The Cheongnyangni Station Area, Emerging as a New Residential Complex and Securing Back-Demand, Draws Attention with 'Hills Avenue Cheongnyangni Station'

Commercial Facilities Around Cheongnyangni Station with Abundant Back-Demand... Stable Investment Returns Expected
'Hills Avenue Cheongnyangni Station' Attracts Strong Buyer Interest

Recently, the area around Cheongnyangni Station has secured housing demand through successful residential facility supply and large-scale residential environment improvement projects, raising expectations for the revitalization of the local commercial district. In this context, ‘Hills Avenue Cheongnyangni Station’ is expected to establish itself as a key commercial facility in the area.

The residential environment around Cheongnyangni Station has significantly improved, leading to an increasing trend in housing demand. With the planned redevelopment of Cheongnyangni District 4, population inflow is expected to continue, ensuring a stable hinterland demand for commercial facilities.

However, this area previously faced difficulties in forming a commercial district due to the presence of harmful facilities and Gyeongdong Market nearby. The demolition of these harmful facilities and the development of the Cheongnyangni station area have only recently taken place. The existing commercial facilities within the private station building at Cheongnyangni Station alone cannot meet the increased demand, making new commercial facilities and commercial district formation necessary.

In this situation, ‘Hills Avenue Cheongnyangni Station’ is attracting attention as a commercial facility expected to lead the formation of a new commercial district. This commercial facility is geographically positioned to secure all residential complexes around Cheongnyangni Station as its hinterland demand. In particular, it is directly adjacent to Miju Apartments with over 1,000 households, providing excellent conditions for commercial district formation.

Additionally, it is located at the transportation hub of the Cheongnyangni area, allowing it to encompass even more hinterland demand. It boasts excellent accessibility to Cheongnyangni Station and is adjacent to Wangsanno Road, making it a location that must be passed when using public transportation by bus, which is a locational advantage.

Industry experts say, “In new towns or large-scale development areas, it is essential to establish living infrastructure for newly incoming demand, so the supply of commercial and office facilities is also an important factor. With the recent low-interest-rate trend and the contraction of the housing market, interest in income-generating real estate is increasing, so it is also good to pay attention to thriving areas in the housing market.”

Developed and supplied by Hyundai Construction at 235-6 Cheongnyangni-dong, Dongdaemun-gu, Seoul, ‘Hillstate Cheongnyangni Station’ consists of a residential officetel with 954 units ranging from 20 to 44㎡ in size, spanning from basement level 7 to ground level 20, along with commercial facilities and public office facilities (community service center).

Among these, the commercial facility Hills Avenue Cheongnyangni Station is located from basement level 1 to ground level 4. Especially, the public office facilities within the complex include the Cheongnyangni-dong Community Service Center, autonomous meeting hall, Dongdaemun headquarters, and existing community service center facilities, as well as cultural and welfare-related facilities such as a joint childcare room, book caf?, and fitness center, providing abundant living infrastructure. Additionally, with Cheongnyangni General Market and Gyeongdong Market nearby, synergy effects with existing traditional commercial districts are also expected.

Urban maintenance projects continuing nearby further brighten the future value of ‘Hills Avenue Cheongnyangni Station.’ Starting with the urban maintenance project of the Dongbu Agricultural and Marine Products Market in Jeonnong-dong and the redevelopment of Cheongnyangni District 4, the market and residential environment in the somewhat outdated Cheongnyangni Station area are expected to improve, leading to a significant population inflow centered around the commercial facilities of ‘Hillstate Cheongnyangni Station’.

Moreover, there are plans to establish the Hongneung area, including Cheongnyangni-dong and Hoegi-dong, as a bio-medical research and development (R&D) hub, linking surrounding universities, research institutes, companies, and hospitals to create a bio-medical cluster. The first phase of the project was completed last year. The second phase, including the ‘BT·IT Convergence Center’ and ‘Global Cooperation Building’ in 2021, and the ‘Advanced Medical Device Development Center’ in 2024, is scheduled, which will further increase the essential hinterland demand for commercial facilities.

Hyundai Construction’s differentiated commercial facility design is also an anticipated factor. Hills Avenue Cheongnyangni Station boasts excellent visibility through a street-type design along the main road, increases dwell time through connections with a sunken plaza and central square, and enhances accessibility and convenience with escalator installations.

A sales official of ‘Hillstate Cheongnyangni Station’ said, “As the residential environment around Cheongnyangni Station improves and the population increases, it is a necessary time to supply commercial facilities. Hills Avenue Cheongnyangni Station, as a commercial facility heralding the beginning of development around Cheongnyangni Station, will become a representative commercial district of the area.”

‘Hills Avenue Cheongnyangni Station’ is currently open for viewing and detailed consultation at the model house located at 235-2 Cheongnyangni-dong, Dongdaemun-gu.

This content was produced with the assistance of AI translation services.