The move-in process for Hutton Public Apartments in Hyeondong, Changwon, Gyeongnam, which had been delayed multiple times due to the construction company's application for corporate rehabilitation and subsequent construction suspension, is finally set to begin.
On July 1, Gyeongnam Development Corporation, which had promised to start move-ins in July of this year at the end of last year, announced at a briefing held at the Gyeongnam Provincial Government Press Center that "both construction completion and occupancy approval were finalized in June, and we will officially begin move-ins as promised starting at the end of July."
The corporation added, "Remedial work on defects identified during the pre-move-in inspection is in its final stages, and we will thoroughly complete all maintenance before move-in so that residents can move in without concerns."
Aerial view of Hutton Apartments, Hyundong, Changwon, Gyeongnam. Provided by Gyeongnam Development Corporation.
Starting with the supply notice issued on this day, the corporation plans to announce and offer the remaining units for sale. The remaining units consist of 278 for sale and 669 for rent, totaling 947 units.
The public sale price is set at 8.39 million KRW per 3.3 square meters, reflecting prices from four years ago, and both a middle door and balcony extension will be provided free of charge.
For public rental units, the monthly rent will be temporarily reduced for two years. In line with the "1,000 KRW per day housing" concept, the monthly rent will be set at around 30,000 KRW if the maximum deposit is paid.
Additionally, the same finishing materials as the public sale units will be used, and tenants will have the option to convert to ownership after 10 years.
The corporation plans to proceed with public sale and public rental contracts on a first-come, first-served basis, allowing buyers to select specific buildings and units starting from July 8.
However, those who visit earlier will be given the opportunity to choose units with better views.
Furthermore, a model unit has been set up at the sales site for prospective residents to inspect, and a promotional center will be operated at all times to facilitate consultations.
Kim Kwonsoo, president of Gyeongnam Development Corporation, is announcing the move-in schedule for Hutton Apartments in Hyeondong, Changwon. Photo by Lee Seryung
President Kim Kwonsoo stated, "We sincerely apologize for the repeated delays in move-in and express our heartfelt gratitude to the contract holders who have trusted and waited for our development corporation for such a long time."
He added, "Our development corporation will continue to prioritize housing stability for the residents of the province and will strive to supply public housing with even greater responsibility. We hope that Hutton in Hyeondong, Changwon, will become a warm home for a new beginning for the residents."
Location map of Hutton Apartment in Hyeondong, Changwon. Provided by Gyeongnam Development Corporation.
Hutton Apartments in Hyeondong, Changwon, is a public housing complex built by Gyeongnam Development Corporation, a public enterprise under Gyeongnam Province, located in Hyeondong, Masanhappo-gu, Changwon. It consists of 350 public sale units and 809 public rental units, totaling 1,159 units.
The initial move-in date was scheduled for February last year, but due to issues such as material supply shortages, it was postponed once to May and then again to August.
However, on June 11, just over a month before the scheduled completion date of July 24 last year, with construction progress at about 92%, the main contractor, Namyang Construction, filed for court receivership with the Gwangju District Court, resulting in a halt to construction.
In response, the project developer, Gyeongnam Development Corporation, recruited a new contractor through the Construction Guarantee Cooperative. After two failed bids, Daeji Construction was selected, and a contract was signed with the guarantor construction company, allowing the remaining work to resume at the end of last year.
While aiming for completion in May and move-in starting in July of this year, final touch-ups and finishing work were underway. During the pre-move-in inspection held over two days, April 19-20, defects such as missing bidets in master bathrooms and uninstalled food dehydrators were discovered, leading to repairs in all units.
During this process, 238 out of 310 sale contracts and 243 out of 383 rental contracts were canceled, leaving 72 sale units and 140 rental units, for a total of 212 contracts still in effect.
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