Expo Apartments, the first to push a large-scale redevelopment project in Yuseong District, Daejeon, is accelerating its reconstruction.
According to the redevelopment industry on the 9th, the reconstruction promotion preparation committee for Expo Apartments held a town hall-style meeting on the 7th to communicate directly with residents. At the meeting, residents asked about the need to share the overall timeline, the method for assigning buildings and unit numbers, the appraisal method and whether to reflect existing interior expense costs. They also asked questions about concerns over potential increases in individual contributions, response plans in case of unsold units, and the preparation committee's position on concerns over high presale prices.
The preparation committee said that about 80 residents who attended the meeting reacted positively, noting, "Today's explanation helped organize the overall flow," and "We will share today's details with neighboring households that did not agree." The committee will produce flyers summarizing the full project schedule for all residents and deliver them to each household in person, and reflect the questions raised that day in notices and explanatory materials. The second town hall will be held on the 21st.
The Expo Apartments reconstruction project is drawing attention as Daejeon's largest single complex. Completed in 1994, the complex has one basement level to 17 stories above ground, with 3,958 households. If the project is successfully completed, it will become a complex with three basement levels to 45 stories above ground and 6,004 households. The number of households alone will increase by 2,046, or about 52%.
Typically, apartment complexes that increase the number of households by more than 50% through reconstruction have been mostly low-rise complexes of five stories or less. Helio City (formerly Garak Siyoung), where the number of households rose by about 44%, and Olympic Park Foreon (formerly Dunchon Jugong), which currently has the most households as a single complex, were both five stories or less. By contrast, Expo Apartments is already a mid- to high-rise complex with a maximum of 17 stories, and its existing floor area ratio is not low at around 196%.
Because of this, Expo Apartments initially planned remodeling in 2022. However, with deregulation such as the government's reconstruction fast-track and a change in the major hurdle—structural frame ratio—shifting from a safety inspection to a reconstruction assessment that prioritizes residential convenience, the situation changed. The preparation committee began collecting resident consent forms in June last year, achieved a 60% consent rate, and last month submitted a "proposal for initiating designation of the Expo Apartments reconstruction maintenance zone" to Yuseong District.
Using this proposal submission as a starting point, the preparation committee plans to obtain approval for the reconstruction promotion committee within the year and then establish a cooperative association. Once the association is established, it will begin the process of selecting a builder. It is already known that construction companies such as HDC Hyundai Development Company and Hyundai Engineering & Construction have put up banners at the complex.
Some, however, have raised concerns that the number of households is excessively high. This is because it would be the first large-scale reconstruction in Yuseong District. In response, the preparation committee emphasized, "Because it is a large complex, we are approaching it more cautiously."
Lee Young-a, secretary general of the preparation committee, said, "We have surpassed a 64% consent rate for reconstruction and are preparing with a target of 70% for establishing the association," adding, "Because it is a large complex, we are managing it through a system rather than individually, and we are proceeding with procedures together with a professional project management (PM) firm."