Expectations for Normalization of Construction at Cheonan Sinbu and Ssangyong Happy Housing

Selected Contractor for Sinbu Happy Housing to Start Construction in July
Ssangyong Happy Housing Contractor Selection in Second Half, Construction Begins in December

Perspective view of Cheonan Sinbu Happy Housing.

The construction projects for Cheonan Sinbu and Ssangyong Happy Housing in Chungnam, which were halted in 2021, are set to resume.

According to the city on the 28th, the Cheonan Sinbu Happy Housing project involves building 587 units on a 14,727.3㎡ site of the former courthouse in Sinbu-dong, with a structure ranging from 2 basement floors to 20 above-ground floors. A private developer was responsible for construction and began work in February 2021. However, after difficulties in negotiations with the contractor regarding changes to the project plan, including the installation of a public parking lot, construction was suspended in September. As the suspension period prolonged, the contractor eventually abandoned the project in April last year.

Korea Land and Housing Corporation applied to the Ministry of Land, Infrastructure and Transport for approval to change the housing construction plan, including changes in the number of units and expansion of unit sizes. Last month, the contractor selection was completed, and construction is planned to commence in July.

Perspective view of Cheonan Ssangyong Generation Harmony Happy Housing.

The Cheonan Ssangyong Segye Gonggam Happy Housing construction project, which had been delayed due to additional cost-sharing issues, is also expected to proceed normally in the second half of this year.

This project, constructing 100 units on a 2,971.1㎡ site at 1178 Ssangyong-dong, with a building from 3 basement floors to 13 above-ground floors, received housing construction plan approval in July last year. However, delays occurred as Korea Land and Housing Corporation requested additional cost-sharing from Cheonan City.

The Ministry of Economy and Finance designated Korea Land and Housing Corporation as a financial risk institution, demanding debt reduction, and the Board of Audit and Inspection pointed out issues such as failure to meet project initiation criteria and lack of demand verification, causing difficulties over the additional cost-sharing.

In response, the city recently held a meeting with Korea Land and Housing Corporation regarding the project’s resumption and decided to select a contractor within the second half of the year and begin construction in December.

A city official stated, “With the resumption of the Cheonan Sinbu and Cheonan Ssangyong Segye Gonggam Happy Housing construction projects, we expect the housing stability and quality of life for Cheonan citizens to improve.”