"Private Apartments in Public Housing Sites"…Hillsstate Richeville Gangil, Launching Sales This Month

[Asia Economy Reporter Yuri Kim] Hyundai Engineering & Construction announced on the 9th that it plans to sell 'Hillstate Reshville Gangil' in Block 5 of the Godeok Gangil Public Housing District in Gangdong-gu, Seoul, together with Gyeryong Construction at the end of November.

Hillstate Reshville Gangil consists of 7 buildings ranging from 2 basement floors to 27 above-ground floors, with 809 apartment units in two housing types of 84㎡ and 101㎡ (exclusive area). The units are composed by housing type as follows: ▲84㎡LA 54 units ▲84㎡LAC 88 units ▲84㎡LB 58 units ▲84㎡LC 20 units ▲84㎡LD 16 units ▲84㎡TA 81 units ▲84㎡TB 176 units ▲84㎡TC 16 units ▲84㎡LDA 15 units ▲84㎡LDB 19 units ▲84㎡LDC 19 units ▲101㎡LA 51 units ▲101㎡LB 42 units ▲101㎡TA 82 units ▲101㎡TB 72 units.

With the enforcement of the revised 'Housing Supply Regulations' on September 29, 15% of the supply volume under 85㎡ in Hillstate Reshville Gangil, a private apartment in a public housing site, will be allocated for special supply for first-time homebuyers. Eligibility requires being the head of a household without a home, married or having children, and having paid income tax for more than 5 years as a worker or self-employed person. Income must be 130% or less of the average monthly income per household of urban workers in the previous year.

For newlyweds purchasing a home for the first time, income criteria are relaxed when buying a home priced between 600 million and 900 million KRW; applications are possible if the household income is 130% (140% for dual-income) or less of the average monthly income of urban workers. Additionally, children born out of wedlock but recognized as children of a married couple are also accepted as meeting the child requirement for the special supply for newlyweds. Furthermore, priority supply criteria for overseas workers have been eased, allowing those assigned alone to overseas workplaces to be recognized as residents in Korea.

The Godeok Gangil Public Housing District, where this complex is located, is subject to the price ceiling system as a public housing site in Seoul, so it is expected to have price competitiveness compared to surrounding market prices. 50% of the total supply will be allocated to residents of the relevant area (Seoul), and 50% to residents of the metropolitan area (Gyeonggi, Incheon), allowing metropolitan area residents to apply in the first priority subscription.

The complex is located in a public housing site in Gangdong-gu, Seoul, and is also adjacent to Hanam Misa Riverside City. It is close to the Han River, Godeok Waterside Ecological Park, and Mangwolcheon Stream. Gangbit Elementary and Middle School is scheduled to open in the first half of next year within walking distance, and Gangil Elementary, Gangdong Middle, and Gangil High School are nearby. It is also close to highly preferred schools by parents such as Hanyoung Foreign Language High School and Paichai High School.

Various infrastructure such as commercial facilities located within the Godeok Gangil Public Housing District, kindergartens, public offices, and libraries will be established. Gangdong Kyung Hee University Hospital, E-Mart, Costco, and Starfield Hanam are located nearby. The Metropolitan Area 1st Circular Expressway, Seoul-Yangyang Expressway, and Olympic-daero are adjacent, and development projects for the extension lines of subway lines 5 and 9 are also progressing rapidly.

The specialized exterior design, which won the design competition held by Seoul Housing & Communities Corporation (SH Corporation), also stands out. The complex harmoniously arranges low-rise buildings of 6 floors above ground and high-rise buildings ranging from 12 to 27 floors. Low-rise buildings are concentrated at the front of the complex to consider views from the high-rise sections. Facilities such as a children's library, community facilities, children's bus stops, and neighborhood living facilities are appropriately arranged within the complex considering efficient circulation.

The model house will be located at 572-1 Sinjang-dong, Hanam-si, Gyeonggi Province. To prevent the spread of COVID-19, it will operate by advance reservation. Reservations can be made through the Hillstate Reshville Gangil website.

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