This project is my idea, how your apartament should be renovated.
I tried not to move as many walls as i could and i left all structural element's on their place.
I think the open spaces should be applied in the livingroom and in the master bedroom. The living room, dinning room and kitchen are joined to an open-space area. In this way the living area will look bigger, the kichens furniture more modern and in direct view from the living & dining room. I added a countertop in the kichen between the column and the furniture. But most important all this 3 spaces linked will get direct natural light.
The walk in closet in the master bedroom can have free visual from the bedroom's door. So the space will look bigger and it can get natural lightening from the bedroom's window.
If i had more time, i would even suggest the furniture and make some visual 3d models, but i saw your competition 2 days ago.
Rather if i win or not please consider my solution of your ap.renovation because it'll be a very comfortable living apartament. Sometimes, in architecture, there are designs that look fabulous and so they are if you want to only see them. But if you live inthere, it won't be easy in everyday life, especially when you have kids. Their comfort and your usable space are the most important. The real change will be seen in the contemporary finish you'll choose at the end of renovation.
Best regards, arc 22!