A new commercial district map is expected to be drawn in Dong-gu, Ulsan. Shin Young Co., Ltd., which has successfully led landmark commercial facility sales in the region, is reportedly preparing to launch landmark commercial facilities in the Seobu-dong area of Dong-gu, Ulsan.
Shin Young Co., Ltd. will sell the commercial facility "Ulsan J-Well City Mall" within Ulsan J-Well City Xi Complex 1 and 2 in Seobu-dong, Dong-gu, Ulsan, in December. The "Ulsan J-Well City Mall" consists of 152 units (69 units in Complex 1, 83 units in Complex 2) with a total floor area of 16,061㎡, spanning from the ground floor to the 5th basement level.
The "J-Well City Mall" supplied by Shin Young Co., Ltd. so far has all gained popularity as landmark commercial facilities in their respective regions. The first "J-Well City Mall," introduced through the Cheongju Daenong District's "Cheongju J-Well City" mixed-use development (MXD) project in 2007, has established itself as a representative hot place in the Chungcheong area with its diverse MD composition and exterior design.
Building on the success know-how of "Cheongju J-Well City Mall," Shin Young Co., Ltd. supplied "J-Well City Mall" in Cheonan Buldang District in 2015 and Incheon Guwol-dong in 2017, achieving consecutive sell-outs. Last year, the "Tangjeong Station J-Well City Mall" in the Tangjeong District J-Well City Prugio complex also completed contracts in a short period.
The success of "J-Well City Mall" in the market is analyzed to be mainly due to Shin Young's differentiated design, diverse MD composition, and brand recognition. In particular, to enhance visibility and accessibility for customers, a distinctive street-type design is applied, along with a safe lease program and customized MD composition to revitalize the commercial district, attracting local residents' interest.
Shin Young Co., Ltd., which has solidified its position in the commercial market through successful sales in regions such as Cheongju, Cheonan, and Incheon, announced that it will supply "J-Well City Mall" in the Seobu-dong area of Dong-gu, Ulsan.
Ulsan J-Well City Mall secures both demand from the hinterland and floating population. First, it can secure fixed demand from 2,687 households in "Ulsan J-Well City Xi Complex 1 and 2," and within a radius of about 500 meters, there are approximately 12,000 apartment households including Seobu Seongwon Sangteville, Seobu Hyundai Family, and Hyundai Family Myeongdeok, providing a solid hinterland demand. Additionally, Hyundai Heavy Industries is located opposite the J-Well City Mall, with about 100,000 workers and partner company employees, creating workplace demand.
Moreover, about 500 meters west, there are educational facilities such as Seobu Elementary School, Hyundai Middle School, Hyundai High School, Ulsan Dongbu Library, and Hyundai Sports Clubhouse, enabling the securing of demand from students as well as the general public.
Design efforts were also made to revitalize the commercial district. Visibility and accessibility were enhanced with an approximately 800-meter V-line street design connecting Complex 1 and 2, and commercial facilities were arranged using level differences to allow entry from the road to the basement floor.
Anchor tenants will also be introduced through zoning-based MD composition considering the location. Buildings A and B will house financial institutions, franchises, medical clinics, and exhibition sales businesses to activate the initial commercial district. Buildings C and D will be arranged with neighborhood-oriented living facilities and academies considering accessibility for residents of the complex and adjacent complexes. Buildings E and F will introduce neighborhood-oriented living facilities and franchise F&B to revitalize the entire shopping area and increase its value.
"Ulsan J-Well City Mall" is scheduled to be completed in May 2023, and the model house is located on Beonyeong-ro, Nam-gu, Ulsan.
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