Mokdong 12 Complex, Up to 43 Floors and 2,788 Units Reconstruction... Through Association Method

Briefing Session on the 29th... Mokdong Reconstruction Enters 6th Public Inspection
Height Limit Leads to Maximum 43 Floors
"Prepared by Association Method, Less Conflict Due to Small Unit Focus"

The Mokdong 12 Complex near Yangcheon-gu Office Station on Line 2 will be reborn as a high-rise apartment building with up to 43 floors. Unlike other reconstruction complexes in Mokdong that recently adopted the trust method, this project will be promoted through the association method.

Yangcheon-gu Office will hold a public inspection announcement for the establishment of the reconstruction maintenance plan and designation of the maintenance area (draft) for Mokdong 12 Complex until the 18th of next month. A residents' briefing session related to the 12 Complex maintenance plan will be held on the 29th of this month.

According to the maintenance plan, the complex will consist of up to 43 floors and 2,788 households. The number of households by exclusive area is divided into 455 households under 60㎡, 1,502 households between 60 and 85㎡, and 831 households over 85㎡. This complex, completed in October 1988, consists of 26 buildings with a maximum of 15 floors and 1,860 households. It passed the safety inspection in January 2023 and submitted a rapid integrated planning proposal in May of the same year.

Most of the Mokdong reconstruction complexes that previously conducted public inspection announcements for maintenance plans established plans for 49 floors. However, the 12 Complex planned a maximum of 43 floors due to height restrictions. A Yangcheon-gu official explained, "The 12 Complex is in an approach surface zone, so there is a height restriction according to the Airport Facilities Act," adding, "About half of Mokdong 10, 11, and 13 Complexes are subject to height restrictions."

The Mokdong 12 Complex will proceed with the project through the association method. Since the 12 Complex mainly consists of small-sized units (exclusive area 49?72㎡) and residents are actively promoting the project, it is expected that conflicts will be minimal. Among the 14 complexes in Mokdong, six are preparing to proceed with the association method, and eight with the trust method. The procedure for selecting the project implementer will take place after the designation of the maintenance area.

A representative of the 12 Complex Promotion Preparation Committee said, "Mokdong reconstruction complexes decide between trust and association methods depending on each complex's situation, and the 12 Complex is preparing through the association method," adding, "I think the association just needs to handle things fairly and transparently."

The maintenance project will go through procedures including a residents' briefing session at the end of this month, hearing opinions from the district council, and drafting the designation of the maintenance area. Afterwards, it will proceed in the order of review by the Seoul City Urban Planning Committee, designation, and announcement of the maintenance area. A Yangcheon-gu official explained, "In the case of the 12 Complex, we are trying to draft the maintenance plan within this year. Since each complex differs in scale, facilities, and plans, the order of public inspection announcements and drafting may vary," adding, "We plan to proceed with the city urban planning committee review within this year, but there is a possibility of changes."

The 12 Complex has the lowest floor area ratio among Mokdong reconstruction complexes at 119%. It is adjacent to a private academy district behind the complex, and a Mokdong Line station is planned nearby. Within a 500m radius of the project site, there are Sintree Park and Mokdong Overpass, and within a 1km radius, there are 14 schools including Gyenam Elementary School.

The Mokdong area is designated as a land transaction permission zone, so a two-year actual residence regulation applies. Nevertheless, reflecting expectations for the reconstruction project, the Mokdong 12 Complex has seen record-high transactions over the past two months. On the 6th, a 49㎡ unit was traded for 1.05 billion KRW. A 53㎡ unit set a record price of 1.36 billion KRW on the 26th of last month. A 72㎡ unit changed hands for 1.6 billion KRW last month, breaking the previous record.