SONGDO UPDATE; CCIM SCHMOOZE

Do you know Songdo? No, not a new video game, but the $35 billion, 100M SF international business district in South Korea, which takes much of its inspiration from NYC. Not surprising: Kohn Pedersen Fox’s Jamie Von Klemperer is its master plan architect. We dropped by KPF's West 57th St. office for an update: He says Songdo’s Central Park is now open, and it's feeling like a city for the first time.
While many projects have been delayed, Songdo proceeds apace, Jamie says. Korea has felt the world’s economic pain, but developer Gale International is adamant the master plan not be compromised, and has not strayed from the design. Its $500M Northeast Asia Trade Tower overlooking the park is almost finished, and the international school is complete. Just in time: The Korean economy is picking up again.
The next step is Canal Walk, a kilometer-long groundscraper of retail, office, and residential with a seawater canal as its centerpiece. Jamie describes the design as if “you’re in the middle of a stage set,” and says its scope is comparable to developing a NYC street between Third and Eighth Avenues. They’re aiming to create a residential/street life feel similar to parts of Brooklyn or the Upper East/West Sides, which he says is extremely unusual in Korean development. KPF was also recently awarded two major high-rises for hotel and retail in Seoul, as well as a 100-story tower in Busan.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

Texas Flips Blue, Putting Data Center Boom On Notice

Hynes Vows To Bring Property Tax Stability As New Cook County Assessor

Donalds Makes History With Win For Florida Governor, Voters OK Property Tax Amendment

Supertall Assemblage Comes Together At Long-Vacant Midtown Site: The N.Y. Deal Sheet

Fannie Mae, Freddie Mac Rewrite Underwriting Standards For NYC's Rent Freeze

Banks Are Manhattan's Latest Hot Retail Tenant

The Geo Group To Reopen 2,329-Bed Immigration Facility In Texas

What's At Stake For CRE In Tuesday's U.S. Midterm

RXR Marketing Executive Lauren Maturo Dies At 32

From Pandemic Darling To Cautionary Tale: Pickleball Clubs Face A Reckoning After Betting Big On Retail Space

Weil Gotshal Wind-Down Leaves 830K SF Hole In America's Office Market

Meet Bisnow's 2026 New York Power Women Honorees