Remodeling to Reconstruction U-turn: 'Eungbong Daerim 1st' Challenges Detailed Safety Inspection

The Eungbong Daerim 1st Apartment in Seongdong-gu, Seoul, which shifted from remodeling to reconstruction, has begun the detailed safety inspection process.

According to the maintenance industry on the 1st, Seongdong-gu Office announced a bid on the 28th of last month for the detailed safety inspection service for the reconstruction of Eungbong Daerim 1st Apartment. The detailed safety inspection is a procedure that comprehensively evaluates structural safety, including structural and functional defects, as well as residential convenience and comfort, to determine whether reconstruction is necessary.

This apartment complex, built in 1986, is an aging complex that formed a union in 2006 and had been pursuing remodeling. However, with the current government easing many related regulations, the direction shifted to reconstruction. It is reported that the residents' enthusiasm for the project is high enough to raise the detailed safety inspection costs within about four weeks. Previously, the government lowered the weight of the structural stability score, which was considered a hurdle in safety inspections, and also eliminated the obligation for public institutions to review appropriateness.

The preliminary safety inspection was passed in March 2018. Currently, the complex consists of 10 apartment buildings with a maximum height of 15 floors and 855 households, and it is expected to be transformed into a newly built apartment complex with more than 1,000 households through reconstruction.

The excellent location is an advantage. Eungbong-dong is located at the confluence of the Jungnangcheon Stream and the Han River, close to Eungbong Mountain and Seoul Forest in Seongsu-dong, offering an excellent green environment. Eungbong Elementary School and Gwanghee Middle School are located right next to the complex. It is also considered a positive factor that Seoul City announced plans to build the 'Global Future Complex (GFC),' a cluster of companies investing in advanced industries, on the Sampyo Remicon site in Seongsu-dong.

However, there are concerns about low profitability due to a high floor area ratio of 208%, but the union explains that since 780 out of 855 households are large units of 31 pyeong (103㎡) or more, there is no difficulty in pursuing reconstruction.

The actual transaction price of this apartment was 1.74 billion KRW for a 113㎡ unit in April 2022, but it fell to 1.3 billion KRW in March due to the real estate market downturn.

A union official said, "The residents' willingness for reconstruction is high enough to raise the detailed safety inspection costs in a short time," adding, "We plan to complete the procedures in the second half of the year."

This content was produced with the assistance of AI translation services.