Far East | Real estate

Blagoveshchensk’s $370m housing eyed

27 Apr '10
A large residential complex may be built in the city of Blagoveshchensk, Amur Region, regional officials announced.

A local developer, Bureyazhilpromstroi, has been named the general contractor for the project called Ignatievskaya Usadba.

The tentative cost of the project is a reported $370m.

According to Bureyazhilpromstroi CEO Vladimir Vlasenko, the complex to house more than 13,600 people will be built on a huge 500+-hectare area.

Construction will reportedly last ten-to-twelve years; Phase 1 already started this past February, Mr. Vlasenko said.

Under plans, 16 sixteen-storey buildings will be at the heart of the project, with 34 townhouses for three-four families each with land to till and 70 cottages completing the picture. Mr. Vlasenko added that the first five high-rise buildings were scheduled for commissioning within the first three years of the Ignatievskaya Usadba project.
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