Hoban Construction won the contract for a street housing redevelopment project in the Myeonmok-dong area of Jungnang-gu, Seoul.
Hoban Construction said on the 26th that it won the contract on the 25th for the "Myeonmok Station District 6-5 Street Housing Redevelopment Project" in lot 113-1 and surrounding areas of Myeonmok-dong, Jungnang-gu, Seoul. The project will build six buildings from three stories underground to 29 stories aboveground, with 449 apartments and ancillary community facilities. The total construction cost is about 150 billion won.
The site offers easy walking access to Myeonmok Station and Sagajeong Station on Subway Line 7, enabling convenient travel to downtown Gangnam in Seoul. Major arterial roads such as the Dongbu Arterial Road and Yongma Tunnel are also easy to use, making the area a popular residential choice. In particular, the Myeonmok Station area is dense with aging housing, so improvements in the residential environment and an increase in local value are expected as redevelopment moves forward.
Living infrastructure is abundant. Homeplus Co., Dongwon Traditional Market, and the Sangbong-dong food alley are located near the complex, and green spaces such as Yongmasan, Sagajeong Park, and Kkachi Children's Park are close by, providing a pleasant residential environment. In addition, Myeondong Elementary School, Junghwa Middle School, and Myeonmok Middle and High Schools are located within a 1-kilometer radius, offering excellent educational conditions.
Hoban Construction plans to actively review additional bids linked to nearby areas centered on District 6-5 at Myeonmok Station and push forward with a Moa Town initiative. The Moa Town initiative is a small-scale redevelopment program by the Seoul Metropolitan Government that bundles multiple zones of aging low-rise residential areas for development.
An official at Hoban Construction's Seoul Business Office said, "We are continuously strengthening our capabilities to identify and carry out urban redevelopment projects in Seoul and the greater capital area, centered on the Seoul Business Office," adding, "Starting with District 6-5 at Myeonmok Station, we plan to push in earnest for Moa Town initiative development across the area."