- Large-scale new town development... Expectation of various development benefits
- Apartment brand reputation survey 1st place for 38 consecutive months, 'Hillstate' scheduled for supply
The ‘Pyeongtaek Hwayang District’ (hereinafter Hwayang District), boasting the largest scale among privately-led urban development projects, is accelerating its progress.
Hwayang District is a new town being developed over an area of 2,791,195㎡ in Hwayang-ri, Hyeondeok-myeon, Pyeongtaek-si, Gyeonggi Province, comparable in size to Yeouido in Seoul. Last July, Korea Investment & Securities and Meritz Securities were selected as financial lead managers, securing construction funds amounting to 674 billion KRW. The main infrastructure construction officially commenced the following month, intensifying the development efforts.
Once completed, Hwayang District is expected to accommodate approximately 20,000 households and about 54,084 residents. It will feature not only residential facilities but also public institutions and educational facilities, promising excellent living conditions. Additionally, its proximity to industrial complexes within Pyeongtaek Port draws attention as a residential area for industrial workers, which is anticipated to play a significant role in transforming Pyeongtaek City into a representative self-sustaining city in the southern metropolitan area.
Amid growing expectations for various development benefits from this large-scale new town project, the excellent residential environment of Hwayang District is capturing the attention of housing demanders. Among these, Hwayang District offers outstanding transportation conditions, providing convenient access to Seoul and the metropolitan area. The double-track Seohae Line Anjung Station is scheduled to open in 2023, and the Seohae Line?Gyeongbu High-Speed Line (KTX) connection project passing through Anjung Station has been included in the 4th National Railroad Network Construction Plan. The travel time from Pyeongtaek to Seoul, which previously took about 1 hour and 40 minutes, is expected to be drastically reduced to approximately 30 minutes without transfers via KTX.
Moreover, using the abundant road transportation network established in Pyeongtaek City, rapid nationwide travel is possible. The road network connecting east, west, south, and north includes the Gyeongbu Expressway, Seohaean Expressway, Pyeongtaek?Jecheon Expressway, and Pyeongtaek?Hwaseong Expressway, attracting nationwide demand.
Furthermore, diverse living infrastructures such as administration, medical care, and education are being developed. In 2025, the Anjung Branch Office of Pyeongtaek City Hall (scheduled to be upgraded to Seogu Office) will relocate to Hwayang District, and a large general hospital with 350 beds will be established in the same year. As the importance of health and medical care has recently been emphasized, the value of ‘Uisegwon’ locations?areas near large hospitals where residents can receive high-quality medical services?is increasing. Hwayang District is also expected to be a desirable ‘Uisegwon’ location for residents of all ages, with anticipated increases in the value of apartments within the district. Additionally, the construction of multiple schools, including four elementary schools, two middle schools, and two high schools, will create a favorable environment for raising children.
A real estate official in the Pyeongtaek area stated, “Based on the title of the largest privately-led urban development project, Pyeongtaek Hwayang District is attracting significant interest from many real estate demanders as a new town representing the southern metropolitan area.” He added, “Hwayang District has abundant demand and high future value, being recognized not only for its excellent residential conditions such as transportation, education, and medical care but also as a residential area supporting the industrial complexes in Pyeongtaek Port.”
Meanwhile, a large-scale apartment complex is scheduled to be supplied in Hwayang District’s 5BL within this year, and many demanders have already begun inquiries. The ‘Hillstate’ brand, which has ranked first in apartment brand reputation for 38 consecutive months according to the Apartment Brand Reputation Survey by the Corporate Reputation Research Institute, will be applied, comprising a total of 1,571 units sized between 72 and 84㎡.
Located at the entrance of Hwayang District and adjacent to National Route 38 (Seodong-daero), a key gateway to West Pyeongtaek, this large-scale complex is expected to become a landmark representing Hwayang District in the future. A neighborhood park next to the complex offers a pleasant residential environment.
The Hillstate brand apartments also boast notable product qualities. The complex layout is primarily south-facing, providing excellent natural lighting, and 90% of the units are 84㎡, known as the national standard size. Additionally, various community facilities are introduced, enabling residents to engage in exercise and leisure activities without having to go far.
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