A Development is resuming the implementation of its flagship project, Richert & Park, in the Podil district of the capital, and is expected to sign a memorandum with the city to fix investment commitments, the company’s press service told Interfax-Ukraine.
According to the updated concept, the construction area within Nyzhnyoyurkivska, Kyrylivska and Mylniy Lane streets will be reduced by almost 40 thousand square meters. A 5.85-hectare park with a cultural and sports center will be built on the newly formed site.
The implementation of the Richert & Park project in its rethought concept will provide the local community with relevant infrastructure functions, open a new page in the history of the monument complex after the completion of their restoration, and the 5.85-hectare park area, in addition to our patronage initiative to create a vertical park, will become the property of the entire city, providing local residents with landscaped green areas that are so lacking in Podil,” said A Development owner and CEO Oleksiy Baranov.
Currently, A Development is at the final stage of signing a memorandum with the city represented by Podil District State Administration, which sets out the developer’s obligations in relation to the territory.
The obligations include compliance with the height limits agreed with local residents during public hearings on the project; investment of UAH 40 million in the renovation of a school chosen by the local community; a set of restoration works on architectural monuments for which the developer has signed protection agreements; and improvement of the territory adjacent to the construction site.
The company undertakes to finance a project to create a public park on the slopes of Mount Yurkovytsia with an area of 6.5 hectares. UAH 40 million has been allocated for this purpose.
This vertical park will include walking areas and viewing terraces and will remain on the balance sheet of Kyivzelenbud for the care, preservation, and development of the green zone. The urban analysis and development of the park concept are currently being finalized. The team of Vlodko Zotov’s GA Initiative Architecture Bureau is working on the project. The next step will be to submit the concept for public discussion.
A Development also reported that, pending the signing of the memorandum, construction work has already resumed, but only within the queues where the maximum height of buildings does not exceed 27 m, for which the developer has a full package of permits. The team of Andriy Pashenko’s architectural studio is updating the concept of the fifth and sixth stages. Its presentation will be announced later.
A Development was established in 2017. Among its completed projects are the multifunctional residential complexes Smart Plaza Obolon, Smart Plaza Polyteh, and the Smart Hub Obolon business center. As of 2024, the company continues to build a shopping mall in the White Lines project, the residential sections of which were completed and put into operation during the full-scale invasion. A Station is among the completed projects of renovation of historical real estate.
