Residential Complex Securing Triple Station Area of Cheongnyangni Station, Jegidong Station, and Yongdu Station
Steady sellers in the housing market, transit-oriented complexes continue to show strong performance despite the economic downturn. Located within walking distance of subway stations, these complexes offer convenient commuting and well-established infrastructure, along with the expectation of high premiums based on consistent demand.
The popularity of such transit-oriented complexes has increased further as high-intensity regulations targeting the housing market have been implemented one after another. The entry barriers for residential products have risen, leading to intensified concentration on complexes with proven value over time.
In particular, transit-oriented complexes in central Seoul enjoy a scarcity premium, making them so popular that they sell out immediately upon launch. For example, the ‘Dapsimni Station Ziwell Estate’ launched last November recorded a high competition rate of up to 135.7 to 1, with an average of 40.2 to 1. This complex, located within walking distance of Dapsimni Station on Subway Line 5 and Sindap Station on Line 2, was praised for its excellent accessibility. Similarly, ‘Gangdong Jungang Heights City,’ a transit-oriented complex near Gangdong Station and Gildong Station on Line 5, attracted 4,666 applicants for 81 units, resulting in an average competition rate of 57.6 to 1.
Recently, a triple-line transit-oriented complex in the Cheongnyangni area, emerging as a major project in the northern part of Seoul, is drawing attention ahead of its launch. The project is ‘Hillstate Cheongnyangni Metroble,’ constructed by Hyundai Engineering & Construction.
‘Hillstate Cheongnyangni Metroble’ is a residential complex located in the Dongdaemun-gu area of Seoul. It consists of two buildings ranging from six basement floors to 28 above-ground floors, comprising 288 urban lifestyle housing units (including 75 public rental units) and 96 officetel units. It is part of the Cheongnyangni Redevelopment District, which has been rapidly developing recently, attracting significant interest.
This complex boasts a rare triple-line transit-oriented location even among new developments. Within about a 5-minute walk is Yongdu Station on Line 2, about a 6-minute walk to Jegidong Station on Line 1, and about a 7-minute walk to Cheongnyangni Station, served by Line 1, Bundang Line, Gyeongui-Jungang Line, Gyeongchun Line, and KTX, allowing residents to choose transportation options that fit their lifestyle. It takes about 10 minutes by subway to reach Jongno and City Hall areas and 20 to 30 minutes to Gangnam, which is expected to satisfy office workers.
Additionally, the area is well connected by roads such as the Internal Circulation Road and Dongbu Expressway, offering excellent vehicle accessibility. Large-scale transportation development projects are underway, which will further enhance the transportation infrastructure in the future.
First, according to the 2nd Seoul Urban Railway Network Construction Plan, the Dongbuk Line at Jegidong Station began construction in 2020 and is scheduled to open in 2024. The Dongbuk Line will span 13.4 km with 16 stations from Wangsimni to Sanggye, expected to become a key transportation network in northeastern Seoul.
For Cheongnyangni Station, additional lines such as the Metropolitan Area Express Railway (GTX) B and C lines, the Suseo High-Speed Railway (SRT) extension to Uijeongbu, Myeonmok Line, and Gangbuk Transversal Line are planned. The GTX B and C lines and Gangbuk Transversal Line are scheduled to start construction within the year. Once GTX opens, accessibility to Gangnam will be further improved, expected to drive stable price increases.
Moreover, the project is close to the Cheongnyangni Station commercial district and nearby facilities such as Lotte Mart, Homeplus, Lotte Department Store, and Lotte Cinema, as well as convenience facilities like the Seoul Metropolitan Eastern Hospital and Dongdaemun District Office, providing excellent living conditions.
The residential units will be offered in various types, including urban lifestyle housing ranging from 26 to 48 square meters and officetels from 32 to 40 square meters. Hyundai Engineering & Construction’s IoT system, ‘Hi-oT,’ will be applied, enabling a more comfortable and convenient living environment.
On the first to third floors, a neighborhood commercial facility called ‘Hills Avenue Cheongnyangni Metroble’ will be established. It features specialized designs with external exposure for all units, expected to provide high visibility and accessibility. The commercial facilities are also scheduled to be launched simultaneously with the residential units.
Meanwhile, ‘Hillstate Cheongnyangni Metroble’ allows anyone aged 19 or older to apply for urban lifestyle housing and officetel units without a subscription savings account, and there are no restrictions on re-winning. For officetels, 10% of the supply units will be preferentially allocated to Seoul residents. Since fewer than 100 units are supplied, resale of pre-sale rights is also possible.
Hillstate Cheongnyangni Metroble plans to open a model house.
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