Authorities present investors for Burnakovka and Rossiya cinema site development

An apartment building, a modern ice arena, and a new residential quarter are planned to be built in Nizhny Novgorod. Two agreements on comprehensive development of territories have been signed with investors, the press service of the regional government reported.

Plots in the Leninsky and Moskovsky districts will be allocated for construction. One of them is located at the intersection of Lenina Avenue and Zarechny Boulevard and covers an area of 1.74 hectares. The authorities signed an agreement for this territory with the company «Karo-Film». The investor is obligated to build a residential building with 597 apartments and a covered ice arena for public skating and sports.

The area of the sports facility will be almost 3.9 thousand square meters (approx. 42,000 sq ft). After construction, it will be transferred to the ownership of the region. In total, more than 4.3 billion rubles (approx. $48 million at current rates) will be required for the project implementation.

The second agreement was signed with the special developer «Burnakovka». It will develop a territory of over 13 hectares (approx. 32 acres) on Burnakovskaya Street. Currently, within the construction boundaries there are only non-residential objects — in their place, they plan to build an entire microdistrict with high-rises up to 25 floors, a multi-level parking lot, a public transport platform, and a kindergarten for 230 children (which will also be transferred to the ownership of the administration).

In addition, the investor will improve the territory along the banks of Burnakovskoye Lake and carry out environmental measures to reduce the sanitary protection zones of industrial enterprises. The project is planned to be implemented within 15 years.

It is worth adding that plans to build a new ice arena on the site of the former «Rossiya» cinema were first discussed in 2024. As reported by «Kommersant-Volga», the building was purchased by the company «Reka», affiliated with the St. Petersburg developer Veren Group.

As for the development of Burnakovskaya Street, in total, nine apartment buildings and a kindergarten are planned to be built here. It is expected that about four thousand people will be able to move into the new apartments. What the residents of Burnakovka think about the upcoming development was told in a report.