Table of Contents
Hillstate Lucents / Announcement of management decision plan approval for the redevelopment project of Zone 3-1
The redevelopment work of Wangja Mansion and Hyundai Apartment located at 1477-1 Banyeo-dong, Haeundae District is actively underway.
There is considerable interest in the project's viability, and it is also gaining attention from real estate investors.
Upon completion of the redevelopment, an increase in regional value is expected.
The redevelopment project of Zone 3-1 in Banyeo-dong, Haeundae District, located at 1477-1, has received approval for the management decision plan. According to Announcement No. 2026-53 of Haeundae District, the approval date is designated as April 22, 2026.
The total area of this project is 40,876㎡, and the executing entity is the Zone 3-1 Redevelopment Project Association. Construction will be carried out by Hyundai Engineering & Construction, and the project is being promoted under the name 'Hillstate Lucents'.
The redevelopment project in Haeundae District is expected to contribute significantly to local development.
This project will consist of a structure from the 3 underground floors to 35 above ground, with 811 units of multi-family housing in 7 buildings and 22 commercial spaces. The provision method will allocate 509 units to landowners, while 302 units will be offered for general sale. Based on exclusive area criteria, the 84 type units are the most included, and considering the demand for mid to large units, 222 units of type 99 are also planned.
| Type | Total Number of Units | Landowners | General Sale |
| Type 59 | 58 | 35 | 23 |
| Type 74 | 66 | 31 | 35 |
| Type 84 | 456 | 278 | 178 |
| Type 99 | 222 | 156 | 66 |
| Type 105 | 1 | 1 | 0 |
| Type 118 | 1 | 1 | 0 |
| Type 131 | 4 | 4 | 0 |
| Type 140 | 3 | 3 | 0 |
| Total | 811 | 509 | 302 |
The approval of the management decision plan is a key stage in the redevelopment process that finalizes rights allocation for members, division targets, burdens, and allocations for new construction. Once this stage is completed, the project can advance to relocation, demolition, and construction.
In this announcement, the expected demolition date for existing buildings has been set for March 2027, but the actual schedule may vary depending on relocation, permit processes, and project progress. Through this process, the successful advancement of the redevelopment project can be achieved.
Zone 3-1 is a project to redevelop the old residential area surrounding Wangja Mansion and Hyundai Apartment. Alongside this, infrastructure facilities such as roads and buffer green areas will also be established. The residential environment in Banyeo-dong, Haeundae will improve, and changes as a backup residential area for Centum area are also expected.
Announcement No. 2026-53 of Haeundae District, Busan
Announcement of management decision plan approval for the redevelopment project of Zone 3-1
In accordance with Article 74 of the Urban and Residential Environment Maintenance Act, the management decision plan approval for the redevelopment project of Zone 3-1 in Banyeo-dong, Haeundae District, Busan, is announced as follows pursuant to Article 78(4) of the same law.
April 29, 2026
Mayor of Haeundae District, Busan
1. Type and name of the maintenance project
a. Type: Redevelopment project
b. Name: Redevelopment project of Zone 3-1
2. Location and area of the maintenance zone
a. Location: Area of 1477-1 Banyeo-dong, Haeundae District, Busan
b. Area: 40,876㎡
3. Name and address of the project executor
a. Name: Chairman Jo Kwon-hyung of the Banyeo 3-1 Redevelopment Project Association
b. Address: 4th Floor, Kyungsung Building, 21 Banyeo-ro, Haeundae District, Busan
4. Date of management decision plan approval: April 22, 2026.
5. Main points of the management decision plan approval
a. Land use plan
| Total Area (㎡) | Land (㎡) subtotal | Land (㎡) for multi-family housing | Land (㎡) for commercial use | Maintenance infrastructure (㎡) subtotal | Maintenance infrastructure (㎡) road | Maintenance infrastructure (㎡) buffer green area |
| 40,876 | 34,336 | 34,126.36 | 209.64 | 6,540 | 3,657 | 2,883 |
b. Size and architectural plans for structures and buildings
| Purpose | Land Area (㎡) | Number of buildings | Number of floors | Number of units | Total Building Area (㎡) |
| Housing | 34,126.36 | 7 | 3 basement floors - 35 above ground | 811 | 160,664.31 |
| Commercial | 209.64 | 1 | 1 floor | 22 rooms | 989.34 |
| Total | 34,336 | 161,653.65 |
c. Scale and allocation plan for sales or reserved properties
Number of units to be supplied by housing size (based on exclusive area)
| Target for Supply | Total | 59.96 | 59.99 | 74.96 | 74.92 | 84.95 | 84.90 | 84.94 | 84.94 | 99.99 | 99.97 | 105.90 | 118.91 | 131.94 | 131.98 | 131.99 | 140.96 | 140.96 | Sales Facility Area (㎡) |
| Total | 811 | 33 | 25 | 33 | 33 | 252 | 55 | 84 | 65 | 132 | 90 | 1 | 1 | 2 | 1 | 1 | 2 | 1 | 989.34 |
| Landowners | 509 | 28 | 7 | 25 | 6 | 252 | 6 | 5 | 15 | 132 | 24 | 1 | 1 | 2 | 1 | 1 | 2 | 1 | 989.34 |
| Reserved Facilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| General Sale | 302 | 5 | 18 | 8 | 27 | - | 49 | 79 | 50 | - | 66 | - | - | - | - | - | - | - |
d. Specifications for new or abolished maintenance infrastructure
| Type of New Construction | Name of New Construction | Scale of New Construction (㎡) | Installation Cost | Management Authority | Type of Abolished Use | Name of Abolished Use | Scale of Abolished Use (㎡) | Public Land (㎡) |
| Road | Road-1 | 1,961 | 13,005,663,500 (Association) | Haeundae District | Forest Land | Banyeo-dong 1403-77 | 51 | 51 |
| Road | Road-2 | 1,687 | 8,616,467,000 (Association) | Haeundae District | Road | Banyeo-dong 1403-79 | 3 | 3 |
| Road | Road-3 | 9 | 48,853,500 (Association) | Haeundae District | Road | Banyeo-dong 1535-41 | 30 | 30 |
| Buffer Green Area | Buffer Green Area | 2,883 | 19,855,616,500 (Association) | Busan City | Road | Banyeo-dong 1405-32 | 1,520 | 1,520 |
| Road | Banyeo-dong 1477-12 | 992 | 992 |
Expected demolition date for existing buildings: March 2027
※ The above demolition schedule may change or delay during project progress and permitting processes.
Category
Announcement
Authority Classification
District
Agency
Haeundae District
Announcement Number
No. 2026-53
Title
Announcement of management decision plan approval for the redevelopment project of Zone 3-1
Date
April 29, 2026
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Frequently Asked Questions (FAQ)
Q. When is the management decision plan approval date for the redevelopment project of Zone 3-1?
The management decision plan approval date for the redevelopment project of Zone 3-1 is April 22, 2026.
The redevelopment project of Zone 3-1 received approval for the management decision plan on April 22, 2026. This date was officially announced through Announcement No. 2026-53 of Haeundae District, Busan. By receiving this approval, the project has completed a critical process to move on to the next stages of relocation, demolition, and commencement of construction.
Q. What is the scale and composition of the Hillstate Lucents project?
Hillstate Lucents is a large-scale redevelopment project consisting of 7 buildings, 811 units, and 22 commercial spaces.
Hillstate Lucents will be constructed from the 3 underground floors to the 35 above ground, comprising a total of 7 multi-family housing buildings with 811 units and 22 commercial spaces. Of these units, 509 will be allocated to landowners, while 302 units will be offered for general sale. In terms of exclusive area, the 84 type units are the most common, and in consideration of demand for mid to large units, 222 units of type 99 are also planned.
Q. What is the significance and importance of the management decision plan approval?
The management decision plan approval is a crucial procedure to finalize the rights allocation for members and prepare for project commencement.
The management decision plan approval is the stage that finalizes the allocation of rights for members, division targets, burdens, and allocations for new construction in a redevelopment project. The project can only proceed to relocation, existing building demolition, and construction once this process is completed. This announcement designates the expected demolition date as March 2027, but it is important to note that the actual schedule may change.
Q. What are the expected effects of the redevelopment project of Zone 3-1 on the local area?
The redevelopment project is expected to improve the residential environment, increase regional value, and change the area into a backup residential zone for Centum area.
The Zone 3-1 project aims to redevelop old residential areas and create new infrastructure such as roads and buffer green areas. Through this, the residential environment in Banyeo-dong, Haeundae will be improved, and the role of this area as a backup residential space for the Centum District is expected to enhance, thereby increasing regional value. This change is evaluated as a crucial opportunity for enhancing the quality of life for residents and for real estate investment.
