One United’s Real Estate Project Approved by Sector 5 Local Council
The Sector 5 Local Council has approved the Urban Development Plan (PUD) for the real estate project that One United intends to build on the land purchased from the family of former mayor Adriean Videanu. The gross development value has been estimated at 400 million euros.
One Cotroceni Towers Project Overview
Located at 48-80 Progresului Street, a mixed-use building known as One Cotroceni Towers is proposed to be constructed. The project will be adjacent to One Cotroceni Park, which was built on the former Ventilatorul factory site.
Architects from Sector 5 have reviewed the legal documentation for the project, with input also provided by the city’s architect. Nicușor Dan, the mayor, is involved in the meeting discussing plans for the tallest residential towers in Romania. The mayor has urged councilors to carefully consider and not rush their decision on the project.
The development is set to include collective housing, offices, commercial spaces, a multifunctional hall, services, a pool, a medical clinic, as well as access points and additional amenities.
One United Properties’ Ambitious Residential Development Plan
In February of last year, One United Properties acquired a five-hectare plot of land owned by the family of former Bucharest mayor, Adriean Videanu. The land is located in a complex of five towers, with a maximum height of 35 floors.
At the time of the land purchase, One United Properties announced plans to build 1,300 apartments, with two of the towers reaching 33 floors, making it the tallest residential development in Bucharest and the region.
Two other towers are expected to have 23 floors each, while another building will have 16 floors. The plans include connecting the residential towers at the ground and first floor levels, where service spaces will be located.
