Romanian developer Iulius and Atterbury Europe proposed the large-scale project, which is estimated to be upwards of EUR 0. In a first phase, Iulius relocated the Carbochim factory, the largest manufacturer of professional abrasives in Romania, into an area suited for industrial manufacture while investing EUR 7 million to optimize and streamline its business.
Iulius said that the project intends to preserve buildings that are symbolic of the local identity. These two buildings will be integrated into the project and repurposed for cultural uses and for supporting local initiatives. A performing arts center and an auditorium will also be created, both cultural concepts marking a premiere for a real-estate project based in Romania.
In fact, the project will include an extensive entertainment component featuring outdoor event spaces, open-air cinema, family-friendly interactive entertainment centers, a concept-bookstore, and dedicated sports and wellness areas.
All of these are part of the retail area spanning more than , sqm, alongside approximately premium and mass market brands, a mix of international coffee shops and restaurants, a fresh market, a medical hub, and so on.
The project will also entail the creation of 4, underground and aboveground parking spaces, of which will be fitted with electric vehicle charging capabilities, as well as 2, bicycle parking spaces. The project is currently in the building permitting phase. The first phase of the works, namely the dismantling of the former industrial facilities, is nearing completion, as this endeavor is independent of the approval and permitting process for the new project.
