Speeding Up Remodeling of Garak Geumho in Songpa Triple Station Area

Approval of Union Establishment... Just a Month and a Half After Promotion

Apartment complex view in the Seoul area.

[Asia Economy Reporter Kim Hyemin] The remodeling project of Garak Geumho Apartment, considered a 'triple station area' in Songpa-gu, Seoul, has gained momentum.

According to the maintenance industry on the 12th, Garak Geumho in Garak-dong, Songpa-gu, received approval for the establishment of a union from the Songpa District Office on the 8th. This came just a month and a half after holding the inaugural general meeting for the remodeling union establishment at the end of May. For remodeling projects, a resident consent rate of 66.7% is required to establish a union, and in this complex, the consent rate was 72.16% out of 691 union members.

Built in 1997 and now entering its 25th year, Garak Geumho has a considerable size with 915 households. It is located on the main roads at the intersection of Songpa-daero and Yangjae-daero, close to Songpa Station on Subway Line 8 and Garak Market Station on Lines 3 and 8. Once the Wirye-Sinsa Line passing through Garak Market Station opens, it will become a triple station area. This is why it is regarded as having excellent transportation accessibility within Songpa-gu.

Due to a high floor area ratio of 397%, Garak Geumho chose remodeling over reconstruction early on. The union plans to expand the exclusive area per household and secure parking spaces through remodeling to transform into a newly built apartment. The number of households is planned to increase to 1,052. A representative from the promotion committee said, "With the establishment of the union, we will accelerate subsequent procedures such as selecting a construction company."

Nearby complexes are also actively progressing with remodeling. Garak Ssangyong 2nd in Garak-dong recently met the resident consent rate criteria for union establishment and plans to hold an inaugural general meeting at the end of next month. Garak Sang-A 2nd in Ogeum-dong, adjacent to Gaerong Station on Subway Line 5, secured a resident consent rate of 79.66% and received remodeling union establishment approval on the 21st of last month. This was just a month and a half after holding the union establishment general meeting on the 9th of last month. Among nearby complexes, Garak Ssangyong 1st is progressing the fastest in remodeling projects. After establishing the union, it selected the Ssangyong Construction consortium as the construction company and received a B grade in the safety inspection last December, allowing vertical extension.