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First Phase of Songdo Urban Center Is Now Completed

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A new urban center is rapidly taking shape in Incheon, a port city 30 miles west of Seoul. Work is under way on 100 buildings across 1,500 acres reclaimed from the sea. The so-called First World apartment complex is currently home to Songdo’s first 7,800 residents. The development’s population is expected to reach 65,000 upon completion in 2014. A convention center, hotel, international school and 100-acre central park have been completed. The construction workforce currently numbers 15,000 and is expected to peak in late 2010 at 25,000. The developer is New Songdo International City Development LLC, a 70/30 partnership of New York—headquartered Gale International as the majority partner, and POSCO Engineering and Construction Co., a unit of Korea’s largest steel producer. The master plan was developed by New York based Kohn Pedersen Fox Associates. Incheon Bridge, with both cable-stayed and cantilever sections and viaducts totaling 7.6 miles, will connect Songdo to Incheon International Airport when it opens in October. Songdo’s expected price tag is $35 billion.

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