Another significant project is being developed in Bratislava's downtown
This week we managed to close the acquisition of land from the HB Reavis company in Bratislava's Old Town, between Mlynské nivy, Chalupkova, and Košická streets. New spaces for living, work, and civic amenities will be built on the area of nearly three hectares.
This acquisition adds a total of 27 950 square meters of land to our portfolio, designated for future construction in accordance with the existing zoning plan for the Chalupkova zone. The zoning plan stipulates a 70:30 public amenity to housing ratio, in favor of public amenities. The plot currently contains construction facilities associated with a temporary operation of a bus station, including paved areas, platforms, a gas station, and a bus wash.
Our vision for the plot is to create a mixed – use project which combines residential and administrative function. The exact concept will be established through an international architectural competition, which is planned to be announced towards the end of 2023. An exception to this approach is the office building on Mlynské nivy Street, which will kick start the entire project, with construction expected to commence within a year. This building will draw on the project approved by the previous owner, although we aim to collaborate with a selected architectural studio to tailor the project to our preference. The estimated start of construction is planned for the third quarter of 2023.
"As a developer, we stand behind the successful SKY PARK project in the Chalupkova zone. Therefore, I am pleased that we are returning to the area, bringing high-quality architecture to the Old Town of Bratislava, once again. A significant added value will undoubtedly be the removal of environmental burdens from the former refinery, affecting part of the site, which will be carried out in accordance with valid regulatory and technical standards. I perceive this acquisition as a confirmation of our expansion strategy on the Bratislava real estate market, with the aim to bring quality development to the residents of the capital," said Juraj Nevolník, Managing Director of Penta Real Estate Slovakia.