- Gwangju Cultural Plaza Development, Child-Friendly Apartment Environment Project and Other Development Benefits Continue...
- Emerging Residential Belt Revitalized through Seongyo Urban Development Project... New Economic Vitality Expected in Gwangju
Several development prospects in Dong-gu, Gwangju are expected to revitalize the local economy. As an area included in the existing old downtown, it boasts well-developed residential infrastructure such as education, living, and transportation, drawing the attention of Gwangju citizens with various development projects that will enhance the value of the region.
The development prospects are as follows. On the 13th, Dong-gu, Gwangju announced plans to create the 'Gwangju Culture Plaza' around the 5.18 Democracy Square. The project will invest a total of 2.7 billion KRW and plans to establish a themed garden, improve nighttime scenery, install art benches, and various convenience facilities. Through this project, the 40th anniversary of the May 18 Democratic Movement will be commemorated, sharing the significance and spirit of the May 18 Uprising with future generations, and revitalizing urban tourism through visitors.
Additionally, aiming to become a child-friendly city, on the 13th, SM Group's construction subsidiaries SM Samra and SM Highplus signed a business agreement with Dong-gu Office to implement a 'Child-customized Apartment Environment Creation' project.
This project plans to apply child-friendly models in both apartment exclusive spaces and common areas. SM Samra and SM Highplus stated they will jointly strive to create an environment suitable for children to live in. Dong-gu Office announced it will actively support administrative tasks to fully establish a specialized Dong-gu type child-friendly city.
The apartment exclusive space sector includes △child-type storage cabinets suitable for children's age groups and △installation of cornerless furniture in child-exclusive spaces. The apartment common area sector plans to include △themed specialized children's playgrounds, △indoor and outdoor children's play spaces such as kids' stations within the complex, and △indoor moms' lounges.
Furthermore, Dong-gu is proceeding with the 'Seongyo Urban Development Project' site construction, aiming to complete it by February 2021. With a total budget of 52 billion KRW, the Seongyo Urban Development covers a total area of 118,504㎡ and will feature a large apartment complex with 1,400 households. To enhance convenience for residents, a road (L=1,582m), one small park, and three green spaces will be created.
Once the Seongyo district is completed following the Naenam district in Dong-gu, a new residential belt housing approximately 3,800 households and about 10,000 residents will be established in the southern part of Dong-gu, including the Wolnam district, playing a significant role in urban revitalization. Moreover, an advanced venture-specialized valley of about 2,700 pyeong is planned within the housing district, expected to inject new vitality into Dong-gu's economy.
Amid these numerous development prospects with excellent future value, SM Group is simultaneously offering for sale the Gwangju Seongyo District 1BL Woobang IU Shell in Seongyo-dong 21-3, Dong-gu, Gwangju, and the Gwangju Dongnim 2nd Woobang IU Shell in Dongnim-dong 288-1, Buk-gu, Gwangju.
The Seongyo District 1BL Woobang IU Shell, expected to directly benefit from various development prospects, consists of seven buildings from basement level 2 to ground level 20, with 490 units ranging from 47 to 59㎡. The number of units by exclusive area type is △47㎡ with 190 units, △49㎡ with 194 units, and △59㎡ with 106 units.
The Seongyo District Woobang IU Shell is planned as a large complex with a total of 1,400 households across 1BL and the planned Seongyo 2BL. Additionally, a child-customized design will support a school shuttle bus to provide a safe commuting environment for children, ensuring safe school commutes.
The Dongnim 2nd Woobang IU Shell consists of four buildings from basement level 2 to ground level 15, with 200 units ranging from 41 to 49㎡. The number of units by exclusive area type is △41㎡A with 29 units, △41㎡B with 30 units, △41㎡C with 12 units, △45㎡A with 18 units, △49㎡A with 81 units, and △49㎡B with 30 units.
Designed with child-customized facilities within the complex, it will embody the characteristics of a child-friendly complex. Woobang IU Shell's unique specialized design will enhance residential convenience. All units are small-sized under 49㎡, composed 100%, and designed with a slab-type cross ventilation structure (except for some units). Additionally, some units will be provided free of charge with two system air conditioners, a kimchi refrigerator, a washing machine, and engineered stone.
The Gwangju Seongyo District 1BL and Dongnim 2nd Woobang IU Shell aim to reduce the burden of homeownership for prospective buyers. First, as rental apartments available to anyone without a subscription savings account, anyone aged 19 or older can apply and contract regardless of homeownership status or income level.
Moreover, there is no monthly rent, and residents can live for up to eight years by paying only the deposit at the time of contract. Additionally, there is no tax burden such as acquisition tax, property tax, or capital gains tax, reducing the burden of homeownership.
Also, the complex applies the initial fixed sale price system. Unlike general rental apartments, this system allows residents to live for up to eight years before deciding whether to purchase. If the market price drops, residents can refuse without burden, and if the price rises, they can convert to ownership at the initially fixed sale price, enabling risk-free purchase.
With a promising future and easing homeownership burdens for the young generation aged 20 to 30, the Gwangju Seongyo District 1BL and Dongnim 2nd Woobang IU Shell showroom is located at 502-7 Sinan-dong, Buk-gu, Gwangju.
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