Long-Term Jeonse Housing Project Near Kwangwoon University Station Gets Underway... 28 Floors and 263 Units Planned

[Financial News] The area around 383-40 Wolgye-dong, Nowon District, Seoul, will be transformed into a mixed-use residential complex with up to 28 floors and 263 housing units.
According to Nowon District on the 16th, the long-term jeonse housing project near Kwangwoon University Station passed a review by the Seoul Metropolitan Government’s Architectural Committee on the 8th.
The project was launched based on a resolution by the owners of Seongbuk Mansion, which was completed more than 30 years ago, to pursue reconstruction. The district has supported a preliminary review of the building plan, consultations with relevant agencies, and the implementation of supplementary measures requested during the review process.
Under the approved plan, the site will feature apartments and neighborhood commercial facilities with six basement levels and 28 above-ground floors, covering a total floor area of 44,905.66 square meters. The apartments will comprise 263 units in total: 75 public rental units and 188 units for sale.
The site is close to Kwangwoon University Station, served by Subway Line 1 and the GTX-C Line, as well as the Dongbu Expressway. Kwangwoon University and the Wolgye 1-dong Community Service Center are nearby. Within a 1.5-kilometer radius are green spaces and leisure facilities, including Yeongchuksan Healing Town, Choansan Hydrangea Hill, and Gyeongchun Line Forest Park.
The building plan reflects these locational advantages. The arrangement of the main buildings will secure view corridors and enhance the sense of openness. Neighborhood commercial facilities will be placed along the arterial road and linked with existing businesses to help revitalize the streetscape.
Nowon District expects the project, together with development around Kwangwoon University Station, to improve the residential environment and urban functions of Wolgye-dong. Large-scale development projects are also underway nearby, including the relocation of the IPARK Hyundai Development Company headquarters, the construction of Hyundai I'PARK Mall, and the development of housing for young adults near the station.
The project operator plans to apply for a building permit in the second half of this year after incorporating the results of the architectural review. Construction is targeted to begin in March 2028, with completion scheduled for March 2030.
Seo Jun-oh, mayor of Nowon District, said, "We will actively coordinate with relevant agencies and continue providing administrative support so that follow-up procedures, including the building permit, can proceed smoothly." He added, "We hope this project will improve the aging residential area, provide public rental housing, and harmonize with the changes taking place around Kwangwoon University Station."

[email protected] Choi A-young Reporter