HS Hwasung expanded the project by incorporating zone 4, adjacent to Myeonmokbon-dong zone 3 in Jungnang-gu, Seoul, increasing the scale from the existing 247 households to 512.
HS Hwasung said on the 31st that it incorporated the existing Myeonmokbon-dong zone 4 into the zone 3 project area. Accordingly, the contract amount also increased by about 85.2 billion won, from about 77.3 billion won to about 162.5 billion won.
The project site covers lot No. 1142 in Myeonmok-dong, Jungnang-gu, Seoul, with a total land area of about 16,535 square meters. It plans to build multifamily housing with three basement levels and 27 above-ground floors, along with ancillary welfare facilities.
HS Hwasung is continuing to win orders for the Moa Town initiative redevelopment in the Myeonmokbon-dong area. It previously won zones 5, 2, and 3 in sequence, and with the inclusion of zone 4 this time, the scope of the zone 3 project has been expanded.
Accordingly, HS Hwasung has secured construction rights for zones 2, 3, and 5 in the Myeonmokbon-dong Moa Town initiative, excluding zone 1.
If development proceeds to zone 1 in the future, a residential complex of about 1,500 households is expected to be created in the Myeonmokbon-dong area.
Lee Eun-chung, head of HS Hwasung's urban redevelopment project team, said, "By expanding the zone 3 project area this time, we have increased the project scale and strengthened the linkage of the redevelopment efforts underway in the Myeonmokbon-dong area," adding, "We will steadily carry out each project."