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Homeowners are currently selecting a bank to provide the loans and other financial solutions to finance the homeowners who will have to relocate during the construction process. Not a big story and a normal step of the process, but that was a good opportunity to update the thread.

Construction is still on track to begin in H2 2020 (which means that demolition will probably begin in late H1).

Project area is 6106 sqm, 39 floors, floor-area ratio is 891.04% and total floor area 37.35%.
110 regular housing units will be provided, and 77 officetels. The construction costs will be slightly over USD 100 million.

http://www.areyou.co.kr/news/articleView.html?idxno=48198
 

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The Management Disposal Approval (관리처분) request will be submitted by the homeowners to Yongsan District and is expected to be granted by the district by the end of the year.

This is the last major step in redevelopment, which then allows for the compensation and demolition process to start.

Actual construction will start in October 2020, so the demolition will start at least a few months earlier.

https://www.mk.co.kr/news/realestate/view/2019/11/962202/
 
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