HDC Hyundai Development Company said on the 22nd that it was selected on the 20th as the builder for the redevelopment of Busan Oncheon District 5.
At the general meeting held on the 20th, 342 union members in attendance voted, and HDC Hyundai Development Company won the construction rights with 323 votes (94.4%).
The Busan Oncheon District 5 redevelopment will be carried out at 1462-30 Oncheon-dong, Dongnae District, Busan, with six buildings ranging from three floors underground to up to 39 floors above ground, totaling 902 households. The total project cost is 377.7 billion won.
Within a 1-kilometer radius of Busan Oncheon District 5 are Minam Station and Sajik Station (Busan Metro Lines 3 and 4) and Dongnae Station (Busan Metro Lines 1 and 4). Nearby are also various educational facilities, including Minam Elementary School, Geumgang Elementary School, Naeseong Middle School, Yeomyeong Middle School, and Isabel High School. In addition, education, medical, cultural, and lifestyle infrastructure such as the Homeplus Co. Asiad branch, Busan Sajik Sports Complex, Busan Medical Center, and the Sajik Station private academy district are in place.
HDC Hyundai Development Company proposed a community design for the Busan Oncheon District 5 redevelopment that highlights educational facilities such as a library and study rooms, along with an exterior specialization inspired by Geumjeongsan and Oncheoncheon.
A HDC Hyundai Development Company official said, "We will create a landmark complex based on the unique technology of I-Park, built through supplying more than 500,000 households, to repay the support you have given us," adding, "Going forward, we will continue to win bids at selected sites not only in the greater Seoul area but also across the country and expand our influence in the urban renewal institutional sector."
Meanwhile, with this order for the Busan Oncheon District 5 redevelopment, HDC Hyundai Development Company's cumulative urban renewal orders this year reached 4.1651 trillion won.