Xi S&D, winner of the top prize in the commercial development category, presented an urban mixed-use development model combining residential, office and retail functions through the commercial facilities at Chungjeongno Station Xirene. The company designed and built spaces tailored to both residents and office workers at a site directly connected to a subway station, while the developer directly operates key facilities to sustain foot traffic in the commercial district and raise value at the community level.
Created through an urban redevelopment project covering the 10th and 11th districts of Mapo-ro Zone 5, around 157-2 Jungnim-dong in Seoul's Jung District, Chungjeongno Station Xirene will comprise 299 apartment units along with office and retail space, forming a mixed-use complex with a total floor area of about 100,000 square meters. Of that, the retail portion accounts for about 16,659 square meters, with 173 units spread across two basement levels and the first two above-ground floors. Xi S&D placed 143 of the retail units in the residential building and 30 in the office building to capture demand from both residents and office workers.
The core of the development is the circulation linking transit and retail space. The complex was designed so that shoppers can enter the retail area directly from Chungjeongno Station on subway lines 2 and 5, allowing commuter traffic to flow naturally into stores. The project also secures captive demand from about 36,917 square meters of office space within the complex, which will house roughly 2,200 workers.
The mix of tenants on each floor was differentiated according to why visitors come and how long they stay. The second basement level is planned for convenience retail and takeout outlets aimed at subway passengers, while the first basement level will host cultural and experiential anchor tenants that draw longer visits. The first floor will center on food and beverage, cafes and bakeries for everyday visits, and the second floor on destination businesses such as restaurants, medical clinics, beauty services and children's facilities.
What sets the project apart is the developer's continued involvement in operating the retail district after units are sold. About 30% of the retail space, measured by net floor area, is planned as directly operated space, with the company running key units itself to lead the tenant mix toward businesses that draw crowds. Xi S&D focused on raising the level of completion through customized design so that its directly operated stores and anchor facilities can maximize their draw. The strategy is to maintain the facilities that will anchor the district while channeling visitors on to surrounding stores.
Applications for apartments at Chungjeongno Station Xirene in August drew an average of 44.5 applicants per unit. Following that result in the residential portion, Xi S&D plans to leverage the station-adjacent location and the strengths of mixed-use development in the retail portion as well. The development strategy also draws on the facility management and operating experience the company has accumulated. Founded in 2000 as a home networking systems specialist, Xi S&D now provides services spanning housing and offices, including smart home systems, post-completion apartment management, property leasing and operation, and facility and infrastructure management.
"Construction companies that survive from here on will not be those that simply build well, but those that continuously operate users' daily lives and spaces," Xi S&D CEO Koo Bon-sam said. "We will compete with a system that links development, construction, facility management and operation as one."
