162 Units of 'Yeoksekwon Youth Housing' Near Singil Station... Move-in in October 2022

Public 34 Households, Private 128 Households... Urban Management Plan Decision Notice on the 10th
Fully Equipped Built-in Appliances Inside Housing, Seminar Room, Book Cafe, etc. to Meet Youth Demands
Construction Starts in Early Next Year, Move-in in October 2022... Expected Youth Housing Stability and Regional Revitalization

[Asia Economy Reporter Yuri Kim] A total of 162 units of 'Shingil-dong Station Area Youth Housing' will be built near Shingil Station on Seoul Subway Line 1.

On the 10th, Seoul City announced that the Shingil-dong Station Area Youth Housing, consisting of 34 public rental units and 128 private rental units, will begin construction in January next year and is scheduled for occupancy in October 2022. The total floor area is approximately 6,662.493㎡. It will be constructed as a mixed-use residential building from basement level 1 to the 15th floor above ground.

Full-option built-in appliances will be installed free of charge, and communal facilities such as seminar rooms and a book cafe will also be included. The city plans to simultaneously promote housing stability for local youth and revitalize the local economy through facility planning that considers the lifestyle and quality of life of young people.

The basement level 1 will be a parking lot, and the 1st and 2nd floors above ground will house neighborhood living facilities, with part of the 2nd floor designated as communal facilities for residents. Floors 3 through 15 will be youth housing. The interior of the housing will provide various built-in appliances free of charge as full options to minimize the economic burden on resident youth and maximize storage space necessary for daily life. To enhance residential comfort, all units will have extended balconies planned. On the 2nd floor above ground, community facilities such as seminar rooms and a book cafe will be installed. The 1st floor above ground will feature a Green Yard to create a resting place for resident youth, and the outdoor terrace on the 9th floor will also be designed as a community yard, aiming to meet the community facility needs of young people in this station area youth housing.

The city expressed expectations, stating, "The private project implementer also highly values the growth potential of the Shingil-dong area, and since Seoul City has actively cooperated during the approval process, the project is expected to proceed actively."

This station area youth housing project began when the private project implementer submitted an integrated application for urban management plan changes and building permits to the city at the end of April, in accordance with the 'Special Act on Private Rental Housing' and the 'Seoul City Ordinance on Support for Station Area Youth Housing Supply.' The city simultaneously conducted integrated committee reviews and building permit processes according to relevant regulations. The city explained, "To minimize the burden on private developers, the process was handled remarkably faster compared to other projects involving urban management plan decisions."

In this regard, Seoul City announced that it designated the area 173-6, Shingil-dong, as a Station Area Youth Housing Supply Promotion District, approved the urban management plan, and officially announced the decision on the 10th. Construction is planned to start in January next year, with a recruitment announcement for residents in May 2022, and completion and occupancy scheduled for October 2022.

Lee Jin-hyung, Director of Housing Planning at Seoul City, said, "As station area youth housing expands throughout Seoul, it is expected to make a practical contribution to housing stability for young people," adding, "We will continue to do our best to actively supply high-quality, affordable, customized housing for university students, young workers, and newlyweds in well-connected station areas."

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