A Total of 5,678 Households Including 550 Public Rental Units... The Largest Single Complex in Incheon
[Asia Economy Reporter Park Hyesook] Incheon Urban Corporation (iH) announced that 'The Sharp Bupyeong Central City,' promoted as the first public-supported private rental linked redevelopment project in the metropolitan area, will begin move-in from the 10th.
The Sharp Bupyeong Central City is a project where iH carried out the residential environment improvement project in Sipjeong 2 District, Bupyeong-gu. It consists of 28 buildings with 5,678 households, ranging from 2 basement floors to 49 above-ground floors, making it the largest single complex in Incheon.
It comprises 1,550 sale apartments for landowners, 3,578 private rental units, and 550 public rental units.
Nearby the complex are Dongam Station (express) on Subway Line 1, Gyeongin Expressway (Gajwa IC), Sipjeong Sports Park, Baegun Park, and Manwolsan Park. Various living infrastructures such as Yeolumul Stadium, Bupyeong Art Center, and Homeplus are also well established.
Educational facilities include Hajung Elementary School, Sangjeong Elementary, Middle, and High Schools nearby, and two kindergartens and national/public daycare centers are planned to operate within the complex.
In particular, the apartment complex features Sansuwon and diverse trees planted seasonally, various themed gardens such as a children's water play park, and various convenience and community facilities including a fitness center, male and female saunas, a small library, and an indoor golf practice range.
The 'The Sharp Bupyeong' redevelopment project was suspended for a long time due to lack of profitability after receiving approval for the residential environment improvement project in 2009.
Later, in 2015, Incheon Urban Corporation participated as a new project operator, changed the project method from acceptance to management disposition, and linked it with the public-supported private rental housing project to accelerate the project.
The public-supported private rental linked redevelopment project is a method where general houses generated from urban redevelopment and reconstruction projects are collectively purchased as public-supported private rental housing and supplied to youth, newlyweds, and homeless people at prices lower than market rates for more than 8 years.
iH President Lee Seung-woo said, "Although we went through many ups and downs to improve the residential environment and revitalize the old downtown, this project area is significant as the first in the nation to successfully implement a real estate fund," adding, "We expect The Sharp Bupyeong Central City to establish itself as a new landmark in the region."
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