Suwon 'Gwonridan-gil' Future Value Embracing 'Bia Triple West' Neighborhood Living Facility Site for Sale on June 27

- Over 8,000 Households in the Mini New Town 'Suwon I-Park City' with Exclusive Jar-Shaped Commercial Area Ensuring Strong Back-Demand
- Various Fixed Demand Factors Such as Schools, Parks, and Academies Expected Within the District

The key to success for commercial facilities that investors focus on is abundant and stable demand from the surrounding area.

Having abundant demand from the surrounding area means that large-scale residential complexes or industrial complexes are concentrated near the commercial facility, attracting both stable demand and floating population.

In particular, commercial facilities backed by large-scale residential towns have solid fixed demand, making them highly preferred products among investors. They can secure resident demand as a fixed base and also gain a certain level of monopoly effect, allowing for stable rental income.

Meanwhile, 'Viatriple West,' which holds future value in Suwon Gwonseon District with secured demand from large-scale residential towns and schools, has announced a bid for neighborhood living facility sites ahead of its commercial space sale and plans an on-site bid on June 27.

Suwon Gwonseon District, where 'Viatriple West' is located, is one of the new city-scale urban development projects covering 993,000㎡ around Gwonseon-dong. It includes about 60,000 fixed demand from approximately 8,000 households of 'Suwon I-Park City,' 3,236 households of 'Suwon Haneulchae The First,' Air Force housing, villas, and more.

Especially, 'Suwon I-Park City,' a large-scale residential town that will be the direct demand base for 'Viatriple West,' is situated here. It is a mini new city-scale complex with about 1 million㎡ of land, consisting of 7,000 households across 12 complexes from 1 to 12. When the future 'I-Park Town' complexes 1 to 4, covering about 47,000㎡, are completed, the total will approach 8,000 households.

Although about 6,600 households have already moved in and are residing, there has been a shortage due to a long stagnation in the supply of commercial facilities despite perfect infrastructure such as metropolitan transportation, large parks, and schools. The sale of neighborhood living facility sites at 'Viatriple West' is expected to be good news for residents. In particular, it is anticipated to be highly competitive as the last neighborhood living facility site within 'Suwon I-Park City,' making it very scarce.

The synergy effect of floating population inflow from Majung Park, which faces the 'Viatriple West' project site, is also expected. Majung Park, which is eight times the size of a soccer field, has various facilities such as walking trails, water play areas, ground golf courses, futsal fields, and dog rest areas, attracting many visitors and naturally channeling them into the commercial facilities. Especially, environmentally friendly commercial facilities where people can enjoy leisure are expected to be popular trends recently.

Additionally, on the block right next to 'Viatriple West,' separated by the central fountain plaza, 'Viatriple East' commercial facilities are also planned. It is expected to form a large commercial district with a perimeter of about 820 meters, becoming a local landmark known as Suwon's 'Gwonridan-gil.'

The transportation network is diverse, making it excellent for absorbing floating population. It is a 10-minute walk from Seryu Station on Subway Line 1 and near Suwon Bus Terminal, facilitating easy regional movement. The Osan-Yongin Expressway Seryu IC (planned) and GTX-C (planned) will expand the metropolitan transportation network. Once GTX-C (planned) opens at Suwon Station, it will allow fast transfers to Gangnam areas like Yangjae and Samsung Station without transfers. Moreover, the Osan-Yongin Expressway project connecting Osan and Yongin is underway around the complex, and an 8.3 km section passing through Suwon city center is planned to be constructed as a deep tunnel, further improving future transportation convenience.

Furthermore, there are established school districts and academy areas such as Namsuwon Elementary, Gwonseon Middle, and Gokjeong High School, as well as various university campuses including Kyonggi University, Sungkyunkwan University, and Kyung Hee University, providing an advantage for attracting young demand.

School facilities are also planned to be expanded to absorb demand from students and staff. On May 16, Suwon City and Suwon Education Office held a groundbreaking ceremony for the future-type integrated school Gokban 3 Elementary and Middle School and the Gwonseon District school complex facility in the Gwonseon-dong area within Suwon I-Park City. This is the nation's first future-type integrated school, consisting of 35 classes: 4 kindergarten classes, 18 elementary, 12 middle, and 1 special class, aiming to open in March 2025. Additionally, the formation of academy districts desired by residential town residents is expected to naturally follow.

The sale of neighborhood living facility sites at 'Viatriple West,' which has solid demand from large-scale residential towns, schools, and floating population through metropolitan transportation networks, is expected to record high competition rates. There are only two neighborhood facility sites within 'Suwon I-Park City,' and this is the last one, making it highly scarce. Residents of the residential town actively desire commercial development such as academies and convenience facilities, which raises its future value.

Moreover, 'Viatriple' commercial facilities have the advantage of being located on the main road within a monopolistic jar-shaped commercial district, providing excellent customer attraction power.

A representative from the developer Triple Hills said, "Viatriple already meets all the core conditions to be expected to be called 'Gwonridan-gil' of Suwon Gwonseon District in the future, like Seoul's Gyeongridan-gil and Songridan-gil. Especially, this land sale of Viatriple West is the last neighborhood living facility site within the 8,000-household single-brand city Suwon I-Park City, which embraces both a park and a school. It is expected to surpass the highest competition rate of 294 to 1 for the store-residential land adjacent to Viatriple," he explained.

The neighborhood living facility sites of Viatriple West, which announced bidding today on June 27, consist of a total of five lots ranging from 463㎡ to 616㎡ within G1 Block of Suwon I-Park City.