Korea Land Trust: "Seongnam-si Accepts Proposal to Designate Bundang Hansol 123 as a Special Maintenance District"

[Financial News] Korea Land Trust said on the 2nd that the Bundang Hansol 123 Reconstruction Project, which has an agreement with the trust, had received a notice of acceptance from Seongnam-si for designation as a special maintenance district. About a month after submitting the final maintenance plan to the city on Sept. 1, the project has cleared a key hurdle in the designation process. 
A notice of acceptance is the stage under the Special Act on the Maintenance and Support of Aging Planned Cities at which the designated authority informs Korea Land Trust, which proposed the special maintenance plan, and the owners of Hansol 123 Complex whether the proposal has been accepted.
Korea Land Trust, together with the Reconstruction Preparatory Committee, submitted a special maintenance plan through a resident-proposal process in July. After undergoing consultations and reviews by the city, the plan was revised accordingly and formally submitted to the city as a final proposal.
Hansol 123 Complex established a full-fledged project framework in June 2024 by signing an agreement with Korea Land Trust. Korea Land Trust and the Reconstruction Preparatory Committee led the entire process, from drawing up the maintenance plan and communicating with residents to consulting with Seongnam-si.
When the maintenance plan was submitted in July, the consent rate among residents, including commercial property owners, stood at 93.1%, far exceeding the 50% required for a resident proposal. The project also recorded a high consent rate of approximately 94% during the first round of the leading-district selection process.
Under the current maintenance plan, 18 apartment buildings of up to 37 stories will be built on an approximately 157,124-square-meter site around Lot 110 in Jeongja-dong, Bundang District. The total number of homes will be 3,447, an increase of 1,575 from the current 1,872.
The plan also calls for a green network that organically connects the complex with surrounding green spaces. It will make Bulgoksan, Tancheon and Bundang Central Park more accessible to residents. Open community facilities will be installed along a pedestrian-only road leading to the complex, creating green spaces that can also be used by local residents.
Meanwhile, Seongnam-si announced on Sept. 29 that, following an evaluation by a selection committee, it had chosen five areas—Imaechon 1, Sibeom Complex 1, Park Town, Pureun Village and Hansol Village 2—with a total of 13,429 homes for designation as part of the second round of special maintenance districts. This is 1,429 more homes than the 12,000 included in this year's planned maintenance volume.
A Korea Land Trust official said, "Thanks to the high level of support from residents and their trust in us, we have taken the first step toward designation as a special maintenance district. Building on the transparency and expertise that are the strengths of trust-based reconstruction, we will move forward smoothly and swiftly not only with district designation but also with the public notice designating the project implementer."
Following the notice of acceptance, Seongnam-si is currently conducting a public inspection and announcement. The city plans to make a final decision on the second special maintenance district designations in December after hearing the city council's opinions.

[email protected] Jeon Min-kyung Reporter