The Eunma Apartment in Daechi-dong, a symbol of reconstruction in Seoul's Gangnam district, has completed its application for project approval and is accelerating plans for relocation next year. The association is considering starting the relocation as early as next summer break, following the approval of the project implementation.
According to the construction industry on June 9, the Eunma Apartment reconstruction association recently submitted its project implementation application to the Gangnam District Office.
Having passed the integrated review by the Seoul city government in February, the project has now entered the implementation phase, marking a significant step forward. The complex, located in the 316 area of Daechi-dong, consists of 4,424 units and is set to transform into a large-scale development of up to 5,893 units with heights reaching 49 stories.
In a phone interview, a representative from the Eunma Apartment association stated, "We have submitted the project implementation application and are currently awaiting approval from the Gangnam District Office." The representative added, "Once we receive the approval, our goal is to obtain the management disposal approval as quickly as possible," noting that delays often occur during this phase of the project. The association aims to facilitate relocation by next year.
The association is particularly considering the academic calendar in its relocation plans. The representative explained, "Our tentative goal is to start relocation during the summer break and complete it by the winter break," emphasizing the need to minimize the impact on education in the student-populated Daechi-dong area.
The scale of the project is also expected to exceed initial estimates. The association anticipates that the total project cost will surpass the previously discussed range of 4 trillion to 5 trillion won, likely exceeding 5 trillion won.
Currently, the possibility of changing the construction company appears low. The representative mentioned, "While there have been discussions about changing the construction company, many association members believe it is better to maintain the existing system to expedite the project." Concerns about potential delays due to additional procedures and lawsuits if a new contractor is selected have been raised.
He added, "Given that discussions about reconstruction have been ongoing for nearly 30 years, association members are now more focused on advancing the project quickly rather than creating unnecessary conflicts," noting that members are actively participating in the process, strengthening internal cohesion.
The Eunma Apartment, completed in 1979, is a representative aging apartment complex in the Gangnam area. Discussions about its reconstruction began in the late 1990s but have faced delays due to various regulations and changes in project methods. Previously, in 2002, a consortium of Samsung C&T and GS Engineering & Construction was selected as the construction company.
Go Jun-seok, a professor at Yonsei University's Sangnam Institute of Management, stated, "Daechi-dong has a high demand for housing and is the most preferred area for educational districts in Gangnam. The Eunma Apartment is considered a key site for reconstruction in Daechi-dong, and its large size and high proportion of medium to large units enhance its project viability."
* This article has been translated by AI.
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