Forbes: A new Paveletskaya. Away from compromises, in the metropolis' centre of life
PIONEER is actively transforming the business district near the Paveletskaya metro station. Being a part of the historical space of Moscow, this location is being changed according to the principles of integrated development of territories. The property developer will build the HIGH LIFE residential complex, as well as the OPUS club residence and business centre.
Forbes’ article tells about the prospects of development of the location and PIONEER projects:
“Attempts to turn Moscow into the city of future architecture have been made many times over the past 100 years — from Tatlin and Shchusev to Posokhin and Kuznetsov. Today the epicentre of the capital’s redevelopment is the Paveletskaya Square area, which in a few years, will be transformed almost beyond recognition. What are the prospects for the residential property market in this location?
In recent years, Moscow City has been considered to be Moscow’s calling card from an architectural point of view. The quarter of skyscrapers was actively built up, was a point of development and was perceived as Moscow’s most perfect area. However, on weekends, life here almost comes to a standstill. Unlike, for example, the Patriarshiye Ponds neighbourhood, where partying concentrates around dozens of restaurants, and everything you need for a cosy life is available. At the same time, there were still places in Moscow that had long been attracted to the construction of business and premium-class housing by location, but for various reasons, remained in the shadow of real estate developers’ interest. Now they are designed to combine the best of both Moscow and the world.
“One of the most changed areas in Moscow over the last five years is the location around the Paveletsky railway station — from the Garden Ring to Derbenevskaya, Paveletskaya and Danilovskaya embankments,” says Timur Ryvkin, Director of Residential Property and Land Development at Nikoliers. The city’s active work to improve the territory and coordinate quality residential and public-business projects has helped to start the reconfiguration of the area — from former industrial enterprises and railway infrastructure into a centre of attraction with ambitious property development projects, where high-class housing is combined with quality administrative and business functionality and a comfortable public environment”.
In terms of administrative boundaries, the territory captures two districts at once: Zamoskvorechye and Danilovsky. Today more than 10 development projects are being implemented here, mostly residential, the appearance of which claims the “hallmark” status in the near future. PIONEER is the main developer of the location, which over the last few years, has reoriented its portfolio of projects to deluxe and premium class. All these years, the company has been constantly raising the bar of its own projects, prioritising the quality of construction and high consumer characteristics. For PIONEER, a comfortable environment is not limited to the necessary minimum; the property developer’s ambitions extend to decades of urban development. Entering the premium segment was a logical step and a new stage for the company. And it is characteristic that it started with the Paveletskaya neighbourhood, which the real estate developer is actively transforming today.
The average price of one square metre in the Paveletskaya district exceeds 600,000 roubles. A square metre in a luxury project, such as, for example, the OPUS club residence, reaches up to 1 million roubles. Nevertheless, new projects here during the construction period (two-three years) can rise in price by 30-40% due to the development of location”.
