There is also an age in cities and streets.
As time goes by, and as time goes by, the person who finds it,
The vitality gradually decreases.
“Let’s rebuild the old city center that fell behind.”
The lifestyle developer NEOVALUE worked on the ‘Alleyway Incheon’ project to solve this very homework. And in April 2021, ‘Alleyway Incheon’ opened in Dohwa-dong, Michuhol-gu, Incheon.
“My Terrace in the City” that will shine as much as Songdo
The area near Dohwa-dong, located in Michuhol-gu, Incheon, was an area with a wide gap between the new city and the original city center. It received relatively less attention compared to Songdo right next to it. Because of this, the residents’ attachment to the city was very low. However, residents’ expectations for urban regeneration were high.
To overcome this problem and add vitality to the streets, NEOVALUE planned a commercial space with the goal of “the central shopping center in the Incheon living area that is faithful to the basics and adds practical value.”
The concept of Alleyway Incheon is “My own terrace in the city.” Alleyway Incheon is the place where three daily experiences become lively, colorful consumption, and convenient cultural experiences. It is a lifestyle village where you can enjoy various tastes in your own way.
NEOVALUE added the contents needed by local residents such as shopping, entertainment, culture, rest, and restaurants to Alleyway Incheon. It revitalized the old downtown of Dohwa, Incheon, which lacks convenience facilities, and created a space where you can feel rich experiences and local culture in front of your house without going far away.
The commercial district of Dohwa-dong that NEOVALUE paid attention to
What NEOVALUE paid attention to was the excellent location conditions in Dohwa-dong. Alleyway Incheon is located in the central commercial district of Dohwa district in Incheon. A large residential town of 5,500 households, including the 1897-generation Incheon The Sharp Sky Tower and the residential and commercial complex, is built within a radius of 600m, which has excellent location advantages with solid fixed demand.
Nearby, there are large industrial complexes such as Juan National Industrial Complex and Incheon General Industrial Complex, six or more government agencies such as Administrative Town, Jemulpo Smart Town, Incheon Government Complex, and 17 or more educational institutions such as Cheongwoon University 2nd Campus, Elementary, Middle and High School. It can absorb various demand groups such as the surrounding full-time population, students, and faculty. In fact, in the case of the casual wear brand “Top Ten,” which opened the earliest during the pre-opening period, sales of more than 100 million won were recorded on the first day of the store’s opening.
Masterless Operation with Low Vacancy Risk
Alleyway Gwanggyo, which opened before Alleyway Incheon, has become a landmark of Gwanggyo New Town a year after its opening. Alleyway Incheon, like Alleyway Gwanggyo, is directly operated and managed by lifestyle developer NEOVALUE.
NEOVALUE owns 70% of all shopping malls and minimizes general sales (30%) to attract anchor tenants that delayed residents need. We are also making efforts to revitalize the shopping mall through the integrated operation management of Master Lease. Masterless refers to a business method in which a real estate developer rents an entire building and re-regenerates it.
Based on its operational know-how at Alleyway Gwanggyo, NEOVALUE systematically organizes the business of Alleyway Incheon Shopping Center (MD), introduces an integrated management system that encompasses asset management and rental (PM), facilities, safety, beautification, parking (FM), and events. Through this, we plan to make Alleyway Incheon a local lifestyle landmark loved by Incheon Dohwa residents.
To enjoy shopping, relaxation, and art at the same time
Design is also the biggest strength of Alleyway Incheon. NEOVALUE has designed Alleyway Incheon facilities with “Mory Building Urban Planning,” a Japanese global company that has built local landmarks through urban regeneration such as Roppongi Hills and Ginza Six. In order to create a lifestyle center optimized for regional characteristics, it has been built in a square shape that combines a low-rise face-to-face shopping mall and an Indian shopping mall. In the center of Alleyway Incheon, a plaza and green park will be created so that not only family customers who visit with their young children but also customers of all ages can enjoy leisurely shopping and pleasant rest at the same time.
NEOVALUE presents a variety of artworks to provide visitors with a special artistic experience in their daily lives, just like at Alleyway Gwanggyo. NEOVALUE’s philosophy is to pursue the value of art in everyday life. You can see the works of Korean pop artists such as Eddie Kang and Lim Ji-bin and furniture writer Ham Do-ha at Alleyway Incheon.
It adds rich content to the region to revitalize the region and makes residents feel proud I want to create a space like that. In the future, we will focus on creating a "vibrant neighborhood and urban culture centered on people" in front of our house even if people gather again and don't go far.