Gaepo Woosung Signals Rebuilding Launch Along Yangjaecheon Stream

Transformed into a large complex with up to 35 floors and 1,080 households
First redevelopment zone designated among aging mid-rise apartments adjacent to Yangjaecheon Stream
Expectations rise for revitalizing reconstruction in the area

[Asia Economy Reporter Kim Hyemin] The reconstruction of Yangjaecheon Stream, a representative ecological stream in the Gangnam area of Seoul, has officially begun. Gaepo Woosung 4th Apartment in Dogok-dong, Gangnam-gu, has been designated as a maintenance zone for the first time among the aging mid-rise apartments along Yangjaecheon Stream, spreading anticipation for reconstruction in the area. Although Yangjaecheon, a tributary, is smaller in scale compared to the Han River, it is a representative eco-friendly stream in Gangnam, raising the possibility of transforming into a new affluent residential area if the project succeeds.

According to Seoul City on the 23rd, Gaepo Woosung 4th in Dogok-dong, Gangnam-gu, was designated as a reconstruction maintenance zone following a review by the Urban Planning Committee held the previous day. The designation of the maintenance zone and approval of the maintenance plan are the first steps toward reconstruction, allowing subsequent procedures such as forming a reconstruction promotion committee, establishing an association, and obtaining project implementation approval.

Completed in 1985, Gaepo Woosung 4th consists of a total of 459 households. Although the complex is not large, it has been considered the most valuable apartment in Dogok-dong due to its proximity to Maebong Station on Subway Line 3 and its adjacency to Yangjaecheon. After passing the safety inspection, reconstruction was actively pursued in 2017, but the designation of the maintenance zone and approval of the maintenance plan were deferred by the Seoul City Urban Planning Committee, slowing progress.

However, with the approval of the maintenance plan after four years, the reconstruction project can now proceed in earnest. With this decision, Gaepo Woosung 4th is expected to be transformed into a large complex with up to 35 floors and a total of 1,080 households. Buildings facing Yangjaecheon will be 25 stories high, and apartments next to Daechi Middle School nearby will be 15 stories. Gaepo Woosung 4th is the first among the aging apartments adjacent to Yangjaecheon to have its maintenance plan approved.

As Gaepo Woosung 4th accelerates its reconstruction, expectations for reconstruction along the Yangjaecheon Stream area are also spreading. This is because mid-rise apartments built around the same time are densely clustered along the stream. Although not directly adjacent to Yangjaecheon, Gaepo Hanshin, located north of Gaepo Woosung 4th, passed building review in June last year and completed an environmental impact assessment last month, awaiting project implementation approval. Gaepo Lucky and Gaepo Woosung 5th are pursuing small-scale reconstruction.

Hyundai 2nd in Gaepo-dong, facing Gaepo Woosung 4th across Yangjaecheon, is preparing for reconstruction by collecting resident consent forms for designation as a maintenance zone since June this year after passing the safety inspection. Gaepo Kyungnam is pursuing integrated reconstruction with nearby Woosung 3rd and Hyundai 1st. Since August, resident consent forms have been collected, and all three complexes have exceeded a 70% resident consent rate.

On the north side of Yangjaecheon, the so-called ‘Woo-Seon-Mi (Gaepo Woosung, Daechi Seonkyung, Daechi Mido)’, known as the flagship apartments of Daechi-dong, are pushing forward with reconstruction after passing safety inspections. Among them, Daechi Mido recently joined Seoul City's rapid integrated planning, a reconstruction support method, raising expectations for accelerated progress. An industry insider said, "Even the apartments in Gaepo-dong on the south side, which are separated from Yangjaecheon, have been reborn as emerging residential complexes through reconstruction," adding, "If these complexes with river views are reconstructed as planned, the value of this area will increase further."

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