Bukahyeon 3 District, Expanded to 5310 Households... District Office Takes Action for 'Project Speed'

[Financial News] The major redevelopment project 'Bukahyeon 3 District' in Gangbuk is pushing for a maintenance plan change to expand to a maximum of 40 stories and 5310 households. 
Bukahyeon 3 District Housing Redevelopment Maintenance Project Association announced on the 20th that at the temporary general meeting held on the 12th, 1418 out of 1940 total members attended (including written attendance), and 1297 agreed to the 'Reorganization Promotion Plan (Amendment) Consent Resolution', which was approved.
The project involves creating a residential complex on approximately 270,000㎡ of land in Bukahyeon-dong, Seodaemun-gu, Seoul. The original plan was for a 32-story, 4739-household complex, but with the passage of this agenda, the maintenance plan change will increase the total by 559 households (including 24 rental units).
The association explained that the maintenance plan change is being pursued to maximize member benefits as project conditions improve. Specifically, △Agreement on free transfer of public land, increase in maximum floor area ratio by 18% (from 260% or less to 278% or less) △Revision of the incentive operation standards for public facility donation floor area ratio by Seoul City and application of business feasibility adjustment coefficient △Smooth negotiation measures with religious facilities, etc., were achieved.
The association plans to prepare for the reception of maintenance plan changes and design change matters in parallel with the preparation for the management disposition plan approval, and to proceed with all licensing procedures immediately upon approval. They also plan to accelerate through integrated review by Seoul City.
An association official said, "If the project proceeds without a hitch, the management disposition general meeting could be held as early as this year."
Meanwhile, Bukahyeon 3 District has been pursuing the project since the association was established in 2008, but has faced delays due to conflicts with some dissatisfied members and the licensing authority, Seodaemun-gu Office. At the general meeting that day, several agendas were proposed and approved to correct past issues and speed up the project.
First, the 'Resolution on Sanctions Against Project Obstructors' was passed. This was to prevent repeated obstruction by some members who had forged written resolutions by impersonating other members. In the future, the association can impose sanctions on project obstructors such as △restriction on additional relocation cost guarantees and payments △restriction on relocation incentives △exclusion from free options △exclusion of construction cost payment condition benefits.
Also, the agenda for 'Joint Petition and Submission of Petition by Members Against Unfair Administrative Disposition and Project Obstruction by Seodaemun-gu Office' was approved.
Previously, the association won an administrative appeal with Seoul City regarding Seodaemun-gu Office's repeated rejections of permits due to differing interpretations of the project implementation period in the plan. However, as the licensing procedure is still not being executed, a petition signed by 1335 members, including Chairman Kim Heung-yeol, was submitted to Seoul City and the Anti-Corruption and Civil Rights Commission on the 16th.
Chairman Kim Heung-yeol stated in a newsletter, "We will continue to manage legal and administrative responses as well as internal communication and procedures of the association thoroughly to resolve unnecessary conflicts and lay the foundation for the establishment of a full-scale management disposition plan and rapid relocation and demolition."


going@fnnews.com Choi Ga-young Reporter