Industry officials said Sunday that key redevelopment sites across Yeouido are speeding up steps such as winning approval for maintenance plans and moving toward selecting contractors.
At the redevelopment area visited April 29, the shift was visible on the ground. Miseong Apartments sits so close to Exit 6 of Yeouido Station that the entrance is within about a one-minute walk.
Miseong began occupancy in 1978 and consists of five buildings, A through E, up to 12 stories (13 stories for Building A), with 577 households. It also includes one commercial building. After reconstruction, it is expected to become a complex of about 1,000 households. Expectations for improved transit access are also high, with the Sinansan Line and GTX-B line planned for the area.
Around the complex, banners from major builders including Samsung C&T, Hyundai Engineering & Construction, DL E&C and GS Engineering & Construction were posted, signaling that bidding competition is already underway.
The education environment is also cited as a strength. Seoul Yoonjung Elementary School and Yoonjung Middle School sit next to the complex, allowing students to commute by crossing a single signal. However, the close proximity to schools could make issues such as sunlight access a variable during the rebuilding process.
Project preparations are also becoming more concrete. Miseong collected opinions from land and property owners late last year and selected Haean Architecture as its designer.
A real estate agent near the site said Sunday, “Until recently, consent among owners in the five residential buildings exceeded 50%, and the commercial building has secured consent forms at about 22%.” The agent added, “Once consent reaches 70%, it can move to a general meeting to form an association and then apply for approval.” The agent said Samsung C&T was believed to be the contractor showing the most interest.
Next door, Gwangjang Apartments is also undergoing redevelopment. From the complex, crossing a single road leads directly to Yeouido Hangang Park, and residents were seen walking dogs nearby.
Gwangjang Apartments is an aging complex, 48 years after completion, located between Yeouido Station and Saetgang. Its combination of access to both the station and the Han River has made it a closely watched redevelopment site.
The project is moving quickly. Seoul city on March 11 approved, with revisions, a decision plan for the redevelopment of Yeouido Gwangjang Apartments 38-1. With that, Gwangjang became the ninth Yeouido redevelopment site to finalize its maintenance plan.
A central element of the plan is an upgrade in zoning. The site will be rezoned from a third-class general residential area to a general commercial area, applying a floor area ratio of 597%. It is slated to be rebuilt into a complex of 414 households, including 154 public housing units, in towers up to 52 stories.
Yeouido’s redevelopment push is spreading beyond individual complexes. Of 15 complexes pursuing reconstruction in Yeouido, nine have passed maintenance plans, putting projects on a firmer track.
Hanyang Apartments and Daegyo Apartments are moving fastest after completing approvals for project implementation. Gongjak Apartments has also stepped up activity after selecting a contractor. Sibom Apartments is pursuing a rebuild of up to 65 stories and is aiming to break ground in 2029.
Contractor selections are expected to continue for some time. Gongjak Apartments selected Daewoo Engineering & Construction in December 2023, and Hyundai Engineering & Construction was finally chosen as Hanyang Apartments’ contractor in March 2024. Once all projects are completed, Yeouido is expected to be reshaped into a high-rise residential area of about 13,000 households.
* This article has been translated by AI.
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