InteRo starts construction works at its EUR 1 bln green mixed-use project in Bucharest

InteRo Property Development, owned by the Canadian Topolinski investors family, started the construction works at its EUR 1 billion, mixed-use project SkyLight Residence in the Obor area of Bucharest.

Phase 1 of the project will deliver 551 apartments within seven buildings. As construction works will accelerate by the end of this year, the developer plans to have the first residents occupy in 2027.

The development will have a total built area of over 486,000 sqm - 370,000 sqm of residential space (over 2,200 apartments) and 115,000 sqm of office space, including an IT campus. The project will also include over 4,000 parking spaces and an 8,540 sqm commercial area.

Designed to comply with the BREEAM standard of certifying green projects, SkyLight Residence will be developed by using energy-efficient technologies. The project includes almost 28,000 sqm of green area, representing more than 35% of the land area of the project, compared to the mandatory 30%, the company said.

More specifically, residents will have access to private parks with a combined area of 9,000 sqm, and a 7,000-sqm public park allowing for connection between the Bucur Obor Park and a new three-hectare park planned when the neighboring CFR land is revitalized. Another 12,000 sqm of green areas will be distributed throughout the project. InteRo Property Development has also committed to planting 1,000 large trees in the area.

SkyLight Residence will honor the cultural heritage of Obor area and the Aversa factory as the residential and office buildings will be using the same iconic red brick along the façade, for the first three levels facing Piata Obor. Also, two large pieces of iconic manufacturing machinery from the 1800s that were preserved from the Aversa pump factory will be on display in the park and promenade area.

InteRo will also build one primary school that can accommodate 250 children, three kindergartens (with a total capacity of 150) and two nurseries (150).

“We designed SkyLight Residence as a green, energy-efficient project and, given its features and transformative potential, it was included in District 2 mayor’s project to revitalize Gara Obor and the surrounding area. The project financed by the World Bank is an example of intelligent development and our family is happy to get on board and create additional value for the sustainable future of this neighborhood,” said Michael Topolinski, founder of InteRo Property Development.

(Photo source: press release)