BS Hanyang to Launch First Housing Project in Cheongju as Construction Company for 921-Unit Private Rental Apartment Complex

On November 5, BS Hanyang announced that it will participate as the prospective construction company for the "Cheongju Honggol Pre-Recruitment Type Private Rental Project" in Gagyeong-dong, Heungdeok-gu, Cheongju, Chungbuk. This marks BS Hanyang's first housing project in Cheongju.

This project is part of a private park special exemption initiative promoted by Honggol Park Development Co., Ltd. On a non-park facility site, the plan is to build 921 long-term private rental housing units across seven buildings, ranging from three basement levels to 29 above-ground floors. The units will be operated as rentals for ten years before being converted to for-sale housing.

Expected bird's-eye view of the pre-recruitment type private rental project in Honggol, Cheongju, Chungbuk. BS Hanyang

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The complex will be located in Gagyeong-dong, which offers excellent transportation and educational infrastructure. A large park of approximately 132,000 square meters is being developed nearby, making the site highly valued as a "forest zone" with direct park access from the complex.

All units will be 84 square meters in exclusive area, a size in high demand. As these will be supplied as rental housing, they are excluded from the official housing count, and both resale and transfer are permitted. A significant number of pre-occupancy tenants have already been recruited. Residents will be granted priority to purchase their units at the current price after ten years.

BS Hanyang considers this a stable project with minimal risk of unsold units, as demand has already been secured. Based on this, the company plans to gradually expand its residential business in Cheongju.

A BS Hanyang representative stated, "We are able to participate in the construction of the Cheongju Honggol private rental project thanks to the proven competitiveness of the Sujain brand, as demonstrated in projects such as 'Hangang Sujain Ovescent' in Gimpo (3,058 units), 'Hanyang Sujain Graciel' in Cheongnyangni, Seoul (1,152 units), 'Sujain Roiscent' at Inha University Station in Incheon (1,199 units), and 'Hanyang Sujain Ecocity' in Cheonan (3,200 units). We aim to establish this complex as a landmark in the region."

The private park special exemption project is a system that enables the rapid development of urban parks that have not been established for an extended period by utilizing private capital. Private developers are required to create parks on at least 70% of the park site and donate them to the local government, while being allowed to develop non-park facilities such as apartments on up to the remaining 30% of the land.

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