Table of Contents
- Development Movements in Myeongnyun-dong
- Potential of Myeongnyun Hillstate Phase 3
- Failure of the Myeongnyun-dong Housing Association and Transition to Private Development
- Key Points of Conditional Approval for Housing Business Review
- Variables in Educational Environment Assessment
- Characteristics of the Business Area and Surrounding Location
- Outlook for the Future Schedule
- Comprehensive Assessment
- Frequently Asked Questions (FAQ)
Development Movements in Myeongnyun-dong
The area around Myeongnyun-dong 26-6 in Dongnae-gu, Busan is emerging as a center for large-scale apartment development.
At the 7th Joint Committee for Housing Projects of Busan Metropolitan City held on October 1, 2025, the construction of 762 apartment units was conditionally approved, revealing concrete outlines for the project.
Expectations are rising for the 'Myeongnyun Hillstate Phase 3' project undertaken by L&W Construction. This is due to the positive impact of the already supplied Hillstate Myeongnyun Phases 1 and 2, as well as the ongoing construction at near locations such as Myeongnyun I-Park Phase 2 and Daegwang Rosebian.
Currently, detailed information regarding the construction company has not been confirmed, and nothing has been finalized yet. For convenience, this project will be referred to as ‘tentative name) Myeongnyun Hillstate Phase 3.’ Future progress in this regard is expected to draw attention.
Potential of Myeongnyun Hillstate Phase 3
The ongoing project is being managed by L&W Construction, which previously executed the Hillstate Myeongnyun Phases 1 and 2. It remains uncertain whether the PF structure based on the joint guarantee from Hyundai Engineering will again be applied in this new construction project.
However, considering the success of past projects, it is highly likely that a Myeongnyun Hillstate brand town will be formed through this third supply project.
Currently, there is no publicly available information regarding the PF structure or the selection of the construction company, making this a crucial monitoring point. It is necessary to observe future progress closely.
Failure of the Myeongnyun-dong Housing Association and Transition to Private Development
The 'Myeongnyun Hyun-en Phase 3 Hill' (tentative name) project proceeded in Myeongnyun-dong faced difficulties due to various issues. Low recruitment of members, wage conflicts among promotional personnel, and gatherings resulted in a significant decrease in the momentum of the project.
Ultimately, in September 2023, a 'Resolution for Business Conclusion' was submitted to the Dongnae District Office, leading to the complete halt of development through the cooperative method. Subsequently, seizure releases and liquidation procedures were carried out until 2024, creating conditions for private developers to participate. This change is expected to positively influence the potential for development in the area going forward.
L&W Construction is now fully engaged in the development of 762 apartment units after completing the association's liquidation.
Considering the overlapping lifestyle areas with the nearby Hillstate Myeongnyun Phases 1 and 2, it is highly likely that this will naturally continue into a 'Phase 3 project.'
As the development has transitioned from a regional housing association model to a completely private project, the speed of progress is also expected to increase significantly.
Key Points of Conditional Approval for Housing Business Review
The Joint Committee for Housing Projects is working on designs for a land area of 28,714㎡. It will consist of 8 buildings from 3 basement floors to 33 above ground, aiming for a total of 762 units. However, various aspects such as urban, traffic, and environmental concerns have raised requests for additional measures.
There are several important considerations for the development of the area adjacent to Dongnae Historical Park. First, the height of the retaining walls must be minimized, and a circulation structure should be established within the complex to facilitate easy movement for pedestrians.
Additionally, it is necessary to block light pollution caused by the facade of the main building. The underground parking lot should improve turning and one-way routes for user convenience.
There are demands for a review of the safety of the reverse L-shaped retaining wall and presentation of its cross-section, alongside essential analyses of wind environment, sunlight, and noise impact. Lastly, the sewage system must reflect the latest standards of 2025.
Conditional approval can be interpreted as meaning that the approval process can continue once these design supplements are completed.
Variables in Educational Environment Assessment
There has been a significant change in the educational environment assessment procedure of the ongoing project. The project site is home to Myeongnyun Natural Kindergarten, raising doubts about the project's feasibility; however, it has recently been confirmed that 'the relocation of Myeongnyun Natural Kindergarten' is being promoted during administrative discussions for the educational environment assessment.
Myeongnyun Natural Kindergarten plans to relocate northeast of Gyodong Elementary School, and administrative discussions related to this seem to be nearly complete. This change has significantly alleviated major concerns regarding safety and sunlight issues in the educational environment. The future progress is highly anticipated.
To clarify the distance relationships with surrounding educational facilities:
Myeongnyun Natural Kindergarten is set to relocate from its current position to the northeastern side of Gyodong Elementary School, with Hae-sol Kindergarten located about 102m away and Donghae Middle School approximately 187m away.
With the confirmation of the kindergarten's relocation, the risks associated with the educational environment have decreased, significantly reducing uncertainties regarding development.
Characteristics of the Business Area and Surrounding Location
The business area for Myeongnyun Hillstate Phase 3 is becoming increasingly defined.
The kindergarten site and Woosong Mansion are highly likely to be included in the development area, while religious facilities are likely not to be included.
However, this is a personal opinion and may not be accurate information.
The site is located near the entrance to Dongnae Historical Park and Myeongnyun Road, as well as around Rosebian Apartments, significantly impacting the region. There are various urban demands for road width expansion, creation of public spaces, improvement of pedestrian environments, and enhancement of park accessibility, reflecting the importance of the location. In future district unit plans, the concretization of these various demands is expected to be a key variable.
Outlook for the Future Schedule
The project related to the educational environment assessment is planned to take place from July 2026 to May 2029.
The anticipated schedule is as follows: From 2025 to 2026, the educational environment assessment will be completed, followed by the establishment of the district unit plan, the approval of the business plan, and the selection of building permits, PF, and construction companies.
In the second half of 2026, construction and sales will commence, and in the second half of 2029, completion and move-in are expected to begin.
However, the sale price and schedule have not yet been finalized and are likely to be adjusted based on the progress of permits.
Comprehensive Assessment
The area around Myeongnyun-dong 26-6 has transitioned from cooperative development to private development after its failure. This place has excellent location conditions close to the Hillstate belt and near public transport and parks. In particular, concerns regarding the educational environment have significantly reduced as the relocation of Myeongnyun Natural Kindergarten has been officially concluded.
The development site includes a kindergarten and Woosong Mansion, while it appears that religious facilities are excluded. However, critical procedures such as design adjustments, formal passage of the educational environment assessment, announcement of the district unit plan, and selection of PF and construction companies still remain, necessitating caution. These steps must be completed for full-scale development to commence.
The housing project located at 26-6 Myeongnyun-dong received management disposal approval in May this year. This is considered the last development site remaining in Myeongnyun-dong alongside the Raemian Mark the Suite and the Myeongnyun District 2 redevelopment project. Such developments are expected to have a significant impact on the local real estate market.
At this point, the project is considered a "large-scale project in the early stages with high feasibility and improved environment." The administrative and financial flows over the next 1-2 years, as well as negotiations regarding construction costs with the contractor, are expected to significantly influence the progress of the project.
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Frequently Asked Questions (FAQ)
Q. Where is the Myeongnyun Hillstate Phase 3 apartment development taking place?
Myeongnyun Hillstate Phase 3 is being developed in the area of 26-6 Myeongnyun-dong, Dongnae-gu, Busan.
The area of 26-6 Myeongnyun-dong, Dongnae-gu, Busan is currently emerging as a center for large-scale apartment development. This area has gained conditional approval for a new apartment project with a scale of 762 units aimed at forming a Myeongnyun Hillstate brand town. Various urban demands such as proximity to Dongnae Historical Park and accessibility to metro stations are reflected alongside the area’s excellent location conditions.
Q. What are the key development details of the Myeongnyun Hillstate Phase 3 apartment construction project?
This project involves the construction of a total of 762 apartment units across 8 buildings from the basement 3rd floor to the 33rd floor.
According to the development plan approved by the Joint Committee for Housing Projects, 8 buildings will be constructed on a land area of 28,714㎡, ranging from the 3rd basement floor to the 33rd floor. The complex is planned to consist of 762 apartments, accompanying various design supplements such as pedestrian circulation structures, light pollution blocking, improvement of turning routes, and safety reviews of retaining walls. The final approval process will proceed after the completion of design supplements.
Q. What is the implementing agency and construction company for the Myeongnyun Hillstate Phase 3 project?
L&W Construction is in charge of the implementation, but the construction company and PF structure have yet to be confirmed.
This development project is led by L&W Construction, which has successfully carried out the previous Hillstate Myeongnyun Phases 1 and 2. However, details concerning the PF (Project Financing) structure, including joint guarantees from Hyundai Engineering, and the final selection of the construction company have not yet been disclosed. This remains a crucial variable in the progress of the project, necessitating ongoing monitoring.
Q. Why did the Myeongnyun-dong regional housing association project fail, and how has the development direction changed afterward?
The project was halted due to poor member recruitment and wage conflicts, and it has since transitioned to private development.
The previously promoted Myeongnyun Hyun-en Phase 3 Hill project faced weakened momentum due to poor recruitment of members, labor conflicts among promotional personnel, and occurrences of protests. In September 2023, a resolution for business closure was submitted to the Dongnae District Office, leading to a complete halt of cooperative development, and by 2024, the seizure releases and liquidation procedures were completed. Following this, conditions were established for private developers to participate, leading L&W Construction to transition into private business and actively develop the project.
Q. What significance does the relocation of Myeongnyun Natural Kindergarten hold in the educational environment assessment?
The confirmation of Myeongnyun Natural Kindergarten's relocation has significantly reduced educational environment burdens and uncertainties surrounding the development.
Currently, Myeongnyun Natural Kindergarten is located within the project site, influencing the educational environment assessment significantly; however, it has been confirmed that administrative discussions for relocating it northeast of Gyodong Elementary School are almost complete. This change has reduced burdens related to safety and daylight issues in the educational environment, positively influencing the progress of educational environment assessment procedures. This is a significant advancement in the future progress of the project, greatly contributing to the alleviation of uncertainties surrounding development.
Q. What is the future schedule for the construction of Myeongnyun Hillstate Phase 3 apartments?
Completion of the educational environment assessment, commencement, sales, completion, and move-in are scheduled between 2025 and 2029.
From 2025 to 2026, the educational environment assessment will be completed, and the district unit plan will be established, followed by approval of the business plan and obtaining building permits, as well as selecting PF and construction companies. Construction and sales will commence in the second half of 2026, and completion and move-in are expected to start in the second half of 2029. However, the sale price and specific timeline may fluctuate depending on permit progresses and market conditions.
