'New Hub in the Northeast Area' Gwangwoon University Station Area to Host Up to 49-Story Mixed-Use Facility

Si-KORAIL-HDC Hyundai Development Company, Preliminary Negotiations Conclude... Final Plan for Northeast Region New Economic Hub Development

[Asia Economy Reporter Onyu Lim] The 'Kwangwoon University Station Area Logistics Site,' which led regional economic revitalization in the 1980s but fell into disrepute due to aging facilities, dust, and noise, is being reborn as a new northeastern economic hub featuring office, commercial, and residential facilities up to 49 stories high.

Seoul City announced on the 21st that after about a year of three-party preliminary negotiations with Korail (landowner) and HDC Hyundai Development Company (developer), it has finalized the development plan for the 'Kwangwoon University Station Area Development Project.'

This project aims to create jobs and strengthen the region's self-sufficiency by establishing mixed-use functions such as residential, office, retail, and cultural facilities on the logistics site within the Kwangwoon University Station area (land area of 140,816㎡).

According to the preliminary negotiation results, the site will be developed into three zones (commercial office, mixed-use, and public land). The 'commercial office zone' will feature a landmark building up to 49 stories high, including a hotel, office, and retail facilities. The 'mixed-use zone,' combining commercial and residential facilities, will have a residential complex with 2,694 apartment units. A total of 11 apartment buildings, ranging from 35 to 49 stories, will be constructed. The lower floors will house shared offices and retail spaces.

On the 'public land' secured through public contributions, approximately 267 billion KRW from the development project's public contribution funds will be used to create resident convenience facilities and 320 public housing units. Life SOC such as a library, youth startup support center, and community center will be expanded to enhance residents' convenience.

Seoul City plans to use the public contribution funds not only to improve facilities within the development site but also to dramatically enhance infrastructure such as roads for residents near the Kwangwoon University Station area. A new east-west connecting road linking Kwangwoon University Station and Wolgye-dong, which had been separated by railway and logistics sites, will be constructed, along with two pedestrian overpasses (near the community center and Seokgyero) to improve accessibility to the logistics complex.

Following the development plan, the city intends to finalize the district unit plan by July through the Urban Architecture Joint Deliberation Committee to change the existing land use and ensure smooth project implementation. After completing related administrative procedures, construction is expected to begin as early as the first half of next year.

Lee Sang-myeon, head of Seoul City's Public Development Promotion Division, said, "Although the Kwangwoon University Station logistics facility site once led regional economic revitalization, it had faced residents' demands for relocation due to aging facilities. It will be reborn as a new economic hub in the northeast combining office, commercial, and residential functions. We will do our best to enhance the region's self-sufficiency and develop it as a central area that grows together with its surroundings."

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