Table of Contents
Establishment (Change) Approval of the Urban Housing Maintenance Project for Deokcheon-dong 347-3 Area and Terrain Plan Notification
- Status of the Buk-gu Deokcheon Kyungin Mansion Urban Housing Redevelopment Reconstruction
The urban housing maintenance project currently underway in Deokcheon-dong, Buk-gu, has advanced further with the approval for the establishment (change) of the association. On January 7, 2026, Buk-gu announced the approval and notification related to the establishment (change) of the association and the terrain plan.
The recently approved project site is located in the area of Deokcheon-dong 347-3, covering an area of 5,613.8㎡. The start and completion dates for the project are still undecided, but with the completion of the establishment (change) approval including the amendment of the association's regulations, the administrative foundation for active project progress has been set. We look forward to the future progress.
This project has garnered significant interest for a long time. Recently, in August 2023, it was reported in the media that Our Asset Trust won the bid for the urban housing maintenance project in the area, attracting considerable attention.
According to the initial plan, the area is expected to include an apartment building with 20 floors above ground and two basement levels, along with two neighborhood commercial facilities, with a total of 150 units to be supplied.
Of these, 100 units will be designated for members while the remaining 50 units are planned to be offered through general sale. This structure is expected to have a positive impact on local development.
The area has excellent location conditions. Deokcheon Station is a transfer station for Busan Metro Lines 2 and 3, and is located within a 5-minute walk of the station. Additionally, various facilities such as New Core Outlet, Deokcheon Youth Street, Administrative Welfare Center, Cultural Arts Center, and elementary and middle schools are nearby.
Furthermore, access to the Namhae Expressway's Deokcheon IC is good, and the ongoing development project of the Manduk-Centum underground expressway is expected to improve the regional transportation. These factors combined make it a location with high potential for further development.
Our Asset Trust mentioned in a press release the possibility of creating a residential complex of around 300 units, including subsequent projects in the vicinity. With the approval for the establishment (change) of the association, attention is focused on whether the maintenance of the aging residential areas in Deokcheon-dong and the supply of small-scale housing in transit-oriented developments can progress.
Notification No. 2026-1 of Buk-gu, Busan
Urban Housing Maintenance Project for Deokcheon-dong 347-3 Area
Establishment (Change) Approval and Terrain Plan Notification
In accordance with Article 23(5) of the Special Act on Maintenance of Vacant Houses and Small-scale Housing, the establishment (change) approval for the urban housing maintenance project in the area of Deokcheon-dong 347-3 in Buk-gu, Busan has been granted. This is announced under Article 23(9) of the same law and Article 21-2 of the enforcement ordinance.
January 7, 2026
Mayor of Busan, Head of Buk-gu Office
1. Type and Name of Project
a. Type: Urban housing maintenance project
b. Name: Urban housing maintenance project for Deokcheon-dong 347-3 area
2. Location and Area of Project Execution Zone
a. Location: Deokcheon-dong 347-3 area, Buk-gu, Busan
b. Area: 5,613.8㎡
3. Expected Start and Completion Dates of the Project: Undecided
a. Expected start date: Undecided
b. Expected completion date: Undecided
4. Name of Association and Office Location
a. Association Name: Urban Housing Maintenance Project Association for Deokcheon-dong 347-3 Area
b. Office Location: 8th floor, 33 Manduk-daero, Buk-gu, Busan
5. Changes: Amendment of Association Regulations
Classification
Notification
Institution Classification
District
Institution
Buk-gu
Notification Number
No. 2026-1
Title
Establishment (Change) Approval and Terrain Plan Notification of Urban Housing Maintenance Project for Deokcheon-dong 347-3 Area
Date
2026-01-07
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Frequently Asked Questions (FAQ)
Q. When was the establishment (change) approval for the Urban Housing Maintenance Project for Deokcheon-dong 347-3 area issued?
The establishment (change) approval for the Urban Housing Maintenance Project for Deokcheon-dong 347-3 area was issued on January 7, 2026.
On January 7, 2026, Buk-gu, Busan announced the establishment (change) approval and terrain plan notification for the urban housing maintenance project in the area of Deokcheon-dong 347-3. This has laid the administrative foundation necessary for the project to proceed actively. The approval was granted in accordance with Article 23 of the Special Act on Maintenance of Vacant Houses and Small-scale Housing, and includes changes to the association's regulations.
Q. What is the scope and scale of the Deokcheon-dong Urban Housing Maintenance Project?
The project area is approximately 5,613.8㎡ in Deokcheon-dong 347-3, Buk-gu, Busan.
The project is targeted at the area of Deokcheon-dong 347-3 in Buk-gu, Busan, with a total area of about 5,613.8㎡. Plans include apartments with 20 floors above ground and two neighborhood commercial facilities. A total of 150 units are expected to be supplied, with 100 units being for members and 50 units for general sale. The start and completion dates for the project are still undecided but there is significant potential for development.
Q. Where is the office of the Deokcheon-dong Urban Housing Maintenance Project Association located?
The association's office is located on the 8th floor of 33 Manduk-daero, Buk-gu, Busan.
The office of the Urban Housing Maintenance Project Association for Deokcheon-dong 347-3 area is known to be located on the 8th floor of 33 Manduk-daero, Buk-gu, Busan. Operations and project-related tasks are conducted here, and official discussions regarding the establishment and operation of the association are taking place.
Q. What is the transportation and convenience facility environment around the Deokcheon-dong Urban Housing Maintenance Project?
It is located near Deokcheon Station, a transfer station, with excellent access to various convenience facilities and the regional transport network.
The project site is located within a 5-minute walking distance from Deokcheon Station (a transfer station for Busan Metro Lines 2 and 3). Nearby, there are various convenience facilities such as New Core Outlet, Deokcheon Youth Street, Administrative Welfare Center, Cultural Arts Center, and elementary and middle schools. Additionally, with good access to the Namhae Expressway's Deokcheon IC and the ongoing development project of the Manduk-Centum underground expressway, there is great potential for regional development.
Q. What is the future schedule for the Urban Housing Maintenance Project?
The expected start and completion dates for the project have not yet been determined.
While the establishment (change) approval has been completed, the expected start and completion dates for the Urban Housing Maintenance Project have not yet been finalized. However, with the completion of the establishment and associated amendments to the regulations, an administrative foundation has been laid, and it is anticipated that a detailed project schedule will be clarified and announced soon. The interest from local communities and investors continues.
