Hannam Heights Reconstruction Accelerates... Management Disposition General Meeting Planned for Early Next Year

[Asia Economy Reporter Yuri Kim] Hannam Heights, located along the Han River in the Oksu-dong area of Seongdong-gu, Seoul, is accelerating its reconstruction project. This complex has attracted investors' attention from the early stages of the project due to its Han River views and its location directly across the river from Apgujeong-dong in Gangnam-gu.

According to the maintenance industry on the 12th, the Hannam Heights Apartment Reconstruction Association signed an agreement with the construction company GS Engineering & Construction earlier this month. Previously, the association had selected GS Engineering & Construction as the joint project implementation construction company at the beginning of the year. Park Ho-sung, the association chairman, said, "We signed the agreement after clarifying parts related to smooth relocation, such as relocation cost credit guarantees," adding, "We plan to hold the management disposition general meeting early next year." The association explained that if the schedule proceeds smoothly, relocation will take place between July and October next year.

Hannam Heights, which received project implementation plan approval from Seongdong-gu Office last month, passed the safety inspection for reconstruction in May 2010, then established a maintenance plan and was designated as a reconstruction maintenance district in February 2017. The complex, currently consisting of 8 buildings with a maximum of 14 floors and a total of 535 households, will be transformed through reconstruction into 10 buildings ranging from 6 basement floors to 20 above-ground floors, with 790 households.

According to GS Engineering & Construction's design plan, Hannam Heights will be reborn as "Hannam Ja-i The River," emphasizing terraces. Taking advantage of its Han River location, the number of units with river views will increase to 305, and 347 units will include terrace types. The top floor will feature a "rooftop terrace," the first floor will have terraces with front yards, and the middle floors will include "pocket terraces" and open balconies. Community facilities will include a fitness center, swimming pool, sauna, sky lounge, pet caf?, audio room, and guest house.

The complex is situated on a hillside overlooking the Han River, offering excellent views. It also boasts excellent access to Gangnam, and nearby is Hannam The Hill, known as one of the most expensive apartment complexes.

Meanwhile, the association plans to proceed with a lawsuit regarding approximately 400㎡ (120 pyeong) of land within the complex. The association claims that Jungang Industrial, the construction company at the time of the complex's construction in 1982, still owns land that should have been distributed to residents during the original sale. The lawsuit is expected to involve around 5 billion KRW.

This content was produced with the assistance of AI translation services.