- Rising Future Value Centered Around Yangjae Station on Gangnam-daero... Surge in Inquiries for Beneficiary Complex 'Seocho Renid'
Recently, Gangnam-daero has emerged as a representative affluent area in the Gangnam district. Particularly, the area around Yangjae Station, known as the "prime land" of Gangnam-daero, is rapidly increasing in future value as various developments, including the GTX-C Line project, are concentrated there.
Recently, the Seoul Metropolitan Government announced that it will conduct a master plan study to prepare a complex development plan for major facilities such as the 'GTX Transfer Center' around Yangjae Station. The goal is to make the area a hub for research and development (R&D), business, and commerce. The district will see the establishment of facilities such as the Seocho-gu complex government building and the metropolitan railway (GTX) transfer center.
The GTX-C Line project at Yangjae Station is currently underway. This project will transform the station into a large-scale complex transfer center where the GTX, Line 3, the Shinbundang Line, and about 100 bus routes intersect. Additionally, with ongoing transportation network improvements such as the undergrounding of the Gyeongbu Expressway and the extension of the Shinbundang Line from Sinsa to Yongsan, a breakthrough in infrastructure expansion is expected, alleviating chronic traffic congestion and enhancing cultural, lifestyle, and residential amenities.
Moreover, the Seocho Town complex development project is also planned. This project will develop a 34-story above-ground and 6-story underground building on the current Seocho-gu office site, combining various resident convenience facilities, living infrastructure, and public offices. It passed the preliminary feasibility study by the Ministry of Economy and Finance in 2020, with a consignment contract scheduled for December 2023. Completion and occupancy are planned for 2029.
In addition, in early February, the Goyang-Yangjae deep underground expressway project connecting the undergrounds of Goyang in Gyeonggi Province and Yangjae in Seoul passed the private feasibility study conducted by the Korea Development Institute (KDI). Currently, the travel time on the section from Jayuro (Janghang IC) to Gangbyeonbuk-ro to Yangjae IC takes about 60 to 90 minutes during the day and about 2 hours during rainy weather and rush hours due to habitual congestion. However, after the project's completion, the travel time is expected to be drastically reduced from 86 minutes to 39 minutes.
Furthermore, according to data released by the Ministry of Land, Infrastructure and Transport in February, five 'urban advanced logistics complexes' will be established nationwide, including Yangjae-dong, by 2030 to create urban logistics hubs. This project will develop state-of-the-art distribution and logistics facilities underground on approximately 95,000 square meters of the former cargo terminal site in Yangjae-dong. Above ground, a complex space will be created centered around an anchor plaza, integrating office facilities, R&D (research and development) facilities, convention centers, performance halls, department stores, hotels, and residential areas.
A real estate official stated, "The Yangjae-dong area, which is prime land in Gangnam, has recently attracted attention due to successive development news," adding, "Since there is no other area in Gangnam undergoing such extensive development, it is expected to establish itself as a representative affluent area of Gangnam upon completion."
As such, while the area around Yangjae Station on Gangnam-daero is set to become a center for future transportation and industries, 'Seocho Renid,' located in the immediate vicinity of Yangjae Station, is attracting attention as a representative beneficiary complex.
First, Seocho Renid benefits directly from the surrounding developments due to its prime location near Yangjae Station. The complex is situated right in front of Yangjae Station, where Line 3, the Shinbundang Line, and the future GTX-C Line pass. It also offers convenient access to business districts and the Gangnam area via Gangnam-daero and Nambu Sunhwan-ro, and easy travel throughout the metropolitan area via Seocho IC and Yangjae IC on the Gyeongbu Expressway, as well as Naegok IC on the Bundang-Naegok Expressway.
Additionally, it is close to cultural facilities such as Seocho-gu Office, Seoul Family Court, the Seoul Arts Center, and KEPCO Art Center, as well as large retail stores like Shinsegae Department Store, E-Mart, and Lotte Mart. The educational environment is excellent, with schools including Daechi Middle School, Yangjae High School, Eunkwang Girls' High School, Chung-Ang University High School, National Gugak High School, and Eonnam High School nearby.
Its greatest strength is its unique location surrounded by mountains, parks, and streams in the heart of Gangnam. Maljukgeori Park, Yangjaecheon Stream, Yangjae Citizen's Forest, as well as Maebongsan and Umyeonsan Mountains are within walking distance, offering a green healing life premium with morning jogging and walking opportunities.
Moreover, as the project is constructed by Lotte Construction, a leading builder of high-end residential facilities, it boasts differentiated product competitiveness. Rectangular terraces are applied throughout the unit types, providing excellent views and terrace living. Each unit features two-sided openings and a 3-Bay layout to maximize openness, lighting, and ventilation. The open dining kitchen and bar areas allow for cooking, work, meetings, parties, and hobbies. Seocho Renid also offers unique amenities such as an indoor basketball court and indoor track, while maintaining a reasonable sale price compared to existing high-end products of similar size.
Meanwhile, Seocho Renid is being developed in Seoul's Seocho-gu area with a total of 156 units ranging from 42㎡ to 130㎡, in buildings from 8 basement floors to 20 above-ground floors. The promotional center is currently operating, and visits are by prior reservation only. Occupancy is scheduled for January 2025.
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