Vista Dongwon Phase 3 expected to go on sale in May, housing construction project approval announcement
- Located in the vicinity of 314-1 Buam-dong, Busanjin-gu
The construction project for Vista Dongwon Phase 3 apartments in Buam-dong, Busanjin-gu is set to proceed in earnest. This project is spearheaded by Dongwon Development Co., Ltd. and will take place at 314-1 Buam-dong, Busanjin-gu.
The site area is 14,086㎡, with a building coverage ratio of 21.0% and a floor area ratio of 249.8%. The building is planned to be constructed as a reinforced concrete structure, with 3 blocks from 2 basement levels to 27 floors above ground. The total floor area of the project will be 52,495.1542㎡, including 323 apartment units along with subsidiary welfare facilities and neighborhood living facilities.
This new construction project is expected to provide residents with various housing and living conveniences. Future progress will be closely monitored.
This project, located near Busan Citizen Park and the Seomyeon central business district, is expected to attract significant interest from actual users due to its high residential convenience. The housing types will include 84㎡A (101 units), 84㎡B (48 units), 74㎡A (96 units), 74㎡B (47 units), and 59㎡ (31 units), reflecting a diverse demand through various floor plans.
On April 24, 2024 (Friday), the joint housing project committee held its fourth meeting and conditionally approved this project. During the review process, aspects such as pedestrian mobility convenience, natural pedestrian environment creation, façade design of neighborhood living facilities, and securing emergency vehicle access were thoroughly examined. Additionally, parking and safety measures for school buses and secondary roads were carefully checked, ensuring a stable residential environment in the future.
Results of the fourth housing business committee review in 2024 can be found in the post linked below.
Construction for Vista Dongwon Phase 3 is scheduled to commence on May 1, 2025, aiming for completion by November 30, 2028. However, due to recently increased sale prices, forecasts for successful sales are not optimistic.
In this regard, the nearby project, Vista Dongwon Artfore Phase 2, recorded complete sales at the time of sale but is currently experiencing difficulties with a negative premium of 10 to 20 million KRW. This situation is expected to have a negative impact on the future sales market.
Busan Metropolitan City Busanjin-gu Notice No. 2025-32
Notice of Approval of Housing Construction Project Plan
In regard to the application for the housing construction project plan approval for the site located at 314-1 Buam-dong, Busanjin-gu, Busan Metropolitan City, following Article 15, Paragraph 1 of the Housing Act, the housing construction project plan is approved, and pursuant to Article 15, Paragraph 6 of the same law, the following is announced:
On February 14, 2025
Busanjin-gu Mayor
1. Project Name: Construction of Joint Apartment Complex in Buam-dong Phase 3, Busanjin-gu
2. Project Entity
a. Name: Dongwon Development Co., Ltd., Representatives Jang Bok-man and Lee Seong-hwi
b. Address: 9th Floor, Shopping Mall, 754 Suyeong-ro, Suyeong-gu, Busan Metropolitan City
3. Project Location and Scale
a. Location: 314-1 Buam-dong, Busanjin-gu, Busan Metropolitan City
b. Site Area: 14,086㎡
c. Building Area: 2,984.7069㎡
d. Total Floor Area: 52,455.2045㎡
e. Scale: 2 basement floors / 27 above ground floors, 3 blocks
f. Purpose: Joint residential (322 apartment units), subsidiary welfare facilities, neighborhood living facilities
4. Project Implementation Period: May 1, 2025 ~ November 30, 2028
5. Matters on which approval or notification under other laws is deemed to be made
a. Building permit pursuant to Article 11 of the Building Act
Category
Announcement
District Category
Gu/County
Institution
Busanjin-gu
Announcement No.
No. 2025-32
Title
Notice of Approval of Housing Construction Project Plan
Date
February 19, 2025
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