Incheon Urban Corporation Applies for Approval of "Public Housing Complex Project on the South Side of Gulpocheon Station"

3,000 Public Housing Units to Be Supplied
Groundbreaking in 2029, Move-In Scheduled for 2033

Incheon Urban Corporation (iH) announced on May 29 that it has submitted an application to Incheon City for approval of the project plan for the "Public Housing Complex Project on the South Side of Gulpocheon Station."

This project is being promoted as part of the government’s “3080+ Housing Supply Plan” for urban public housing complexes. Led by the public sector, its core objectives are to ensure the stability and speed of project execution, to redevelop aging residential areas, and to strengthen the foundation for housing supply within city centers.

Through this project, iH plans to develop a site of 86,000 square meters in Bupyeong-dong, Bupyeong-gu, constructing 14 apartment buildings (3,019 units) with four basement levels and 49 above-ground floors, along with neighborhood living facilities and public amenities.

iH plans to establish a pedestrian network directly connecting the project site to Gulpocheon Station on Seoul Subway Line 7, while organically linking pedestrian paths with commercial and community spaces. The project will also include the creation of community facilities within the complex, such as a multipurpose gymnasium and resident lounges, and will feature a sky lounge on the 49th floor offering panoramic views of the Bupyeong area.

Aerial View of Gulpocheon Station South Side Urban Public Housing Complex Project. Provided by Incheon Urban Corporation

iH aims to secure approval for the complex project plan in the first half of next year. This month, the corporation will announce the compensation plan and select an appraiser, and in the future, it plans to establish a project REIT to pursue the development as a joint venture.

After completing procedures such as negotiated compensation and demolition work, iH targets a groundbreaking in the first half of 2029, with completion and occupancy scheduled for the second half of 2033.

An iH official stated, "This is a large-scale, transit-oriented mixed-use development project driven by the public sector’s expertise and stability. We will do our utmost to ensure high-quality housing supply, revitalization of the old downtown area, and the expansion of essential infrastructure for daily life as the project moves forward."

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