godeok on the 14th. Establishing a remodeling association requires the consent of more than two-thirds of the members. The apartment’s remodeling housing association promotion committee announced in November last year that it had secured a resident consent rate of 66.7%, meeting the requirements for applying to establish the association.

Constructed in 1995, this apartment complex consists of 4 buildings with a total of 448 households, ranging from 3 basement floors to a maximum of 22 floors above ground, composed of small to medium-sized units of 59 and 84 square meters (exclusive area). It is a station-area complex located within 200 meters of Godeok Station on Subway Line 5. The floor area ratio is high at 399%, making redevelopment practically difficult due to low project feasibility.

The promotion committee plans to sell 29 units to the general public through a ‘vertical extension’ method. Vertical extension, which adds 2 to 3 floors to each building, is more profitable than horizontal extension but requires rigorous safety reviews, including the first safety inspection, first and second safety evaluations, and a second safety inspection, making it a challenging process and thus fewer projects pursue it. So far, the only complex in Korea to have passed the first and second safety evaluations for vertical extension is Seongji Apartment in Songpa-dong, Songpa-gu, Seoul, in 2019.

Besides Godeok Baejae Hyundai, aging complexes in the Gangdong area are accelerating their remodeling efforts. Nearby Godeok Anam Apartment (807 households) passed the first remodeling safety inspection in September last year, and Amsa-dong Seonsa Hyundai Apartment (2,938 households) also received approval for association establishment in the same month. In Sangil-dong, Myeongil Jungang Heights is pursuing remodeling, and Dunchon Hyundai phases 1, 2, and 3 in Dunchon-dong are also speeding up their remodeling projects.