1,066-unit Sujain brand town

Public housing with price ceiling on new apartments

A rendering of Miryang Sujain the First Complexes 1 and 2. [BS Hanyang]
A rendering of Miryang Sujain the First Complexes 1 and 2. [BS Hanyang]

BS Hanyang announced Thursday that it will open the show home for Miryang Sujain the First Complexes 1 and 2 — to be built in Blocks A-1 and S-2 of the Miryang Bubuk public housing district in Miryang, South Gyeongsang Province — on Friday, launching its full pre-sale schedule.

The development, the first private-participation public housing project in Miryang, will form a large-scale brand town spanning two blocks with a combined 1,066 units. Complex 1 (Block A-1) will rise up to 20 above-ground floors over two basement levels and contain 744 units in total. Of those, 426 units are designated for general pre-sale under the New Home "standard" category, comprising 169 units of 55-square-meter Type A, 100 units of 59-square-meter Type A and 157 units of 59-square-meter Type B — a lineup skewed toward smaller unit types expected to draw strong interest from newlyweds and one- to two-person households.

Complex 2 (Block S-2) will have one basement level and up to 20 above-ground floors, with 322 units in total. General pre-sale (New Home "standard") covers 114 units — 24 units of 74-square-meter Type A and 90 units of 84-square-meter Type A — centered on mid-small unit types aimed at three- to four-person households. Some units will offer views of the Miryang River.

The complexes' biggest selling point is their competitive pricing under the price ceiling on new apartments, which keeps costs well below recently surging pre-sale prices. Units with a 55-square-meter exclusive use area are priced in the mid-200 million won (about $130,000) range, while 59-square-meter units fall in the mid-to-upper 200 million won range. Units of 74 square meters are set in the low 300 million won range, and 84-square-meter units in the mid-to-upper 300 million won range, significantly easing the financial burden on end-user buyers.

As the first Sujain-brand apartment complex to be offered in Miryang, the development also stands out for its location and product quality. The site is adjacent to the Miryang Nano Convergence National Industrial Complex, an advanced industrial hub focused on nano, hydrogen and advanced materials that was designated last year as a "future advanced materials and components opportunity development zone."

The location offers easy access to the city and surrounding areas via Sapo-ro, Miribeollo and Miryang-daero, with convenient entry to the Jungbu Expressway and the Hamyang-Ulsan Expressway via the Nam-Miryang interchange. KTX Miryang Station is about a 10-minute drive away.

In addition, Sapo Elementary School sits to the east of Complex 1, making it a so-called "school-within-complex" development. Residents will also have easy access to established urban amenities including Arirang Market, the Sammun-dong commercial district, Miryang City Library and Sammun-dong Public Stadium.

The apartment subscription schedule opens with special supply on Sunday, June 29, followed by first-priority applications on Monday and second-priority on Tuesday. Winner announcements are staggered — Complex 1 on July 7 and Complex 2 on July 8 — allowing applicants to subscribe to both complexes. Contract signings will be held at the show home over three days from Aug. 18 to 20.

"Inquiries from end-user buyers are already coming in, drawn by the growth potential of the Miryang Bubuk public housing district combined with the appeal of the price ceiling," a BS Hanyang official said. "We will present specialized design and landscaping befitting the significance of Miryang's first Sujain brand town, and lead the way in local residential trends."

Meanwhile, BS Hanyang has supplied apartments in Gimpo and Pyeongtaek in Gyeonggi Province this year. Following Gimpo Pungmu transit-oriented area Gracent Phase 2, the company teamed up with Jeil Construction to launch Godeok International New Town Sujain Punggyeongchae Complexes 1 and 2.


hwshin@heraldcorp.com