Remodeling Boom Anticipated... HDC Hyundai Development Establishes Dedicated Team Amid Busy Activity

Safety Review in Progress for Daechi 1st Hyundai Apartment Phase 2

Apartment complexes in downtown Seoul as seen from 63 Square, Yeongdeungpo-gu, Seoul

In Bundang, Seongnam, the first remodeling project plan approval among the first-generation new town apartments in the metropolitan area has been issued, raising expectations for a remodeling boom. HDC Hyundai Development Company is actively engaging in remodeling projects, drawing attention.

Following an organizational restructuring last December, HDC Hyundai Development established a dedicated remodeling team within the Urban Maintenance Business Office and is currently conducting a second safety review of Daechi 1st Hyundai Apartment, a complex in the Gangnam area.

After securing the 229-unit Sangnok Tower Apartment in Gwangjang-dong last November, HDC Hyundai Development was also selected as the preferred negotiation partner for Sindorim Woosung 3rd in the same month and is preparing for contractor selection in May. In February, Suji Seongbok Station River Park was chosen as the preferred negotiation partner, highlighting the company's prominence in the remodeling market.

HDC Hyundai Development also has remodeling completion achievements such as Cheongdam I-Park. While remodeling Cheongdam Cheonggu Apartment, they expanded the existing two basement floors of parking to three floors through an unprecedented vertical extension of the basement. Cheongdam I-Park remains the only remodeling complex completed with vertical extension of basement floors.

HDC Hyundai Development developed new technology enabling vertical extension on pile foundations and is currently conducting the second safety review for Daechi 1st Hyundai Apartment. It is expected to pass as early as April. Daechi 1st Hyundai Apartment, located in Daechi-dong, Gangnam-gu, Seoul, was completed in 1990 with 15 floors above ground, one building, 120 units of 84㎡ exclusive area. The remodeling plan aims to vertically extend both above and below ground to increase the scale to 3 basement floors to 18 floors, 25,907.28㎡, and 138 units.

Among remodeling projects underway, Seongji Apartment in Songpa-gu passed the second safety review in 2019. However, this was a special case reflecting that its foundation was directly supported by bedrock, unlike other apartments. Since then, no other complexes have passed additional reviews while pursuing vertical extensions.

On the other hand, Daechi 1st Hyundai Apartment, like most apartments in Seoul, is built on pile foundations, attracting significant attention from other remodeling complexes for this second safety review. If passed, applying this new technology to remodeling projects in Seoul and the metropolitan area is expected to dramatically accelerate project progress.

Additionally, HDC Hyundai Development is currently remodeling four sites: Jamwon Hanshin Royal, Daechi 1st Hyundai, Daechi 2nd Complex, and Gwangjang Sangnok Tower.

An HDC Hyundai Development official stated, "We expect the second safety review of Daechi 1st Hyundai Apartment to pass smoothly," adding, "Based on differentiated technologies such as underground parking expansion, we plan to actively expand our presence in the remodeling market this year."

Meanwhile, Hansol Village Jugong 5 Complex in Bundang, which marks its 30th year since completion this year, received remodeling project plan approval on the 24th, becoming the first among the first-generation new town apartments in the metropolitan area to do so. This is the first case of a large-scale remodeling involving more than a thousand units. As the remodeling project of Hansol Village 5 Complex gets on track, attention is focused on whether it will influence other first-generation new town apartments currently stalled.

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