Changwon City, Bukmasan Redevelopment Area Rapidly Emerging as a 'New Urban Residential Complex'

Expectations for Large-Scale New Urban Residential Complex with Over 6,600 Households in Bukmasan Redevelopment Area

Panorama of Bukmasan.

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] The Bukmasan area is rapidly emerging as a new urban residential complex.

The Bukmasan area has long been recognized as a representative vulnerable area in the 'old' Masan district, mainly inhabited by low-income residents and suffering from poor infrastructure.

However, once the Bukmasan redevelopment projects are completed within the next 2 to 3 years, it is expected to be developed into a large-scale residential complex with over 6,600 households.

The city was selected as the first public-supported private rental project site in Gyeongnam and successfully completed construction and occupancy in August last year.

For the Hoeweon 1 District redevelopment site, which is facing difficulties in occupancy due to construction delays, priority completion approval will be granted for the apartment units.

Currently, the Hoeweon 1 and 3 District redevelopment projects have surpassed a 97% occupancy rate.

The city has secured the related budget for road expansion at the Gukje Gas Station intersection to prepare for the increased traffic volume expected with the occupancy of over 6,600 households and has already started the project.

Additionally, the Gyobang 1 District, which began construction in March, has attracted high demand from buyers, achieving a final contract rate of 99%, and is regarded as a model redevelopment project that successfully improves residential environments while ensuring business feasibility.

Furthermore, the Hoeweon 2 redevelopment site, currently undergoing relocation and demolition, aims to begin construction in the first half of next year.

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