Korea Real Estate Investment & Trust Co. (KOREIT) said on Sept. 8 that Hanyang Yeonlip Moa Housing in Gwangjin District, Seoul (hereinafter Gangbyeon Station Central I-Park) finished construction on Aug. 25 and began move-ins for 215 households on Sept. 7.
Gangbyeon Station Central I-Park, completed this time, is the first completed complex under Seoul City's Moa Housing. The previously aging low-rise residential area of 99 households was redeveloped into up to 15 stories above ground, totaling 215 households.
By applying regulatory easing under the Seoul City Moa Housing review standards, the project's feasibility was strengthened. The original plan called for six buildings with 211 households, but with the introduction of the Seoul City Moa Housing review standards in 2022, the height was increased to a maximum of 15 stories (215 households) and the number of buildings was reduced to four, creating a more pleasant complex environment.
Newly built apartments have gone up near the project site, and with the relocation of the Gwangjin District Office's new building and large corporations' headquarters transfer underway, the residential environment has also improved.
A Korea Real Estate Investment & Trust Co. (KOREIT) official said, "With the title of 'first completed Moa Housing,' we have once again delivered a successful example of a renewal project," adding, "We will do our best to ensure the remaining schedule, including move-ins, proceeds without a hitch."