- Only 3 large convenience facilities nearby... Premium lifestyle convenience expected
- Anticipated benefits from new line development centered around Cheongnyangni
Recently, modern people tend to prefer living areas within a mall zone where shopping, culture, and leisure can be conveniently enjoyed within their living radius. As the lifestyle trend emphasizing convenience spreads, locations near large convenience facilities such as department stores and large supermarkets are gaining attention.
Mall zone complexes are also highly valued for investment. Typically, large convenience facilities analyze whether transportation and nearby demand can support stable operation before entering a location, so being close to such facilities allows one to fully enjoy the same locational advantages. Additionally, the increasing demand for mall zone complexes can be advantageous for tenant recruitment.
Consequently, mall zone complexes are receiving heightened attention in the recent sales market. Hyundai Construction is currently selling ‘Hillstate Cheongnyangni Metroble’ at the core location of Cheongnyangni, a representative mall zone area in Dongdaemun-gu. It is a residential complex consisting of △ 288 urban lifestyle housing units (including 75 public rental units) and △ 96 officetel units, totaling 384 units. After selling out all officetel units, contracts for urban lifestyle housing are underway.
The complex is equipped with abundant surrounding infrastructure. First, the commercial district near Cheongnyangni Station, which is densely packed with large-scale mixed commercial facilities, is accessible on foot. Cheongnyangni Station’s Lotte Department Store and Lotte Mart, as well as Homeplus at Yongdu Station, are all within walking distance. In addition, administrative institutions such as Dongdaemun-gu Office, community centers, and police stations, as well as hospitals, are conveniently accessible.
Neighborhood living facilities are located on the 1st to 3rd floors above ground, enabling a one-stop lifestyle within the complex for daily needs such as food, clothing, and shelter.
As expected from a mall zone adjacent to large convenience facilities, it also secures excellent transportation networks. It is about a 5-minute walk to Yongdu Station on Line 2, about 6 minutes to Jegidong Station on Line 1, and about 7 minutes to Cheongnyangni Station, which serves Line 1, Bundang Line, Gyeongui-Jungang Line, Gyeongchun Line, and KTX, making it a triple station zone location that is expected to enjoy superior transportation premiums.
Moreover, according to the 2nd Seoul Urban Railway Network Construction Plan, the Dongbuk Line (Wangsimni Station to Sanggye Station) will be added at Jegidong Station, and GTX B and C lines, Myeonmok Line, and Gangbuk Transversal Line will be added at Cheongnyangni Station, signaling future value appreciation. In particular, the Dongbuk Line at Jegidong Station is expected to directly benefit the complex as the platform will be connected underground right in front of the complex.
As part of the redevelopment project, the approximately 493,000㎡ area around Cheongnyangni General Market has been designated as a Seoul city regeneration activation area, and environmental improvement projects for urban regeneration and revitalization of the traditional market commercial district are planned, which is expected to enhance residents’ living convenience.
Benefits are also expected from the recent relaxation of regulations on urban lifestyle housing. The newly launched government is strongly considering excluding urban lifestyle housing from the housing supply count. If this plan is implemented, the tax burden on multi-homeowners will be reduced, and market supply is expected to become more active.
Meanwhile, Hyundai Construction is operating a model house for ‘Hillstate Cheongnyangni Metroble’.
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