Hyundai Apartments in Daechi-dong, Gangnam-gu, Seoul, is in negotiations with GS Engineering and Construction for remodeling construction. As the first case of vertical expansion remodeling in the Gangnam area, there is high interest in how quickly the project can be carried out.
According to the construction industry on the 8th, the remodeling housing association for Daechi Hyundai Apartments conducted negotiations on the 7th to finalize a pre-contract with GS Engineering and Construction. An association official noted, "We have completed negotiations for the construction contract with GS Engineering and Construction and will finalize the pre-contract through discussions with delegates at the board meeting" and added, "Once local government approvals such as the architectural review are completed, we plan to finalize the main contract." The local government, Gangnam-gu, also applied for an architectural review to the Seoul City Architectural Committee earlier this month. It is expected that the architectural review could be approved as early as this year.
This site, located on a land area of 18,595.4 square meters at 974 Daechi-dong, is promoting a vertical expansion remodeling from 630 to 705 households (75 households for general sale) with 6 basement floors and 27 above-ground floors.
This apartment was built in 1977 as the 'Sinhae Cheong Apartment' (320 households) and was completed in June 1999. The remodeling association was established in April 2021, and GS Engineering and Construction was selected as the construction company in November of the same year. However, in April 2023, a parking garage at an apartment in the Incheon Geomdan New Town, which was managed by a consortium including GS Engineering and Construction, collapsed due to missing rebar and insufficient concrete strength, shaking trust in GS Engineering and Construction, leading to some members suggesting a change in construction companies. After four years of selecting a construction company, a pre-contract was finalized, marking GS Engineering and Construction's first venture into the Daechi-dong area with its J-Brand.
The project is tentatively named Daechi Central Xi, and nearby are apartments from major construction firms such as Daewoo E&C's Daechi Prugio Summit and Hyundai E&C's D-H, Daechi Adele. The surrounding area also features the Daechi-dong academy district. Furthermore, it is within walking distance to Daehyun Elementary School, Dogok Elementary School, Daemyung Middle School, Whimoon High School, and Dandae Satec High School. It is also close to Samsung Station on Subway Line 2 and Daechi Station on Line 3.
Park Hapsu, a visiting professor at Konkuk University's Graduate School of Real Estate, said, "Because the best academy district in the country is concentrated here and the surrounding school district is also good, we expect significant demand for moving in after remodeling."
Meanwhile, cases of vertical expansion remodeling are rare in construction projects. In March, Seongji Apartments in Songpa-dong, Songpa District, were completed after being remodeled through vertical expansion as 'Jamshil The Shop Ruben.' However, there are currently no places remodeled through vertical expansion in the Gangnam district, including Gangnam-gu, Seocho-gu, and Songpa Jamshil-dong.