A project to bundle an aging villa neighborhood and 11 small apartment buildings in Mok-dong, Yangcheon District, Seoul, into an apartment complex with 4,209 dwellings has gotten on track. As an urban public housing complex project implemented by Korea Land & Housing Corporation (LH), a private contractor in charge of design and construction will be selected within the year.
Because it is close to Mok-dong New Town and is a large-scale project with more than 4,000 dwellings, major builders such as Samsung C&T and Hyundai Engineering & Construction are said to be considering participation. The high-end brands "HAUTERRE" by POSCO E&C and "Summit" by Daewoo Engineering & Construction are also being mentioned as candidates for application.
According to the Ministry of Land, Infrastructure and Transport on the 8th, on the 4th the area around 772-1 Mok-dong, Yangcheon District, Seoul, was designated and announced as the "Mok 4-dong near Gangseo High School urban public housing complex district." It comes about 3 years and 9 months after it was selected as a candidate site in Dec. 2022.
The urban complex project grants benefits such as easing floor area ratio limits in station areas, quasi-industrial zones, and old low-rise residential areas where private redevelopment is difficult, with public institutions leading the development. By omitting some procedures such as forming an association and the management and disposal plan, the project period can be shortened.
The target site measures 190,317.7 square meters, about the size of 27 soccer fields combined. The plan bundles old villas and single-family houses as well as 11 small apartment buildings into a single project zone for development. Part of the site was selected as a Moa Town initiative candidate in 2021, but as residents requested developing a larger area together, the direction shifted to an urban complex project in 2022.
A total of 4,209 dwellings are planned. By exclusive area: ▲ 46 square meters, 575 dwellings ▲ 59 square meters, 1,849 dwellings ▲ 84 square meters, 1,505 dwellings ▲ 105 square meters, 280 dwellings. The 59- and 84-square-meter types account for about 80% of the total. The supply scale and unit types may change during the complex project plan approval process.
The project site is close to Mok-dong New Town complexes 1–4, Gangseo High School, Yeongdo Middle School, Paris Park, and the Mok-dong cram school district. It is about 1.2 kilometers from Mok-dong Station on Seoul Subway Line 5. Once development is complete, a large residential area connected to Mok-dong New Town is expected to form.
LH plans to conduct an integrated design-and-construction tender within the year. Hwang Jae-seong, head of the Mok 4-dong urban complex project promotion committee, said, "We will communicate sufficiently with LH so residents' opinions can be reflected in the design and construction."
Large builders are also reviewing the project's feasibility. In the redevelopment industry, Samsung C&T, Hyundai Engineering & Construction, GS Engineering & Construction, Daewoo Engineering & Construction, and POSCO E&C are said to be showing interest.
A redevelopment industry official said, "Because it is a rare development project of around 4,000 dwellings in Mok-dong and is close to Mok-dong New Town and education facilities, large builders are highly interested," adding, "Some builders have also informed the residents of the possibility of applying high-end brands."
Nam Hyuk-woo of Woori Bank Real Estate Research Institute said, "It is a location that can form a residential area connected to Mok-dong New Town complexes 1–4," adding, "If roads and infrastructure are improved during the project, it can establish itself as a residential area that shares Mok-dong's education and living infrastructure."