Bukgajwa District 6 reconstruction wins implementation approval for 1,953-unit Acro complex

The Bukgajwa District 6 reconstruction project in Seodaemun-gu, Seoul, has received implementation plan approval from the district office.

Korea Real Estate Investment & Trust announced Friday that the Bukgajwa District 6 housing reconstruction project, for which it serves as project manager, had obtained implementation plan approval from the Seodaemun-gu district office.

The project association voted to approve the implementation plan in April with a 98 percent approval rate at its regular general meeting, then submitted the application for approval in May. The approval process was completed swiftly following consultations among the trust company, the association and local authorities.

With the approval secured, the Bukgajwa District 6 site will be transformed into a large-scale apartment complex comprising 16 buildings with six below-ground floors and up to 34 above-ground floors, totaling 1,953 units. DL E&C will handle construction, and the development will carry the builder's high-end brand, Acro.

The complex earned both a special architecture zone designation and an outstanding design selection simultaneously through the Seoul Metropolitan Government's integrated review process, securing aesthetic and practical advantages at once. The project will feature a three-dimensional complex design that harmonizes with the Bulgwangcheon riverside landscape, while the outstanding design incentive allows for 100 percent balcony expansion, expected to increase usable living space for association members.

Plans also call for a cultural park and a public parking lot between the complex and Bulgwangcheon, along with a public pedestrian pathway toward Bukgajwa Elementary School, providing residential, transportation and education infrastructure.

"We have achieved results quickly, thanks to the support of association members and the trust built between the trust company and the association," a Korea Real Estate Investment & Trust official said. "We will push forward with follow-up procedures — including property valuation and the establishment of a management and disposal plan — at pace, with the goal of creating a landmark in northwestern Seoul."

Founded in 1996, Korea Real Estate Investment & Trust operates across four business lines: land trust with borrowing, urban renewal projects through trust-based redevelopment and reconstruction, real estate investment trusts and investment projects. The company has supplied approximately 30,000 housing units — including apartments and officetels — across major regions nationwide, and is currently advancing trust-based urban renewal projects as project operator and manager at 30 sites in the greater Seoul area, including Yeouido, Gangbyeon and Heukseok, and 38 sites nationwide.