The urban public housing complex project near Yeonsinnae Station in Eunpyeong District, Seoul, has entered the compensation process. Korea Land & Housing Corporation (LH) plans to secure land ownership, proceed with relocation and demolition, and break ground at the end of next year. In a prime transit location served by the Metropolitan Express Railway (GTX)-A and Seoul Subway Lines 3 and 6, a mixed-use residential and commercial complex with 44 stories above ground and 392 households will be built.
According to the redevelopment industry on the 31st, LH began accepting applications on the 15th for in-kind compensation for the Yeonsinnae Station urban public housing complex district in Eunpyeong District. In-kind compensation is a method in which an owner of land or a building receives newly created dwellings or commercial space instead of cash.
LH plans to sign in-kind compensation contracts at the end of September and proceed with cash compensation and expropriation decisions to secure ownership of the project site. It will then begin resident relocation and demolition of existing buildings. An LH official said, "We are pushing the project with a goal of starting construction at the end of next year."
The project site covers 8,247 square meters around 319-1, Bulgwang-dong, Eunpyeong District. Applying a floor area ratio of 649.60% and a building coverage ratio of 55.72%, the plan is to create 392 units of multifamily dwellings from 6 floors underground to 44 floors above ground, along with 35 neighborhood living facility units. LH's Special Headquarters for Metropolitan Redevelopment Projects will carry out the project, and a consortium of Kumho E&C and Daebo Construction will participate as the mixed-use project partners. Kumho E&C's housing brand "Atera" is expected to be applied.
Yeonsinnae Station, served by GTX-A and Seoul Subway Lines 3 and 6, is within walking distance. The complex will also include a skybridge offering views of Bukhansan Mountain and the Yeonsinnae urban area.
The supply types are 246 units for general public sale, 79 units for profit-sharing, and 67 units for public rental. The profit-sharing type supplies dwellings at a lower price than general public sale, and when the owner disposes of the unit, the public housing operator repurchases it and shares the gain or loss on disposal. Specific supply prices and the number of units for general subscriptions will be finalized after the scale of in-kind compensation contracts and price deliberations.
The Yeonsinnae Station project site was selected as a candidate in 2021 when the urban public housing complex project was introduced. It was designated as a complex district in December of the same year, and it passed Seoul City's integrated public housing review in Oct. 2023. Seoul City approved the complex project plan in December that year.
Selecting the project participants took time. After failing to find a participant in two rounds of bidding, LH adjusted conditions such as construction costs and held a third round. The consortium of Kumho E&C and Daebo Construction was selected as the mixed-use project partner in June 2025.
Private redevelopment is also underway around Yeonsinnae Station. The 2,451-unit "Hillstate Mediale," redeveloped from the Daejo District 1, is set to begin occupancy in Oct. The Galhyeon District 1 project, built by Lotte E&C, broke ground in Dec. last year, and a recent change to the redevelopment plan increased supply to 4,467 units. The Bulgwang District 5 project, built by GS Engineering & Construction, will also comprise 2,425 units, and resident relocation is now in its final stage.
The GTX-A section between Unjeong Jungang and Seoul Station opened in Dec. 2024. The government is pushing to fully open GTX-A, including a stop at Samseong Station, by 2028.
Sim Hyeong-seok, a senior committee member at Law Firm Joyul, said, "Since GTX-A opened, Yeonsinnae Station has emerged as a key transportation hub in northwestern Seoul," adding, "Once the new complexes in the area are built in sequence, a large residential living zone will take shape."