268 Units of 'Station Area Youth Housing' Near Gaebong Station... Move-in in March 2023

[Asia Economy Reporter Yuri Kim] A total of 268 units of 'Gaebong-dong Station Area Youth Housing' will be built near Gaebong Station on Seoul Subway Line 1. The project consists of 50 public rental units and 218 private rental units, with construction scheduled to begin in March next year and move-in planned for March 2023.

On the 5th, Seoul City announced that it will demolish an existing 50-year-old outdated factory building in Gaebong-dong, Guro-gu, and construct a mixed-use residential building with a total floor area of 14,125.19㎡, spanning from three basement floors to 20 above-ground floors. The plan includes free installation of built-in home appliances and furniture, as well as facilities such as exercise rooms and coin laundries, designed with consideration for the lifestyle and quality of life of young residents, aiming to simultaneously ensure housing stability for local youth and revitalize the local economy.

The building will have parking lots from basement level 3 to basement level 1, neighborhood living and community facilities on the first floor, a resting garden for residents on the second floor, and youth housing from the second to the twentieth floor. Inside the housing units, various essential home appliances will be provided free of charge with built-in features to minimize the economic burden on young tenants and maximize storage space, incorporating excellent floor plans. To enhance residential comfort, all units will include expandable balconies.

On the first floor, facilities such as exercise rooms and coin laundries will be installed to meet the daily needs of young residents. Outdoor resting gardens are planned on the second and seventeenth floors, serving as relaxation and community spaces for tenants, fulfilling the demand for club facilities among youth in this station area youth housing project.

The building and main block layouts were designed considering the locational and scenic characteristics of Gaebong Station. The building arrangement features low-rise commercial facilities facing the street, while the upper floors are designed to minimize visual dominance. The city stated, "The private project operator highly values the growth potential of the Gaebong-dong area, and Seoul City has actively cooperated during the approval process, so we expect the project to proceed actively."

This station area youth housing project is supplied under the 'Special Act on Private Rental Housing' and the 'Seoul City Ordinance on Support for Station Area Youth Housing Supply.' The private project operator submitted an integrated application for urban management plan changes and building permits in June 2020. The city simultaneously conducted integrated committee reviews and building permit processes according to relevant regulations and announced the decision on the 8th. The city explained that the process was handled remarkably faster than other projects involving urban management plan decisions to minimize the burden on the private operator.

In this regard, Seoul City designated the area around 179-11 Gaebong-dong, Guro-gu, as a station area youth housing supply promotion district, approved the urban management plan, and officially announced the decision on the same day. The plan is to start construction in March 2021, announce tenant recruitment in December 2022, and complete and move in by March 2023.

Lee Jin-hyung, Director of Housing Planning at Seoul City, said, "With the first youth housing supplied in Guro-gu at Gaebong-dong, youth housing will expand throughout Seoul, which is expected to make a practical contribution to housing stability for young people. 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.