Credit: Iulius Group
Development | Ticker

Iulius launches €500 Million Urban Regeneration Project in Romania

Iulius Group is launching a new investment in Cluj-Napoca: more than half a billion Euros for their urban regeneration project in Romania.

The investment will tranform the Carbochim industrial platform into a destination of the city in Cluj (Transylvania). The Carbochim factory will be relocated this year and upgraded. The new project includes:

  • The largest retail area in the country (115,000 sq m)
  • A center dedicated to performing arts
  • Conservation of two industrial heritage buildings and reintroduction thereof into the public circuit
  • Green spaces connecting the urban garden spanning on 4-plus hectares with the adjacent parks, and a complete reconfiguration of the road and pedestrian infrastructure
  • A new bridge and a pedestrian walkway over Someș River
  • An eco-neighborhood integrated in a mixed-use project
  • Bicycle and pedestrian infrastructure along the Someș River waterfront
  • Consolidating a new business hub
  • The largest underground parking lot in the country, with 6,000-plus parking spaces

The Carboshim industrial platform spans on approximately 14 hectares, with less than 30% of the area currently utilized for manufacturing purposes, while the rest is either underused or residual. More than €5 million will be invested in relocating, modernizing, and upgrading the production unit, without interruptions to its activity.

“We want to give to the city a piece of itself by transforming the Carbochim platform into a space for the entire community. The urban reconversion investment will be a large-scale one, in line with the general urban development strategy of Cluj. This project is designed for the present, but also for the generations to come,” said Iulian Dascălu, President of Iulius Company.

The Largest Retail Area in Romania

New high-end brands, anchors that cater to families, a diverse food & beverage mix, a fresh market supporting local entrepreneurs and producers, and entertainment concepts marking national premieres will transform the largest retail area in Romania with a leasable area upwards of 115,000 sq m into a regional leisure destination, both indoor and outdoor, for people of all ages.

The investment will be made in partnership with Atterbury Europe. The project is undergoing the analysis, consulting and authorization phase, with construction works expected to begin in early 2023.

Credit: Iulius Group

Gardens, New Promenade Areas, and an Outdoor Sports Center

The entire project will open towards Someș River and will be integrated naturally in the new green & blue axis of the city. A bicycle and pedestrian route will connect three parks in Cluj-Napoca: Armătura Park, Feroviarilor Park, and the new garden upwards of 4 hectares fitted in the mixed-use complex. The Someș River waterfront will be converted into a leisure area, with outdoor sports facilities, and leisure options, being connected to the project via pedestrian walkways.

Moreover, a new generation of residential units, currently in the design phase, will overlook Someș River and the integrated park and garden areas. They will offer generous floor areas, glazed façades, ample individual terraces, shifting the focus from space saving to flexibility, and combining indoor-outdoor activities. The development will include 23,000-plus sq m of smart green office spaces, that will help consolidate the local presence of certain multinational companies, in an area set to become one of the strongest business hubs of the city in the coming years.

Sustainable Urban Reconversion

The investment entails the urban restructuring of the entire area. The most important feature is creating a new bridge over Someș River, north of the railroad, an investment that will complete the transit ring between Porțelanului Bridge and Răsăritului Bridge. Concurrently, this endeavor also entails creating new roundabouts, widening streets, and creating new pedestrian access points providing connections to the city.

The development is pedestrian-centric, implementing “walkable city” principles, and providing facilities to encourage public transit. It will also feature a large underground parking facility with more than 6,000 parking spaces, as well as 3,500-plus bike parking spaces, and electric vehicle charging stations.

Spaces for Music, Arts, and Entertainment

The new development will be integrating cultural-industrial heritage in a real estate investment: two monumental buildings on the Carbochim platform will be converted and given back to the community as cultural and experiential spaces. The old facility will be converted into a live-arts center and will be managed by some of the most prominent cultural organizations and festivals in Cluj-Napoca. This will prove a venue for concerts, theater, and contemporary dance performances, as well as fashion, design, and media arts events.

Additionally, the project includes an amphitheater and spaces for outdoor events, a theater, and cinema hall, and more. The second building to undergo conversion is the factory administration building, set to be transformed into a space that reunites both coworking facilities and pilot-spaces for promoting entrepreneurs, encouraging local talents, and innovative initiatives.

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