“Pohang Buk-gu Old Downtown and New Town Connection”…New Apartment Planned in Uhyeon-dong for Second Half of the Year

- Basement 3rd floor to 25th floor above ground, exclusive area 74~109㎡, 6 buildings totaling 469 households... Scheduled as a 'Big Brand'
- Upon completion of adjacent road development, sharing vision and value between Buk-gu old downtown and KTX station area new town possible

[▲Aerial view of the apartment project site scheduled to be supplied in the second half of the year in Uhyeon-dong, Buk-gu, Pohang (Image=Korea Trust)]

A new apartment complex is planned to be built in the Uhyun-dong area of Buk-gu, Pohang-si, Gyeongsangbuk-do in the second half of this year. The project gained momentum after passing the traffic impact assessment review at Pohang City Hall last April, and it is scheduled to be a so-called 'big brand' complex constructed by a well-known construction company.

According to Pohang City, the adjacent road to the complex, 'Achi-ro,' currently has an urban planning project underway (road construction project Da3-27 between Hanshin Gongyeong and Iin-ri). Once the second phase is completed, this road will become a major thoroughfare directly connecting the old downtown and the new city, with the project site located at the center of this road.

This area is expected to share the vision of both Pohang Buk-gu's old downtown and the new city near KTX Pohang Station. Heading east via Achi-ro, it takes about 5 minutes by car to reach Uhyun Intersection, and approximately 10 minutes by car to reach the Buk-gu downtown areas such as Haksan-dong, Yongheung-dong, Daesin-dong, and Changpo District. The area is also home to excellent school districts including Gyeongbuk Science High School, Pohang Middle School, and Pohang Elementary School, as well as established living infrastructures like department stores and Jukdo Market.

To the west of the project site lies the Iin Urban Development District (Heunghae-eup), which is set to become a large-scale new residential town in Pohang, along with other new city developments near the KTX Pohang Station transit-oriented development area. Once this road development is completed, Achi-ro is expected to become a key road rapidly connecting these two living zones. This will also reduce travel time to KTX Pohang Station and Pohang IC to about 5 minutes by car, greatly facilitating access to and from outside the city.

Perhaps due to these future value expectations, apartment sale prices near Achi-ro are also on the rise.

Recent subscription results for nearby Buk-gu old downtown sales sites also raise expectations. According to the Korea Real Estate Agency's subscription homepage, the subscription for 'Hillstate Hwanho Park' Blocks 1 and 2, which opened for applications at the end of last month, attracted a total of 30,015 applicants for 1,946 general units excluding special supply, resulting in an average competition rate of about 15.4 to 1. The highest competition rate was recorded in Block 2's 84㎡A unit, where 8,390 applicants competed for 256 units, approximately 32.7 to 1.

A sales official stated, "The project site is located between Pohang Buk-gu's old downtown and the emerging residential town, making it a place with high future value expectations. Once the adjacent road development is completed, this area is expected to become a 'gateway' rapidly connecting the old downtown and new city living zones, allowing residents to share the future value of both sides."

Meanwhile, the complex is planned to consist of 6 buildings ranging from 3 basement floors to 25 above-ground floors, with a total of 469 apartment units, auxiliary facilities, and neighborhood living facilities. The apartments will offer three diverse floor plans with exclusive areas of ▲74㎡ ▲84㎡ ▲109㎡, broadening the choices for buyers, with the 'national standard' 84㎡ unit planned as the main supply. Notably, this will be the first time a 5Bay design is introduced in Pohang.

Residents are also expected to enjoy a clean eco-premium environment. The complex is surrounded by forest, and right in front is a small waterfront area called 'Achi-ji,' making it convenient for residents to enjoy an 'eco-life' and take leisurely walks.

Another advantage is that the units are located in a non-regulated area. Anyone aged 19 or older who has held a subscription account for more than 6 months and meets the deposit requirements by region and area can apply as a first priority regardless of home ownership or previous winning status, whether as head of household or household member. The LTV (loan-to-value ratio) is also applied up to 70%.