HDC Hyundai Development Proposes 'HDC Yongsan Town' at Yongsan Maintenance Depot... Applying Town Management

[Financial News] HDC Hyundai Development proposed the HDC Yongsan Town, linked with its affiliates Hotel HDC and HDC I'Park Mall, at the Yongsan Maintenance Depot Zone 1 in Yongsan-gu, Seoul. The plan is to combine the concept of town management with redevelopment projects to present a new turning point in domestic maintenance projects.
On the 27th, HDC Hyundai Development announced that it plans to directly plan products and establish design strategies to maximize development profits through a developer approach, unlike relying on the client's design focused on securing construction cost margins in Yongsan Maintenance Depot Zone 1. The plan is to leverage the capabilities accumulated from developments like Gwangwoon University Station Area and Yongsan Railroad Hospital Site to enhance not only the asset value of the complex but also the symbolism of the city.
In fact, HDC Hyundai Development proposed the world-class collaboration 'The Line 330' project, including SMDP (architectural design), LERA (structural design), Samsung C&T Resort Division (landscaping), CBRE (non-residential real estate consulting), LPA (landscape lighting), and Park Hyatt (hotel) in Yongsan Zone 1. Through this, they expressed their ambition to realize a landmark beyond Yongsan in Seoul and connect additional profits for members by maximizing sales revenue.
Additionally, by proposing HDC Yongsan Town, they plan to showcase a developer model through direct linkage with group affiliates such as Hotel HDC and HDC I'Park Mall, further enhancing the value of maintenance projects. They differentiated the maintenance project design by considering post-occupancy, providing hotel-style amenities and customized town management services to apartment residents.
Currently, HDC Hyundai Development has secured the development rights for the underground space development project in front of Yongsan Station using the BTO method in Yongsan with the developer model. This is a large-scale project connecting Subway Lines 1 and 4, Shinbundang Line, and GTX-B, and developing the underground of Yongsan Station Front Park as a mixed-use development, with plans to directly operate it for 30 years to realize Yongsan Town Management. The strategy to increase regional value using the floating population of 240,000 daily at HDC I'Park Mall is connected with HDC Yongsan Town and is expected to expand to the International Business District, becoming a key axis to maximize the asset value of the entire Yongsan area.
Furthermore, HDC Hyundai Development is expanding the developer approach to urban maintenance projects with a strategy to establish a landmark line centered on the core of Seoul's urban axis. Notably, the development project at Gwangwoon University Station Area in Nowon-gu, Seoul, went beyond constructing 8 buildings with 3032 households, from 4 basement floors to 49 above-ground floors, and proceeded with mixed-use development projects including Marriott Hotel and I'Park Mall.
Based on such experience, HDC Hyundai Development is once again proposing the success criteria of mixed-use development projects consisting of apartments, officetels, offices, and commercial facilities in Yongsan Maintenance Depot Zone 1. Key elements include apartments and officetels with guaranteed views of the Han River, office and commercial consulting through CBRE, the world's number one real estate consulting firm, and linking office and commercial activation through the attraction of Park Hyatt Hotel.
An HDC Hyundai Development representative stated, "The core of maintenance projects is not only developing complexes but also enhancing quality of life and designing the future of the city," and "HDC Hyundai Development plans to lead a new model of maintenance projects by presenting a paradigm that goes beyond the framework of a construction company to become an urban developer responsible for everything from development to operation."



going@fnnews.com Choi Ga-young Reporter