IPARK Hyundai Development (IPARK HDC) said on the 13th that it won the public participation redevelopment maintenance project for Taepyeong District 3 in Seongnam, Gyeonggi Province, with a total project cost of 585.2 billion won.
According to IPARK HDC, the Taepyeong District 3 residents' representative meeting selected the IPARK HDC–Kolon Global consortium (hereinafter the IPARK project group) as the final Sigongsa at the full meeting of all land and other owners to select the builder held on the 12th.
In this vote, the project group won 1,038 out of a total of 1,128 votes, recording a 92% approval rate. Through this award, IPARK HDC secured a construction equity of 585.2 billion won out of the total contract amount of 900.3 billion won, marking its first maintenance project performance of the year.
The public participation redevelopment of Taepyeong District 3 is a large-scale project to build 2,480 households of multifamily housing on a site of about 37,809 pyeong around 4580 Taepyeong-dong, Sujeong-gu, Seongnam, Gyeonggi Province. Korea Land & Housing Corporation (LH) is joining as the project implementer to carry out permitting procedures, relocation measures, and financing. Despite being a consortium award, IPARK HDC decided to introduce the single brand IPARK, which residents prefer. It also put forward a strategy to oversee everything from design to construction and quality control as the lead company.
Under the tentative name "IPARK THE FORTRESS," the IPARK project group proposed a landmark design inspired by a medieval fortress. In particular, it reduced the 36 buildings in the existing maintenance plan to 24, about a 30% cut, widening the distances between buildings and maximizing openness within the complex. The space freed up by fewer buildings will be filled with a large, mixed-use central plaza of about 6,300 pyeong, three times the size of a soccer field.
In addition, even under flight altitude restrictions, it raised the maximum height from the existing 15 stories to 19 stories by using a method that utilizes the deck level. It also offers differentiated features such as a 270-degree panoramic view sky community overlooking the Cheonggye Mountain landscape, a 730-meter roofed colonnade that allows movement regardless of weather, and a 130-meter grand main gate. Breaking away from the previous public apartment model focused on small units, it increased the share of mid-to-large units, and it also features 1.5 parking spaces per household and dedicated storage rooms for each unit.