Real estate developer One United Properties converts office complex into residential lofts

One United Properties, one of the leading real estate developers in Romania, recently converted a building within its One North Gate office complex into a residential development project named One North Lofts.

The new residential apartments are located on Pipera Boulevard, close to the Promenada Mall business district and Bucharest’s largest park, Herastrau.

The initial development project consisted of two buildings, which will now be separated. One building will be fully reconverted into One North Lofts, with a gross buildable area of approximately 20,000 square meters and a gross development value of EUR 30 mln. The other building will remain in One United’s office portfolio under the One North Gate name.

“One North Lofts is based on our landmark concept of mixed-use developments, which offers residents a full array of facilities located in immediate proximity. The reconversion of an office building will allow its tenants to benefit from spectacular apartments. One North Lofts brings to the Bucharest market a unique concept of lofts, living spaces typically situated inside renovated industrial or office buildings, offering open floor plans with high ceilings and large windows for natural light,” said Beatrice Dumitrașcu, CEO of the Residential Division at One United Properties.

One North Lofts has six floors with a total of 137 residential units which vary from studios to one-, two-, or three-bedroom apartments with surfaces of up to 170 square meters per unit. The ground floors are occupied by commercial spaces. There are also over two hundred parking spaces above and underground.

One North Lofts is estimated to be completed in September 2023. The sales for this development have already been launched, and there are flexible purchase options to access the units.

(Photo source: One United Properties)