Move-in for 'Dapsimni 17 District' Redevelopment Complex Implemented by SH Corporation

Exterior view of E-Pyeonhansesang Dapsimni Artefore in Seoul Dapsimni District 17. Provided by SH Corporation

Seoul Housing & Communities Corporation (SH Corporation) announced on the 26th that 'e-Pyeonhansesang Dapsimni Artefore' has begun move-in.

e-Pyeonhansesang Dapsimni Artefore is a complex redeveloped from Dapsimni District 17, located at 12 Dapsimni-dong, Dongdaemun-gu, Seoul. The 13,850.9㎡ area of old residential land was redeveloped into an apartment complex consisting of 6 buildings, ranging from 2 basement floors to 21 above-ground floors, with a total of 326 households. SH Corporation has been involved as the project operator since 2011. Move-in starts from the 28th.

SH Corporation expects the success of e-Pyeonhansesang Dapsimni Artefore to contribute to the expansion of public-private collaboration models. This is because it is an exemplary case where the public and private sectors closely cooperated to successfully complete a previously stalled project.

Dapsimni District 17, which faced difficulties in project advancement due to insufficient agreement rates for association establishment caused by housing market recession, contractor withdrawal, and inability to secure funding, got back on track after SH Corporation was designated as the project operator in July 2011.

As a public project operator, SH Corporation comprehensively managed the private construction project, effectively reducing various project loss concerns such as rising construction costs and real estate market downturns, and also cut project expenses through direct supervision. In particular, by directly handling 'construction cost verification,' it prevented construction cost disputes or project stoppages, unlike many recent redevelopment sites experiencing conflicts.

Hwang Sang-ha, President of SH Corporation, stated, "Based on the expertise and know-how accumulated over the past 36 years, we will expand cooperation with the private sector and spread successful public-private collaboration models." He added, "Through this, we will increase the supply of high-quality housing and contribute to the residential stability of Seoul citizens."

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