People Flock to Commercial Facilities Embracing Parks: Hill's Avenue Jigeum Dipore, a Commercial Area Near Public Transportation, Draws Attention

Recently, commercial properties located within walking distance of parks, known as "Gongse-gwon" shopping areas, have gained high popularity among investors. This is because the abundant foot traffic allows for the establishment of a stable commercial district regardless of the day of the week. In particular, parks developed within residential land development districts often become local landmarks as cultural spaces, shopping facilities, and sports facilities are established nearby.

A representative example is Ilsan Lake Park. Besides residents of Ilsan, many outsiders visit this park for relaxation, leisure, and dates, resulting in steady foot traffic in the area regardless of the day of the week.

According to the KB Real Estate Live On commercial district analysis report, as of August 2020, the average daily foot traffic within a 700m radius centered on Ilsan Lake Park was 96,786 on weekdays (Monday to Thursday) and 93,412 on weekends (Friday to Sunday), showing that the area is bustling throughout the week.

Bundang Central Park is similar. It has long been a major local landmark as a large park representing Bundang. This area also sees an average daily foot traffic of 186,849 on weekdays and 176,566 on weekends, attracting crowds regardless of the day.

For these reasons, commercial properties adjacent to parks show high sales rates. For example, ‘Hills Avenue’ in Jung-dong, Bucheon-si, Gyeonggi-do, which was sold in 2018, highlighted its advantage of being located right in front of Bucheon Central Park, achieving a highest competition rate of 216 to 1 and an average of 10 to 1, selling out within three days of the subscription period.

Also, ‘Wave Square,’ supplied in April in Siwha Multi Techno Valley (MTV), Siheung-si, Gyeonggi-do, attracted attention as a Gongse-gwon commercial property adjacent to the 96,490㎡ Aqua Theme Park, surpassing a 65% sales rate within two months and completing sales this month.

Meanwhile, ‘Hills Avenue Jigeum DeFore,’ a commercial facility supplied by Hyundai Engineering in Dasan Jigeum District, Namyangju-si, Gyeonggi-do, is drawing investors' interest.

Hills Avenue Jigeum DeFore is being developed on approximately 42,000㎡ with a total of 250 units, spanning from basement level 1 to ground level 3 at 6192-1, Dasan-dong, Namyangju-si (Jigeum District Commercial 2BL). From floors 4 to 10, a total of 840 units of ‘Hillstate Jigeum DeFore’ officetels will be constructed.

The biggest feature of this complex is that it is a commercial facility with Gongse-gwon. Nearby are Hwanggeumsan and Hwanggeumsan Cultural Park, and right in front of the complex, the ‘Gyeongui-Jungang Line Railroad Covering and Park Creation Project’ is underway, which will cover the railroad to create a cultural park 594m long and 26.5m wide, scheduled for completion in 2024. Once the park is completed, it will attract visitors seeking leisure activities in a pleasant green space, enabling the formation of a hybrid commercial district bustling with people on both weekdays and weekends.

Additionally, Hills Avenue Jigeum DeFore is expected to benefit significantly from the concentration of public institutions around the complex. Currently, Namyangju City Hall’s 2nd building, Uijeongbu District Court Namyangju Branch, and Namyangju Education Support Office are located around the complex, while construction is ongoing for the Uijeongbu District Prosecutors’ Office Namyangju Branch and Uijeongbu District Court Namyangju Support. As these projects are completed one after another, an influx of public institution employees and visitors is anticipated.

The demand base is also solid. In addition to the approximately 13,000 households in Dasan New Town Jigeum District, the complex is located in the core commercial area among them. Furthermore, the fixed demand from residents of the 840-unit Hillstate Jigeum DeFore officetel, which will be built together, can be exclusively secured.

Moreover, the complex boasts excellent transportation conditions as it is located in the best area of Dasan New Town. It is an eight-minute walk to Donong Station on the Gyeongui-Jungang Line, offering access to Cheongnyangni in 20 minutes and Jamsil and Gangnam within 30 minutes, demonstrating excellent accessibility to both Gangnam and Gangbuk areas.

Additional transportation benefits are also noteworthy. First, with the opening of the GTX-B line (planned to start construction in 2022), it will be possible to reach Seoul Station from Donong Station within 30 minutes. The extension of Line 8, the Byeollae Line, and the establishment of a new Gyeongui-Jungang Line station (Wangsuk 2 District) are also planned. Furthermore, road traffic networks such as Wangsukcheonbyeon-ro and Suseok Bridge will be expanded.

Hills Avenue Jigeum DeFore plans to feature distinctive spaces on each floor. In particular, the first floor will be developed as a street mall harmonizing with the surrounding nature to maximize openness, creating a trendy space filled with comfort and freshness. The third floor will be designed as a cultural space combining living and cultural facilities, attracting family visitors. Additionally, the central large plaza on basement level 1 and ground level 1 can be used as a resting area, naturally increasing the length of stay.

The strong reputation of the Hillstate brand in the region also enhances its value. Hillstate, ranked first in apartment brand reputation in 2020 (according to the Korea Corporate Reputation Research Institute), has successfully supplied ‘Hillstate Dasan’ and ‘Hillstate Hwanggeumsan’ in the region. Along with the ‘Hillstate Jigeum DeFore’ officetel, the ‘Hills Avenue Jigeum DeFore’ commercial facility will be introduced with designs and products worthy of the Hillstate name.

Meanwhile, the model house for Hills Avenue Jigeum DeFore is located at 330 Mangwoo-ro, Jungnang-gu, Seoul.