Sanggye Jugong 6-Danji Also Accelerates Reconstruction... Promoting New-Tong Planning Advisory Method

Submitted Maintenance Plan to Nowon-gu Office on the 15th
Transforming into a Large Complex with up to 49 Floors and Over 3,500 Households

Sanggye Jugong Complex 6 is advancing its reconstruction through the Fast-Track advisory method of the Rapid Integrated Planning. Once the project is completed, the complex will be transformed into a large-scale complex with 49 floors above ground and approximately 3,500 households. However, since the neighboring Sanggye Jugong Complex 5 is facing issues such as the cancellation of the contractor due to a contribution fee in the 500 million KRW range, the speed of project progress is expected to vary depending on the future project method and the scale of the contribution fee.

Sanggye Jugong Complex 6 Overview.

According to the maintenance industry on the 17th, the preliminary promotion committee for the reconstruction of Sanggye Jugong Complex 6 submitted an application for the Rapid Integrated Planning advisory project, including the maintenance plan, to the Nowon District Office in Seoul on the 15th. According to the preliminary promotion committee, out of the 2,646 households in the target area, 1,796 landowners and others agreed. To apply for the Rapid Integrated Planning advisory method, consent from more than 30% of landowners or property owners is required.

Going forward, Seoul City will review the maintenance plan within 1 to 2 months, and if any supplementary requirements are requested, a second maintenance plan will be submitted → Seoul City will conduct the final review and announce the decision on the maintenance plan and designate the maintenance district. If Sanggye Jugong Complex 6 is selected as the final candidate site according to Seoul City's decision, it will become the second Rapid Integrated Planning candidate site in Nowon District. If the project proceeds through the Rapid Integrated Planning system, the designation period for the maintenance district, which usually takes 5 years for maintenance plans and district unit plans, will be shortened to 2 years. Also, by utilizing the Fast-Track system, the service order period (2 months) and planning design period (6 to 10 months) can be reduced.

Built in 1988, Sanggye Jugong Complex 6 consists of a maximum of 15 floors above ground and a total of 2,646 households (floor area ratio 193%). It passed the real safety inspection with an E grade in January this year. Along with Forena Nowon, which reconstructed Sanggye Jugong Complex 8, and Sanggye Jugong Complex 5, which passed architectural review, it is among the faster-moving projects in the Sanggye-dong area. According to the maintenance plan submitted on the 15th, some areas will be upgraded from Type 3 General Residential Area to Semi-Residential Area, applying a floor area ratio of 384.68%, and will be developed into 21 buildings, with 4 basement floors to 49 floors above ground, totaling 3,542 households (including officetels).

The scale of the contribution fee is expected to be a factor determining the speed of future project progress. In the case of Sanggye Jugong Complex 5, which was accelerating its reconstruction project, the project is currently stalled due to the scale of the contribution fee. It is estimated that existing owners in Sanggye Jugong Complex 5 must pay a contribution fee in the 500 million KRW range to receive a unit with an exclusive area of 84㎡. According to the Ministry of Land, Infrastructure and Transport's actual transaction price system, on the 24th of last month, a 31.98㎡ unit in Sanggye Jugong Complex 5 was sold for 500 million KRW. The contribution fee is roughly equivalent to the housing price. A promotion committee official said, "The estimated contribution fee will be included when submitting the maintenance plan reflecting Seoul City's future supplementary requirements."