Zhong Guo Jing Ying Bao·2025-08-29 19:50Core Insights - The article discusses the revitalization of the Xiyue Street project in Beijing's Fangshan District, transforming previously idle assets into a vibrant commercial and residential hub [3][4][5]. Project Overview - The Xiyue Street project, located near the Liangxiang University Town subway station, faced challenges due to the impact of commercial policies that left parts of the development idle after completion [4]. - The project team focused on innovative restructuring and functional re-creation to activate approximately 110,000 square meters of "sleeping assets," making it a notable case in Beijing's urban renewal efforts for 2024 [3][5]. Market Strategy - The project emphasizes the importance of maintaining overall synergy and long-term viability in commercial real estate, contrasting with previous strategies of simple sales [5]. - The team conducted thorough market research to tailor the project to the needs of local demographics, including over 180,000 students and a large young consumer base in the area [5][6]. Commercial Offerings - The updated commercial space includes over 300 brands, featuring popular and unique stores, enhancing competitive differentiation [6]. - The project introduced diverse offerings such as a music bar, various dining options, and retail experiences to cater to a wide range of consumer preferences [6]. Residential Development - The project repurposed the Twin Towers into long-term rental apartments, addressing the demand from local students and young professionals, with a flexible pricing strategy [7][8]. - The occupancy rate for the rental units reached nearly 50% within two months of opening, indicating strong demand [8]. Community Impact - The revitalization has improved the area's livability by enhancing public spaces and integrating commercial and residential functions, thus addressing the long-standing issue of work-life balance in the region [9][10]. - The project aims to become a central hub for various activities, including office spaces, creative industries, and student entrepreneurship, contributing to the local economy [10]. Conclusion - The Xiyue Street project serves as a model for urban renewal, demonstrating how precise positioning, creative transformation, and smart operations can breathe new life into existing assets [10].