Original downtown complexes in major cities across the country are steadily attracting attention. These areas are highly valued for their already established infrastructure, including comprehensive transportation networks and commercial districts, which contribute to expectations for future value growth.
In particular, complexes located near subway stations?known as "station area" complexes?are highly popular among consumers due to their excellent transportation convenience, as well as the concentration of commercial facilities, educational institutions, and leisure spaces, all of which offer outstanding proximity between workplaces and residences.
In contrast, newly developed residential districts or urban development areas often experience delays in establishing initial infrastructure. Residents moving in during the early stages may face inconveniences such as postponed subway openings or insufficient educational and lifestyle amenities. Compared to these areas, original downtown neighborhoods offer well-established public transportation and lifestyle facilities, allowing residents to enjoy a comfortable living environment from the moment they move in. As a result, these areas consistently maintain strong demand in the housing market.
Additionally, new apartment supply in original downtown areas is limited, except through redevelopment or reconstruction projects, which increases their scarcity. This scarcity, combined with the locational competitiveness of these complexes, is expected to drive long-term value appreciation and leads to strong demand in both the sales and rental markets.
In fact, last year, the "Harrington Square Sinheung Station" complex supplied by Hyosung Heavy Industries and Jinheung Construction recorded an average competition rate of 23.7 to 1 in the first-priority subscription, successfully closing all unit types in the first round. Located near Line 8 Sinheung Station, the complex offers convenient access to the local commercial district, including Lotte Cinema. Residents can also easily utilize a variety of lifestyle facilities such as Moran Market, Seongnam Medical Center, Sinheung 3-dong Administrative Welfare Center, Seongho Market, Seongnam Sports Complex, and Emart, as well as northern Wirye New Town and Jamsil infrastructure.
An industry official stated, "Even among station area complexes, the degree of surrounding infrastructure development can significantly affect their value. Complexes with high-quality lifestyle infrastructure and transportation networks are more highly preferred. Furthermore, station area locations are limited, making them highly scarce, and original downtown complexes with such locations are drawing attention for their long-term value appreciation potential."
Against this backdrop, "Harrington Place Pungmu," which offers both station area benefits and fully developed infrastructure, is set to open its model home on July 11, drawing significant interest.
"Harrington Place Pungmu" is located in blocks 1 to 3 of the Pungmu Yangdo District Urban Development Project in Gimpo. The complex will consist of 18 buildings with a total of 1,769 units, ranging from three basement levels to a maximum of 29 above-ground floors. Of these, 1,573 units will be offered for general sale, while 196 units will be supplied as private rentals at a later date. The complex is characterized by its focus on mid-sized units with exclusive areas of 59 to 84 square meters, which are highly preferred by actual homebuyers.
The number of units by block is as follows: 866 units in 1BL, 664 units in 2BL, and 239 units in 3BL. By exclusive area, 1BL includes 189 units of 74 square meters and 481 units of 84 square meters; 2BL includes 219 units of 74 square meters and 445 units of 84 square meters; 3BL includes 80 units of 59 square meters and 159 units of 74 square meters. With a focus on mid-sized layouts, the complex is expected to attract strong interest from end-users. The design also features a south-facing orientation as well as specialized spaces such as pantries, dressing rooms, and multi-purpose rooms to enhance space efficiency.
The location is also noteworthy. The complex is approximately 800 meters from Pungmu Station on the Gimpo Gold Line, and is expected to benefit from the planned extension of Seoul Subway Line 5. The Line 5 Gimpo extension project is currently included in the government’s plans, and if the extension line (Hangang Line, with a preliminary feasibility study announcement scheduled for July) proceeds as planned, a direct network will be established connecting Magok, Yeouido, Gwanghwamun, and Jongno?core business districts in Seoul?without transfers.
The educational environment is also excellent. Within a 500-meter radius of the complex are four elementary schools, including Pungmu Elementary School, as well as nearby Yangdo Elementary, Yuhyeon Elementary, and Sinpung Elementary, providing abundant educational infrastructure. Notably, Pungmu Middle School, known as a prestigious school in the area, is also located nearby, which is expected to increase its appeal among parents. In addition, private education is easily accessible, with Sahu Station and the Incheon Geomdan New Town academy district located within a 10 to 15 minute drive.
The sales schedule begins with special supply applications on July 14, followed by first-priority applications on July 15 and second-priority applications on July 16, all through the Korea Real Estate Board's Cheongyak Home platform. Winners will be announced on July 22 (for blocks 2 and 3) and July 23 (for block 1). Because the winner announcement dates differ by block, applicants may apply for multiple blocks. Contract signing for successful applicants will take place over three days from August 4 to August 6.
The model home is located in the Pungmu-dong area of Gimpo, Gyeonggi Province.
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