Construction of 'Public Rental Housing' in Asan Baebang District, Chungnam... Accepting Letters of Intent for Land Lot Bidding Participation

Two parcels in Asan Baebang District, Chungnam, the target site for the public contest (Data from the Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Moon Jiwon] The Ministry of Land, Infrastructure and Transport and Korea Land & Housing Corporation (LH) announced on the 26th that they will accept letters of intent from developers to participate in the land bidding for the construction of 'publicly supported private rental housing' on two plots in the Asan Baebang district in Chungnam owned by LH on May 7-8.

Publicly supported private rental housing is designed to reduce the burden of ownership and enhance the value of residence, allowing low-income households to live securely for eight years. The rent is lower compared to surrounding market prices, and a certain portion is supplied to non-homeowners, youth, and newlyweds.

The land bidding site is located in two blocks (A-9, A-10) of the Asan Baebang district in Baebang-eup, Asan-si, Chungnam, covering a total area of 56,867㎡, where 554 townhouses with exclusive areas of 60 to 85㎡ or less will be supplied.

This location is adjacent to the Gyeongbu Expressway, offering excellent metropolitan transportation, and is close to the soon-to-open Tangjeong Station on Line 1 and KTX Cheonan-Asan Station. Nearby, Samsung Display City and the Cheonan LG Household & Health Care Future General Industrial Complex are expected to be established.

Additionally, Chungnam Samsung High School and Chungnam Foreign Language High School are located nearby, along with E-Mart Traders, Lotte Mart, and Galleria Department Store in close proximity.

The land bidding guidelines include reflecting the applicant's housing service certification performance over the past three years in the evaluation for selecting the project implementer, and newly incorporating guidelines for shared-type publicly supported private rental housing.

LH will receive project proposals on May 28 only from developers who have submitted letters of intent, and will select a preferred negotiator through evaluation in June. The selected preferred negotiator will proceed with the project in earnest after consulting with the Housing & Urban Guarantee Corporation (HUG) on specific plans, followed by procedures such as housing project plan approval, Housing and Urban Fund investment approval, rental REIT business licensing, and signing of project agreements.