Press Release: How Bucharest City is being revitalized by thinking small in a big way – the conversion of 2 ha industrial plot of land in Colentina into a mixt real estate development

The real estate developments should never be only about buildings, but always about communities, about conserving, preserving, renewing, rebuilding, and rejuvenating them. The objective of this article is destined to attract the forerunners of a new urban vision, who are focusing on the micro before wrestling with the macro and are understanding that the macro only changes for better in micro-steps.

We can see creative change and economic growth in several districts of Bucharest (ex: central-west area – Grozavesti Neighborhood or most recently the central-south area – Timpuri Noi Neighborhood), where the rediscovered and restored older areas are genuinely lively and busy places. We believe that the once successful industrial areas of Bucharest are amazing opportunities for city development in all districts, including Colentina Neighborhood.

Our proposal is an industrial plot of land with a total area of 20,900 sqm, located in Bucharest’s 2nd District, East Side, in the vicinity of Lake Fundeni, a significant advantage for the development of a residential complex as regards the proximity to a nature element. You can access the site location by using Fundeni Road, in Pantelimon neighborhood, approx. 5 km East of km “0”, Piaţa Universităţii, by walking distance or public transportation. The property is located in the eastern area of the capital, where there are another 2 PUZ ongoing at this moment and the project to be developed shall be coordinated with both (source: http://urbanism.pmb.ro/). Also, if we are traveling to the area, we are seeing the major infrastructure works started by the Municipal Company for Streets, Bridges, and Passageways for Doamna Ghica Passage, an investment estimated at 23 mil Euro.

The existing PUZ regulations may be amended based on an approved PUZ (ongoing), requesting the change of the intended use of the land, in compliance with the development trend of the area (from industrial into collective housing and complementary functions). We are in on-going process by approving the PUZ and the potential real estate development for this plot of land is:

• 83.700 sqm – 8 buildings from UG+GF+6-20 Floors
• over 750 apartments (55.800 sqm)
• commercial spaces (retail, leisure - 6,700 sqm; offices – 14,500 sqm)
• parking spaces (over 550 car parking spaces)
• green areas (panorama park, runway, jogging, bicycles path).