Contract signed for development near Vaneyev Street in Nizhny Novgorod
Nizhny Novgorod authorities and the special developer «Ecolife» signed a contract for the comprehensive development of the territory within the boundaries of Boris Panin, Poltavskaya, Respublikanskaya, Izhorskaya streets and Vysokovsky Proyezd. This is reported on the website of the regional government.
As a result of the auction, the price of the right to conclude the comprehensive development contract amounted to 406.6 million rubles (approximately $4.1 million at current rates), with an initial cost of 11.73 million rubles (about $117,000). It is expected that the volume of investor obligations, including the costs of relocating residents, will exceed 2.2 billion rubles (around $22 million).
Plans to develop the site near Boris Panin Street were presented in 2023. The project includes three non-contiguous plots with an area of 3.3 hectares. They plan to demolish 21 residential buildings — mostly dilapidated and run-down structures. In their place, nine buildings up to 18 stories high will be erected with underground parking, a kindergarten, and an adult polyclinic.
In December, the investor who will handle the renewal of the block was determined. The auction was won by the special developer «Ecolife» from Izhevsk.
The specialized developer «Ecolife» is part of the UDS group of companies. In Nizhny Novgorod, the holding is building the residential complex «N1» near the Chkalovskaya metro station.
«Ecolife» is owned by Alexey Chulkin, a major entrepreneur and former deputy of the State Council of the Udmurt Republic. He also holds the position of chairman in the regional branch of «Business Russia». According to the service «Kontur.Fokus», Chulkin owns a number of companies engaged in construction and the extraction of precious metals and oil.
The investor must complete the project within seven years. For more details about the comprehensive development project in the Sovetsky District, we covered it in a separate article.
