Pungdong 2 District in Goyang City, Gyeonggi Province, is once again attracting attention. Various development projects are finally bearing fruit, and along with the mega boon of the GTX-A line opening, a massive wave of change is sweeping through the commercial district in this area. At the center of this transformation is undoubtedly the complex commercial and cultural space, 'Ilsan Avenue de Eloy.'
With the partial opening of the GTX-A line scheduled for the end of 2024, Ilsan is being reorganized not just as a suburban city in the metropolitan area but as a 'living zone' connected to downtown Seoul. In particular, Pungdong 2 District is evaluated as an optimal transportation hub located between Pungsan Station and Baengma Station, positioned right at the heart of the metropolitan transportation network benefits. As a result, both the influx of floating population and the demand for commercial and residential spaces are explosively increasing.
Pungdong 2 District is a mini new town-scale complex development project being built on approximately 340,000㎡ of land, with about 4,600 apartment and officetel units scheduled for phased occupancy. 'Ilsan Avenue de Eloy' is a commercial facility located at the center of this large complex, designed as a 'community hub closely connected to daily life' beyond a simple shopping area. The street mall, spanning 1 to 3 floors above ground with a total area of about 17,000 pyeong, adds the sensibility of European street culture, capturing the attention of both consumers and investors.
'Ilsan Avenue de Eloy' naturally connects with Pungdong Stream flowing within the complex, embodying a unique concept as an eco-friendly commercial space in the city. This place is a complex space that integrates leisure, entertainment, and cultural content beyond mere shopping, and it is expected to function as a community hub capable of hosting various cultural events and outdoor activities.
Major anchor tenants, themed stores, kids cafes, and locally based brunch cafes are scheduled to open, and recently, popup stores and lifestyle-based brands targeting the MZ generation are also in negotiation for tenancy.
'Ilsan Avenue de Eloy' secures a stable base with an internal fixed demand of 4,800 households and has a catchment population of about 350,000 within a 3 km radius. Additionally, the inflow demand extends from KINTEX with 5.8 million annual visitors, Lake Park with 6.3 million visitors, Ilsan Techno Valley, and Daegok Station area, further expanding to Goyang City's total population of 1.07 million, nearby Paju, Gimpo, and the northwestern part of Seoul, making it possible to attract over 10 million metropolitan customers.
This clearly means securing an 'independent commercial district premium' differentiated from the existing Ilsan old downtown commercial area, guaranteeing high customer attraction as a monopoly commercial district without competition.
'Ilsan Avenue de Eloy' also offers various financial programs to reduce investment burdens. It operates a 'Master Lease Program' that guarantees a fixed annual return of 5% for five years on most units except designated business types, along with a full interest-free benefit on interim payments for all units.
This is expected to contribute to stable income security for a diverse range of investors, from small investors to rental business operators focusing on medium to large stores.
'The Sharp Ilsan Eloy' apartments achieved a remarkable success with a highest subscription rate of 27.48 to 1 and an average of 16.25 to 1 at the time of sale in August 2021, selling out all types. As a result, the commercial complex 'Ilsan Avenue de Eloy' within the complex is also expected to continue its sell-out success as an investment destination with both brand reliability and customer inflow power.
The sales promotion center for 'Ilsan Avenue de Eloy' is located in Daehwa-dong, Ilsanseo-gu, Goyang City, and more detailed consultations and sales guidance are available upon prior reservation and visit.
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