Cheongju Jibuk, Busan Gijang and 5 Other Locations Announce Public-Private Rental Housing Project Operator Recruitment

Cheongju Jibuk Public Support Private Rental Housing Project District Plan / Provided by the Ministry of Land, Infrastructure and Transport

[Asia Economy Reporter Noh Kyung-jo] The Ministry of Land, Infrastructure and Transport and Korea Land & Housing Corporation (LH) announced on the 26th that from the 27th, they will open a public contest to select developers for the construction and supply of 'Publicly Supported Private Rental Housing' in five project districts including Cheongju Jibuk.

Publicly supported private rental housing, which can be rented at prices lower than market rates for 10 years, prioritizes the homeless and allocates a special supply of at least 30% to youth, newlyweds, and the elderly.

The five project districts open for contest this time are Cheongju Jibuk, Gyeongsan Daeim, Gwangju Seonun 2, Busan Gijang, and Miryang Bubuk.

In the case of Cheongju Jibuk district, a total of 60,3751㎡ of land (A1 block 28,674㎡, A3 block 35,077㎡) will supply a total of 1,201 apartment units with exclusive areas of 60㎡ or less and over 60㎡ up to 85㎡. The scale is 540 units in A1 block and 661 units in A3 block.

Within 750m of the district, National Routes 25 and 17 intersect and connect at the Hyochon-Yangchon junction, and the Jungbu Expressway is nearby, making access to other regions convenient. Commercial and convenience facilities in Cheongju Dongnam district are shared, and there is abundant demand from the hinterlands such as Cheongju Technopolis and Osong Life Science Complex. Additionally, there are more than 10 elementary, middle, and high schools within a 2km radius.

Gyeongsan Daeim district will have 982 units on a total land area of 50,667㎡. Specifically, A10 block (11,618㎡) will have 246 units of 60㎡ or less, and B2 block (39,049㎡) will have 736 units over 60㎡ up to 85㎡.

Subway Line 2 stations Imdang, Yeungnam University, and Jeongpyeong are right in front of the district, and the Gyeongbu Expressway, Jungang Expressway (Daegu-Busan), and Daegu International Airport are nearby. Yeungnam University, Gyeongsan 4 Industrial Complex, Gyeongsan City Hall, and Innovation City are all close by. Kindergartens and elementary, middle, and high schools are planned to be established within the district.

Gwangju Seonun 2 district, located 8 minutes by car from Gwangju Songjeong Station on Subway Line 1, will build 494 units over 60㎡ up to 85㎡. The total site area is 28,848㎡.

It offers easy access to Gwangju Airport and Gwangju Muan Expressway, and there are more than six industrial complexes around the district including Bitgreen National Industrial Complex, providing abundant residential demand. The district also features Seonun neighborhood park and Eodeungsan hiking trails. Commercial and convenience facilities of Seonun 1 district are available, and kindergartens and elementary schools will be established within the district.

Busan Gijang district plans to supply 1,100 units over 60㎡ up to 85㎡ on a total land area of 49,812㎡.

Gijang Station on the Donghae Line subway is 1.3 km from the district, and Gijang-daero is 300m away, making access to Busan city center convenient. The Donghae Expressway (Busan-Ulsan) and National Route 14 are also nearby. The East Busan Tourism Complex is adjacent, and natural-friendly living is possible with Sarasu Waterfront Park. The residential environment is well established with Gijang County Office, health center, and Dongnam Regional Radiation Medical Center.

Miryang Bubuk district will build 307 units over 60㎡ up to 85㎡ on a total of 21,491㎡.

National Route 58 borders the district, and the Jungang Expressway (South Miryang Interchange), Hamyang-Ulsan Expressway (Miryang Junction), and KTX Miryang Station are nearby. Within a 5 km radius, there are more than six industrial complexes including Nano Convergence National Industrial Complex and Sapo General Industrial Complex. Convenience facilities such as health centers, Miryang City Library, and large marts, as well as the riverside environment of Miryang River, are all available.

Detailed contest information for the five project districts can be found on the LH website. Letters of intent must be submitted from January 10 to 3 p.m. on January 11 next year. The preferred negotiation candidate will be announced in March next year after reviewing business plans. Once selected as the preferred negotiation candidate, the project will proceed in earnest through detailed business consultations with the Housing & Urban Guarantee Corporation (HUG), approval of housing business plans, approval of housing and urban fund investments, rental REIT business licensing, and signing of project agreements.

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