Former Seongsu Police Equestrian Unit Site to Become 'Youth Housing Complex'... Project Plan Set for Second Half, Completion by 2030

Provision of 400 Youth Housing Units and Communal Spaces

On the afternoon of August 14, the Ministry of Economy and Finance held an on-site meeting at the former police equestrian unit site in Seongsu-dong, Seoul, to discuss the development of public housing for young people and low-income citizens by utilizing state-owned land and aging public buildings.

The meeting, presided over by Ahn Sangyeol, Director General of Fiscal Management at the Ministry of Economy and Finance, was attended not only by representatives from the National Police Agency and Korea Asset Management Corporation but also by private sector experts from Samil Accounting Corporation and Bookook Securities.

Previously, on August 12, the Ministry of Economy and Finance announced the "2026 Comprehensive National Property Plan," stating its intention to supply more than 35,000 public housing units for young people and low-income citizens by utilizing state-owned land and aging public buildings. The ministry also identified the former police equestrian unit site, Gwangmyeong Tax Office, and Seoul Immigration Office as candidate sites for these projects.

The former police equestrian unit site had been used as a facility for the police equestrian unit and a horse stable since 1972, but its operation ended in February last year with the disbandment of the unit. Currently, some of the buildings are being temporarily used by the National Police Agency.

The Ministry of Economy and Finance plans to develop this site not merely as a residential facility, but as a symbolic and creative flagship youth housing complex.

The residential buildings will provide approximately 400 units of youth housing, while the communal spaces will be designed as open community areas, including temporary specialty stores (pop-up stores) and exhibition and art spaces, to create a hub for youth entrepreneurship and culture.

The ministry aims to establish a detailed project plan in the second half of the year, select private sector partners, complete architectural design and permitting, and begin construction in 2028, with completion targeted for 2030.

Director General Ahn stated, "The youth housing development project at the former Seoul police equestrian unit site is a leading example that can simultaneously achieve two objectives: utilizing idle state-owned land and stabilizing housing for young people."

He added, "We will work closely with the National Police Agency, Korea Asset Management Corporation, and others to expedite this project, and we will actively seek various measures to support youth housing in the future."

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