SH Corporation to Supply 489 Station-Area Youth Housing Units near Gunja Station and Others

[Asia Economy Reporter Kim Hyemin] Seoul Housing and Communities Corporation (SH Corporation) announced on the 30th that it will recruit tenants for 489 youth housing units near subway lines 5 and 7 at Gunja Station.

Transit-oriented youth housing (public housing) is newly built housing supplied at about 30% of the surrounding market price, targeting university students, youth, and newlyweds. It is located within an average 5-minute walk from the station and is equipped with various community facilities such as a book cafe, laundromat, lounge, and neighborhood living facilities. University students and youth can live for up to 6 years, and newlyweds with children can stay up to 10 years.

This supply targets 463 units in new complexes and 26 remaining vacant units due to previous tenants moving out or contract cancellations. From this announcement, SH Corporation has improved the share-type tenant recruitment method, allowing 2 to 3 people such as siblings or acquaintances to apply as a team and live together.

Applicants must be between 19 and 39 years old as of the announcement date, meet the requirement of being homeless, have a household monthly average income of 120% or less of the previous year's urban worker household income by household size, meet the total household asset value criteria, and not own a car. These criteria vary depending on the supply target.

Applications will be accepted from July 13 to 15 through the SH Corporation website. The announcement of document screening candidates is on the 27th of the same month, and the final winners will be announced on December 16. Move-in will be possible from March to May next year.

Meanwhile, Seoul City strengthened the eligibility criteria for transit-oriented youth housing tenants in May to increase housing opportunities for low-income groups. This includes verifying parents' income and prioritizing recipients of government aid, single-parent families, and lower-income classes. These criteria will be applied for the first time from the second half of this year to the first half of next year.

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