Suncheon-si to Build 'Half-Price Rental Apartments for Newlyweds' Happy Housing in Jogok District

Agreement with LH the Previous Day, Renting Multi-family Housing at Prices Lower than Surrounding Market Rates

[Suncheon=Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Suncheon City (Mayor Heo Seok) announced on the 26th that it signed a "Business Agreement for the Construction of Happy Housing in Suncheon Jogok District" with LH (Korea Land and Housing Corporation) the day before.

This happy housing project plans to build about 140 rental apartments with low rent on a 3,118㎡ site at 204-2 Jogok-dong, with construction scheduled to start in May next year after completing administrative procedures such as housing construction project plan approval, aiming for occupancy in December 2023.

According to the agreement, Suncheon City will support securing the project site and housing construction permits, while LH will take charge of design, construction, housing supply, and operation.

The city plans to supply this happy housing to young people, newlyweds, and housing-vulnerable groups at rents lower than the surrounding market prices to alleviate economic burdens and provide a stable residential environment.

Mayor Heo Seok of Suncheon said, "With the signing of this business agreement, the residential conditions of the old downtown will improve, and through the construction of happy housing, a stable residential environment for the younger generation is expected to be created," adding, "We will actively strive for smooth project progress through communication and cooperation with LH."

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