SH, Publicly Supported Private Rental ‘Seed Cube Changdong’ Subscription Starts on 24th

Seed Cube Changdong Bird's-eye View [Provided by Seoul Housing & Communities Corporation]

‘Seed Cube Changdong,’ a publicly supported private rental housing complex located in the Changdong area of Dobong-gu, Seoul, will accept subscription applications from the 24th to the 28th of this month.

Seed Cube Changdong officetels consist of 792 units across floors 7 to 49. Among the 792 units, 200 are designated for special supply and 592 for general supply. Eligibility for the general supply requires applicants to be at least 19 years old, hold South Korean nationality, and be either homeless or a member of a homeless household. The youth special supply adds additional criteria including age limits (between 19 and 39 years old), unmarried status, income (monthly average income below 120% of the previous year’s urban worker average), and residency (residents of Seoul Special City and Uijeongbu City).

The complex is scheduled for occupancy in August this year. Winners will be announced on May 2, with document submission from May 3 to 19. Contract signing begins on May 22.

As a publicly supported private rental housing, Seed Cube Changdong allows tenants to reside for up to 10 years. During the residency period, the maximum annual increase rate for rental deposits and monthly rent is limited to 5%. Tenants are also allowed to apply for subscriptions for other apartments during the residency period.

From basement level 1 to the 5th floor, commercial facilities including F&B outlets, a hospital, large franchise cafes, laundromats, fitness centers, and health & beauty stores will be established. The 6th floor and the top 49th floor, which offers views of Bukhansan and Dobongsan mountains, will feature various community spaces for residents.

The officetel is conveniently located near Changdong Station on subway lines 1 and 4, and Nowon Station on lines 4 and 7. It takes about 35 minutes to reach Seoul’s central business districts (Jung-gu and Jongno-gu), and accessibility is expected to improve further with the future GTX-C (planned) and KTX (planned) lines.

Meanwhile, the Seed Cube Changdong project is a mixed-use development that, in addition to the 792 officetel units being supplied this time, includes office facilities (46,209㎡), commercial facilities (27,739㎡), and a public parking lot (11,387㎡).

A leasing official for Seed Cube Changdong officetel stated, “Even before the subscription application period began, inquiries from housing demanders interested in this complex have been continuous,” adding, “It has received positive evaluations for its location conditions and is competitively priced below the surrounding market despite being newly built.”