The integrated reconstruction residents' delegation for Yangji Maeul (Kumho, Cheonggu, and Hanyang apartments, and the shopping district union) in Sunae-dong, Bundang, Seongnam, Gyeonggi Province, said on July 1 that it visited Seongnam City Hall on June 30 to submit an application for designation of a project operator.
Yangji Maeul terminated its business agreement in April with the existing trustee, which violated the duty of good faith, and in May selected Daishin Asset Trust as the preliminary project operator through an open competitive bidding process. Yangji Maeul owners began collecting consent forms for the designation of a project operator and surpassed a 60% consent rate in 10 days.
Yangji Maeul will form a maintenance project committee once the public notice of the project operator designation is completed and will select a Sigongsa in the first half of next year. Currently at 4,392 households, Yangji Maeul will be developed into a large complex of up to 37 stories and 6,839 households, the largest in Bundang.
The Yangji Maeul project site, a leading district for the first-phase new town reconstruction by the Ministry of Land, Infrastructure and Transport, is located at 24 Sunae-dong, Bundang-gu, Seongnam, Gyeonggi Province, and the project area is 291,584.3 square meters.
Kim Young-jin, head of the integrated reconstruction residents' delegation for Yangji Maeul, said, "Yangji Maeul will move forward toward the reconstruction project in the most correct and swift manner, unwaveringly adhering to the four principles of maximizing owner interests, institutionalizing the reflection of residents' opinions, verified performance and experience, and fair selection."