According to the maintenance industry on the 10th, the redevelopment area of Eunpyeong District, Bukgwang 5 District, received approval for its management and disposal plan from the Eunpyeong District Office on the 28th of last month. Typically, redevelopment projects proceed in the following order: 'Designation of maintenance area → Approval of association establishment → Approval of project implementation plan → Approval of management and disposal plan → Transfer of ownership registration.' The approval of the management and disposal plan is considered the halfway point of the redevelopment project. After this, relocation, demolition, and sales will take place, leading to completion.
According to the announcement, Bukgwang 5 District is set to be redeveloped into a structure with 3 basement levels and 24 above-ground floors, comprising 2,387 units. The total number of units for sale is 2,013, of which 423 units will be available for general sale. A total of 374 rental units are planned. The plan is to complete relocation within the next year, followed by a 7-month demolition period before commencing construction.
Located in the vicinity of Bukgwang 238 in Eunpyeong District, Bukgwang 5 District is conveniently situated near Bukgwang Station on Seoul Subway Lines 3 and 6. In particular, it is just one station away from Yeonsinnae Station, where the GTX train will stop, making it expected to benefit from the train's operation. GS Construction is responsible for the construction of Bukgwang 5 District.
Bukgwang 8 District was also designated as a maintenance area through the Urban Planning Committee of the Seoul City Council in August. Located in the vicinity of Bukgwang-dong 600, Bukgwang 8 District has secured its business viability by upgrading its designation from general residential area (7 floors) to a general residential area of type 2. As a result, it will be transformed into an apartment complex with a maximum of 25 floors and 321 units.
Daejo 1 District, located on the west side of Bukgwang Station, is also considered a major redevelopment project in Eunpyeong District. This project involves redeveloping a 112,000 square meter site in Daejo-dong to build 2,451 units across 28 buildings, with 4 basement levels and 25 above-ground floors. At one point, the project faced a halt in construction for nearly six months due to the suspension of duties of the association president and executives. However, after mediation and discussions with the Eunpyeong District Mayor and the dispatch of a coordinator from the Seoul City Council, construction resumed in June. The goal is to begin sales in the first half of next year.
Along with Bukgwang 5 and Daejo 1 Districts, Galhyeon 1 District, which is referred to as one of the three major complexes in the area, is currently in the final stages of relocation and demolition, aiming to start construction in the second half of next year. Located in the vicinity of Galhyeon-dong 300, Galhyeon 1 District will consist of 4,116 units across 6 basement levels and 22 above-ground floors. The construction will be handled by Lotte Engineering & Construction.
The redevelopment projects in the Eunpyeong area are gaining momentum in line with the opening of the GTX-A Line. The GTX-A Line will begin operations from Paju Unjeong Station to Seoul Station starting on the 28th of this month. There will be a total of five stations: Paju Unjeong Central, Goyang KINTEX, Goyang Daegok, Seoul Yeonsinnae, and Seoul Station.
Currently, it takes about 30 minutes to travel from Yeonsinnae to Seoul Station with one transfer, but with the opening of the GTX train, it will be possible to reach the destination in just one stop. This significantly improves accessibility to the center of Seoul. Furthermore, with the completion of the Samsung Station complex transfer center, the train will extend to Samsung Station by 2028, making travel to Gangnam more convenient.
[Reporter: Kim Yoo-shin]
