A large scale of a Hillstate town will be built in Hwajeong-dong, Gwangju Metropolitan City.
A groundbreaking ceremony for Gwangju Universiade Hillstate was held at the site of a former KNHC (Korea National Housing Corporation) apartment complex located in Hwajeong-dong, Seogu, on September 19. The ceremony was attended by about 1,500 key officials and participants including Hyundai E&C Metropolitan City mayor Kang Un-tae and president of the city assembly Cho Ho-kwon.
The Gwangju Universiade Hillstate, the world’s first athletes’ village to be redeveloped for residential use, consists of a large complex and features an attractive living infrastructure, which led to drawing huge attention from the local community and the real estate market. About 10,000 customers visited the model house on September 8, the first day of its opening, and around 25,000 during the weekend.
Competition for subscription of the apartment once stood at 12.54 to 1 during September 13 and 14 and the subscription was closed, marking a high competition rate of 2.56 to 1.