Speeding Up Mokdong Reconstruction... District 6 Next Month for Zone Designation Review

Mokdong 6 Complex Zoning Review by Seoul City Ahead
14 Complex with 60 Floors Underwent Sintong Planning Consultation
4 Complex Also Announces Public Inspection for 2,384 Household Redevelopment Plan

The Seoul Metropolitan Government's review of Mokdong 6 Complex, the first among the Mokdong reconstruction complexes to apply for designation as a maintenance zone, will be held next month. Following this, the 4th and 14th complexes have also entered the public inspection phase for maintenance plans, accelerating the overall Mokdong reconstruction project and driving up housing prices.

According to Yangcheon District and Seoul City on the 14th, the reconstruction maintenance project plan and designation proposal for Mokdong 6 Complex are expected to be submitted to the Seoul City Urban Planning Committee as early as next month.

Mokdong 6 Complex consists of 15 buildings and 1,362 households and will be transformed into up to 49 floors with 2,120 households after reconstruction. Among the Mokdong reconstruction complexes, this complex has a relatively small number of households but a high floor area ratio. Mokdong 6 Complex was the first among the 14 complexes in the Mokdong New Town to pass the safety inspection in June 2020, and the rapid integrated planning was confirmed in November 2022. The establishment of the association proceeds after the zone designation, and it is known that Mokdong 6 Complex has secured more than 80% resident consent for the association establishment. A Yangcheon District Office official said, "Residents have expressed their intention to proceed via an association, and we understand that preparations for the procedures to establish the association are underway."

Mokdong 14 Complex has established a maintenance plan to build up to 60 floors with 5,007 households and has been conducting public inspection announcements since the end of April. The number of sale units included in the maintenance plan is 380 units under 60㎡ exclusive area, 2,385 units between 60㎡ and 85㎡ exclusive area, and 1,695 units over 85㎡. Rental housing is planned for a total of 547 units (305 units of 59㎡ and 242 units of 85㎡). Mokdong 14 Complex was built in 1987 with 34 buildings and 3,100 households (exclusive area 75~182㎡).

The 14th Complex is receiving advice on rapid integrated planning, so the floor plan may change. Some residents are concerned that building up to 60 floors could increase construction costs and extend the construction period. A Seoul City official explained, "For the 14th Complex, the rapid integrated planning advice has not been completed, and the building height needs to be revised and supplemented based on additional advisory results. We are also revising the 2040 basic landscape plan, so when the higher-level plan is released, we need to check for consistency."

Mokdong 4 Complex has also prepared a plan to build up to 49 floors with 2,384 households after reconstruction and conducted a public inspection announcement early last month. Rental housing accounts for 257 units out of the 2,384 households. The number of sale units is planned as 522 units under 60㎡, 1,100 units between 60㎡ and 85㎡, and 762 units over 85㎡. This complex, completed in 1986, consists of 16 buildings and 1,382 households with exclusive areas ranging from 60 to 115㎡. The maintenance plan also includes measures to establish parks and sports facilities with underground parking lots.

For complexes 1, 2, and 3, individual preparatory committees have been formed to prepare the project through rapid integrated planning advisory methods. While some residents advocate for integrated reconstruction of complexes 1 to 3, individual reconstruction preparations are progressing faster. Among the 14 Mokdong complexes, these three complexes, which were the only ones designated as Type 2 General Residential Areas, resolved the issue of zoning upgrades by creating a green space called ‘Mokdong Greenway (tentative name)’ connecting the National Assembly Boulevard upper park and Anyangcheon Stream. Among them, Mokdong 1 Complex has completed preparations for submitting rapid integrated planning. The 1st Complex consists of 34 buildings and 1,882 households with a floor area ratio of about 123%, and it is evaluated to have high project feasibility even if pursued as an individual reconstruction.

A representative of the Mokdong 1 Complex Preparatory Committee said, "About 60-70% of owners have joined the reconstruction preparatory committee for complexes 1 to 3, and we have reflected the supplementary items received from the Urban Architecture Joint Committee regarding zoning upgrades and submitted them to the district office. The maintenance plan and rapid integrated planning proposal have also been submitted to the district office."

As the Mokdong reconstruction complexes accelerate their maintenance projects, sales prices are also rising. A 65㎡ unit in Mokdong 6 Complex was sold for 1.729 billion KRW in April, up more than 100 million KRW compared to 1.6 billion KRW in February. For a 55㎡ unit in Mokdong 14 Complex, more than one transaction has occurred since March, with prices of 1.195 billion KRW last month and 1.155 billion KRW on the 3rd of this month.