The area of Jamwon-dong, Seocho-gu, Seoul, where the 19th Sinbanpo, which received public reconstruction consulting, is located is an active place for reconstruction. Some have completed reconstruction and have been transformed into high-end apartments with market prices approaching 100 million won per 3.3m2. The photo shows Acro River View Sinbanpo, which was reconstructed from Sinbanpo 5th near Sinbanpo 19th.
– “I am more concerned about the decline in the image of the apartment than the good one, reducing the share of 100 million to 200 billion won.”
[안장원의 부동산노트]
Public Reconstruction Consulting Gangnam Sinbanpo 19th, Yongsan Riverside·Gangseo
Interview with President Sungjin Kim and Youngjun Park
– This is the statement of the 19th cooperative president Kim Seong-jin, Sinbanpo, Jamwon-dong, Seocho-gu, the only public reconstruction consulting service in Gangnam, Seoul. He said, “I applied for consulting with the intention of receiving it, but it is unlikely that residents would prefer public reconstruction.”
On the 15th, the Integrated Support Center for Public Maintenance Projects released pre-consulting data for public reconstruction of 7 complexes and gave a briefing session for each complex. It is expected that the number of houses will increase by 19% and member contributions will decrease by 37% compared to the existing method. Public reconstruction has the effect of’one stone two-jo’, which lowers the burden of project costs and increases housing supply. The materials presented by the Integrated Support Center were expressed as’the charm of public reconstruction’.
I asked the cooperative president Kim Seong-jin and the head of the Ichon-dong Gangbyeon and Gangseo Park Young-jin, who received consulting with Yongsan Esi, how attractive they were.
First of all, the 19th Shinbanpo is 242 households that were completed in 1982. In 2015, the Reconstruction Promotion Committee was formed, and in 2016, the association was established.
- Currently, the possible reconstruction floor area ratio (the ratio of the total ground area to the project site) is 300%. How much can it be raised by public reconstruction?
– “Currently, if you change the use area from a third-class residential area to a quasi-residential area, the floor area ratio can be increased to 500%, but the content of the consulting is that it is possible to 405%.”
- Isn’t it different from the government announcement that it would allow up to 500%?
– “I heard that it is the floor area ratio that can be built the most by applying building regulations such as the maximum number of floors and the distance between buildings according to the city plan of Seoul.”
- In order to increase the floor area ratio, the building regulations must be lifted.
– “With current regulations such as the number of floors, there is a limit to increasing the floor area ratio and increasing the number of houses. Only when the number of floors is lifted, the complex can be decorated comfortably by using a lot of green space. The view and the view just get better. Residents prefer to reduce the number of floors over the floor area ratio.”
- The share would be reduced due to public reconstruction.
– “It is expected to decrease by about 100~200 billion won per union member. However, residents want to build’luxury and luxury’ apartments rather than reducing their contributions. The skyscraper is one of the necessary conditions for such an apartment. Not all residents benefit from a reduction in their contributions. Due to the reconstruction excess profit return system, about half of the increase in sales income must be paid as a reconstruction charge. There aren’t a lot of real-world profits.”
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Sinbanpo 19th
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- What is the reaction to rental housing?
– “If it is reconstructed in the conventional way, there are 33 rental housing units, but 23 more units are increased due to public reconstruction. The greater the number of rental housing, the greater the potential for conflict between rental and sale housing residents. Residents are more concerned about the decline in their image. I want to increase the value of assets by building a wonderful house through reconstruction, but I wonder if the public reconstruction is cheap and will give the image of a’common people apartment’ with many rental houses. No matter how good the business is, if the image just declines, it is a loss as a result.”
- The public should not redeem the development profits resulting from the increased floor area ratio.
– “I have to increase public donations, but the method is the problem. Isn’t the key to public reconstruction to increase housing supply? Houses donated by the public can be sold for public sale rather than rental housing. The proceeds from the public sale are used to secure other rental housing.”
- Is there great distrust of public reconstruction?
– “The government policy on reconstruction has lost its trust. This is because there is no policy continuity. Policies change according to the regime and market conditions. Public reconstruction, which included a significant increase in the floor area ratio, was also released because it is urgent to expand the supply of housing. Even this, I don’t know what to do. As a result, residents also have a strong sentiment to watch over the government’s policies rather than paying attention.”
(Shinbanpo 19th is reviewing integrated reconstruction with nearby Sinbanpo 25th as an alternative to public reconstruction.)
Yongsan Riverside and Gangseo without business
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The circumstances of the Yongsan Riverside and Gangseo were different. Gangbyeon-Gangseo President Park Young-joon said, “I applied because I wanted to find a breakthrough because reconstruction was virtually impossible with the current method.”
This complex (184 households) was built in 1971, 50 years ago. Although the association was established in April 1992, the business has not progressed for 30 years.
This is because there is no room to build or increase the house with the existing reconstruction. Currently, the floor area ratio is 296%. The floor area ratio limit that can be built using the existing reconstruction method is 300%. Gangbyeon and Gangseo are not the only complexes in Yongsan with a floor area ratio of around 300%. This is the reason why the Yongsan apartments were built older than Gangnam, but reconstruction was not active.
An official at Yongsan-gu Office said, “There is no real benefit because the entire project cost must be rebuilt at your own expense without increasing the number of households or area.”
President Park said, “I was interested because public reconstruction could raise the floor area ratio.” As a result of consulting, it was found that the floor area ratio can be increased to 500%. The construction size will increase by 67%, and 85 units will be built, which is about half of the existing building. Even if you donate about half to the public through rental, you can reduce the burden of project expenses with the income from selling about 40 households.
President Park said, “It is difficult to conclude whether to do public reconstruction right away, and we have to look at this major reconstruction plan (district unit plan) being established in Seoul.” Reporter Ahn Jang-won [email protected]
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