Gangdong-gu Myeongil 1-dong Community Center Reborn as 13-Story Building... Expansion of Youth Rental Housing and Convenience Facilities

SH Corporation Signs Business Agreement with Gangdong-gu

[Asia Economy Reporter Kim Yuri] Seoul Housing and Communities Corporation (SH Corporation) and Gangdong-gu announced on the 27th that they have signed a business agreement to jointly develop the site of Myeongil 1-dong Community Center and Gangdong Youth Center in Gangdong-gu.

According to this business agreement, a complex building with 4 basement floors and 13 above-ground floors will be constructed on the existing old and narrow 1,772㎡ site of Myeongil 1-dong Community Center, with a target completion date of 2023. The complex building will expand the existing community center, exercise facilities, and resident convenience facilities, and will provide youth rental housing leased to young people.

This complex project is a regionally customized urban regeneration project that expands public facilities such as living SOC, resident convenience facilities, community centers, and daycare centers, which are in high demand by residents on public land in Seoul, and simultaneously constructs Happy Housing to stabilize housing for young people. Among the complex building, public facilities will be owned and managed by Gangdong-gu, and Happy Housing will be owned and managed by SH Corporation.

Kim Seyong, President of SH Corporation, said, "Not only for the Myeongil 1-dong Community Center but also for similar complex projects in the future, we plan to continuously promote them to ensure the smooth supply of public rental housing for young people in urban areas."

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