Bundang Mujigae Village Complex 10 and S8 Zone Accelerate Reconstruction with Majority Consent for District Designation

Combined Reconstruction Project Moves Forward
Majority Consent Secured Within One Week of Collecting Forms

The Preparation Committee for the Combined Reconstruction of Bundang Mujigae Village Complex 10 and the S8 Zone (Geukdong Villa, Daewoo Villa, Dongbu Sun Villa) has accelerated the reconstruction project by securing majority consent for the special maintenance district designation within just one week of collecting consent forms.

According to Korea Land Trust on May 9, the committee began collecting consent forms for the special maintenance district designation on April 25 and secured over 50% resident consent as of May 1, just one week later. A special maintenance district can be proposed when more than half of the landowners in the area give their consent.

A banner celebrating the achievement of 50% consent rate for the designation of a special maintenance zone in Bundang Mujigaemaeul 10 Complex S8 District is displayed. Provided by Korea Land Trust.

This project involves redeveloping a 52,691.5-square-meter site encompassing Mujigae Village Complex 10 and the S8 Zone using a combined reconstruction approach. The floor area ratios for Mujigae Village Complex 10 and the S8 Zone are approximately 152% and 92%, respectively, making these plots highly attractive in terms of business potential within Bundang.

The committee decided to carry out the project using the "combined reconstruction" method, which merges non-adjacent zones into a single project. Combined reconstruction is advantageous because it is based on an independent settlement structure that separates income and expenses for each zone, thereby minimizing potential conflicts.

The committee further explained that adopting an independent settlement system, which distinguishes asset values for each complex through prior agreement, has enhanced the project's stability.

The committee stated, "We are moving forward by combining residents' trust with the expertise of the trust company," adding, "We aim to quickly complete the consent collection process and make this a successful example of reconstruction in Bundang." The committee also said, "With the achievement of this consent rate as a starting point, we will continue to communicate with both Korea Land Trust and the residents," and added, "We plan to officially begin the procedures for designating the special maintenance district."

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