Daejeon City to Begin Construction of Complex Zone 2 Development Project Near Station Within This Year

Draft Project Plan Prepared with Increased Residential Ratio and Adjusted Facility Areas
Construction to Begin Within the Year Following Second Quarter Redevelopment Promotion Plan Amendment

Daejeon City announced that it will begin construction of the "Complex Zone 2 Development Project," a key initiative within the Daejeon Station Area Redevelopment Promotion District, within this year.

On the 10th, a meeting was held at City Hall with Mayor Lee Jangwoo, Dong-gu District Chief Park Heejo, executives from the project developer Daejeon Station Area PFV Co., Ltd., and other stakeholders in attendance, to ensure the smooth progress of the Complex Zone 2 development.

Complex Zone 2 will be developed as a future-oriented urban complex combining residential, commercial, cultural, and assembly facilities on a 28,369 square meter site in the East Plaza area of Daejeon Station. The project is being carried out by Daejeon Station Area Development PFV Co., Ltd., a consortium of nine companies including Hanwha Construction.

Although the project implementation plan was officially announced in March 2024, the developer requested adjustments from the "Public-Private Joint Construction Investment Project Adjustment Committee" due to deteriorating business conditions such as the real estate market downturn, rising construction costs, and increased PF interest rates.

After review by the adjustment committee, the city prepared a revised project plan reflecting an increased residential ratio, adjusted facility areas, and a restructured public contribution plan.

Based on this revised plan, the city will coordinate with the developer to finalize detailed changes to the project plan, complete the amended redevelopment promotion plan decision within the second quarter of this year, and commence construction within the year.

A Daejeon City official emphasized, "The Complex Zone 2 Development Project is the core of the Daejeon Station Area Redevelopment Promotion District and a representative flagship project that embodies the philosophy of the 8th popularly elected administration. It will serve as a significant opportunity to realize the city’s vision for balanced urban development, establishing a foundation for future growth, and revitalizing the local economy."

This content was produced with the assistance of AI translation services.