A reconstruction model for the deteriorated high rise apartment is presented on the basis of the comprehensive feasibility study on the reconstruction project in Seoul. The first approach was to analyze the variation in floor area ratio of the high-r...
A reconstruction model for the deteriorated high rise apartment is presented on the basis of the comprehensive feasibility study on the reconstruction project in Seoul. The first approach was to analyze the variation in floor area ratio of the high-rise apartments built in between year 1974 and 1992. The ratio fluctuation was observed during the period and ended up with 250% in the late 1980s. The second analysis for the reconstruction was made through the feasibility study with respect to the economic aspect for the selected apartments constructed in the early 1980s in the area of Kangnam. The key parameters in the feasibility study includes reconstruction expenses, net apartment price and other expenses associated with the renewal and all the parameters in year 2000 were used as the references for the analysis. The materials provided by the construction companies were investigated to generate reconstruction model. In the analysis, two different floor area ratios of 250% and 300% were applied depending on the renewal plan of the apartment complex.
The analysis results indicated that the owners in K-apartment of 102㎡ would have approximately 30% profits through the reconstruction to the new apartment of 139㎡. Similarly, it proved that the reconstruction would result in 32% and 45% profits to the apartment owners in C and J-apartment complex, respectively. Primarily, the major reason for such high profits associated with reconstruction is related to the floor area ratio of 180% for those apartments built in 1980s. Another reason can be attributed to the high value of the apartment estimated in the market. In fact, most of the apartment complex including residential areas in Kangnam is preferred mainly due to the environmental reasons such as traffic, education and contemporary cultures available, in particular.
In summary, from the economic aspect, the first consideration for the renewal of the high rise apartment should be made with regard to the floor area ratio lower than 180%. Secondly, the reconstruction of the apartment in the area with better environment is recommended. Finally, equal number of households before and after the reconstruction is suggested for more comfortable urban life.