The iconic Eunma Apartment complex in the affluent Daechi-dong neighborhood of Gangnam-gu, Seoul, is taking significant steps towards its ambitious redevelopment into a towering 49-story residential landmark. Gangnam-gu Office announced today that the revised urban redevelopment plan for the Eunma Apartment area (located at 316 Daechi-dong) will be available for public review starting April 18th.

This announcement follows the submission of the revised redevelopment plan by the Eunma Apartment Reconstruction Project Association to the district office. The proposal outlines the construction of a massive complex featuring 5,962 housing units across multiple buildings reaching up to 49 floors, with four underground levels. Following an integrated review under Seoul’s "Rapid Integrated Planning" initiative, the association aims to secure project implementation approval within this year.

Completed in 1979, the Eunma Apartment complex currently comprises 28 buildings and 4,424 units, making it one of the largest apartment complexes in the area. Discussions regarding its redevelopment have been ongoing since 1996, facing numerous hurdles, notably disagreements with the Seoul Metropolitan Government over the complex's design. Furthermore, the project encountered disputes with the Ministry of Land, Infrastructure and Transport concerning the alignment of the planned GTX-C (Greater Seoul Metropolitan Area Train Express) line, which will pass beneath the site.

The newly finalized revision incorporates incentives for transit-oriented development, allowing for a floor area ratio of 320%, which enables the increased building height. A significant portion of the new development will contribute to public housing, with 891 units designated for public rental and an additional 122 units for public sale. This inclusion aligns with Seoul’s policy to increase affordable housing options within the city.

A key addition to the revised plan is the incorporation of a rainwater storage facility within the complex. This inclusion addresses a requirement from the Seoul Metropolitan Government as a public contribution, which the residents' association has now accepted. Consequently, the underground levels will house both the water storage facility and parking spaces, while the ground level will feature a small park and a cultural park, enhancing the green spaces and amenities for residents and the wider community.

Gangnam-gu Office elaborated on these public benefits, stating, "The underground space of the cultural park will include flood prevention storage facilities, and a public parking lot will be constructed beneath the small park to alleviate the traffic congestion often experienced in the Daechi-dong academy district." Daechi-dong is renowned for its high concentration of private educational institutions, leading to significant traffic during peak hours.

Furthermore, the revised plan strategically positions a park above the section where the GTX-C line will pass, ensuring the safety and amenity of future residents. The plan also includes adjustments to the location of the Eunma Shopping Center, which is currently situated at the front of the complex. The residents' association is optimistic that, based on this revised plan, they can obtain project implementation approval within the current year. Following this crucial step, the subsequent stages will involve selecting a construction company and securing management and disposal authorization.

To ensure that residents are well-informed about the details of the revised plan, Gangnam-gu will host a public briefing session on April 30th at 3:00 PM at the Grand Hill Convention Center, 3rd floor. The session will provide a comprehensive overview of the key changes in the redevelopment plan, followed by a question-and-answer session to address residents' concerns and queries.

Cho Seong-myeong, the Mayor of Gangnam-gu, emphasized the significance of the project, stating, "The redevelopment of Eunma Apartment is a major urban renewal project representing Gangnam and marks a crucial turning point for improving urban functions and enhancing the quality of life for residents. We will actively listen to residents' opinions through the public review and briefing session and continue to provide administrative support to ensure the realization of a future-oriented urban plan."

The redevelopment of Eunma Apartment is expected to have a significant impact on the real estate market in Gangnam and the broader Seoul area. The transformation of this large, centrally located complex into a modern, high-rise development with enhanced amenities and public contributions is highly anticipated. The project's progress will be closely watched by residents, investors, and urban planners alike as it navigates the remaining regulatory hurdles and moves towards construction.

This ambitious undertaking signifies a new chapter for the Eunma Apartment site, promising to modernize the area and provide a substantial increase in housing supply in one of Seoul's most sought-after districts. The integration of public amenities like parks, parking, and flood control measures also highlights a commitment to creating a more sustainable and livable urban environment.

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