The project will include homes, a hotel component and retail and office space on the lower floors. Current zoning regulations allow building a tower with up to four basement levels, ground floor and 25 stories, which stands over 100-meter tall. The allowed built area above ground is about 25,900 square meters.
The price paid translates into about EUR1,740 per square meter or EUR390 per buildable square meter. The plot is near other projects of the company, such as One Gallery, One Floreasca Club and One Verdi Park.
The project is now undergoing the design and permit securing stage, and the company plans to hold an international architecture contest. Sales and construction should start in 2028, but the final concept and the schedule depend on securing the necessary permits.
(English version by Loredana Fratila-Cristescu)