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Varna One Mega Complex Begins Construction

Construction has started on a vast multi-dimensional residential complex, spanning a parcel of land of 77 000 sq m. The enormous complex is adjacent to Vladislav Varnenchik blvd at the former site of the VAMO engine manufacturing plant which recently terminated business activity, Stroitelstvo Gradut reports.The first construction phase will be initiated in April 2009 in the eastern sector of the plot. Final completion is scheduled for June 2011. This parcel is designated for the residential part of the complex, boasting six large apartment blocks consisting of 41 flats each, varying in size and from 67 sq m to 112 sq m. Adjacent to it will be the second residential zone, comprising five buildings and 180 flats. The blocks will be positioned one on top of another and they will vary in height, between nine, 12 and 15 storeys, so that each provides a good sea view.Phase two of the construction process will start in January 2010. This will shape the western sector of the site, where the shopping centres, recreation centres, coffee shops and the business zone will be housed.The project is a creation of Planning Sofia, with David Engineering and the Israeli company Erez Gilboa with Rafi Cohen being the chief architect. The main investors are Edmond de Rothchild, Private Equity Management Ltd, EDR Holding BV, City Realty Ltd Sofia.This is an enclosed planned unit development project situated in a unique location, "secluded by nature yet close to the centre of Varna". Taking full advantage of the green environment and close proximity to the sea, Varna One complex is situated directly on one of the main road junctions leading to the city, so "it is only three to seven km from the most strategic and busy locations in Varna".Adjacent to the complex on either side will be green zones with parks, alleys, a playground, a lake and a skating rink. A recreational centre, a play school, and other entertainment facilities will also be built.The cumulative space of residential, shopping, recreational, business and office space will cover an area of 250 000 sq m.