Corvin Promenade’s Phase II. has Opening Ceremony

Budapest, 29 October 2013 – Dr Máté Kocsis, Mayor of Józsefváros and Dr Péter Futó, President of Futureal Group inaugurated the second phase of Corvin Promenade today.

The new passage links the Nagytemplom and Leonardo Da Vinci streets section, and with this extention the Promenade has reached 500 meter length including covered and open sections, resulting in the completion of over 70% of Corvin Promenade. The modern, lush green Promenade, created by the plans of Robert Townshend, the world-famous landscape architect and Anikó Andor landscape designer, already represents a symbolic value and attracts visitors. The park has a unique attraction: the graphic concrete street furniture and the stepping stones of the vapour area recall the motives of the trees found on the Promenade, thanks to the City Landscape Group.

“Józsefváros lives a new Renaissance. We are rebuilding it brick by brick to make it more beautiful and liveable. The greatest appreciation for us is that this change has become apparent not only for us, who live in the district, but also for the tourists and also foreign papers are writing about the Promenade. And we have not finished the reconstruction, we are having many duties as well as new plans’’, emphasized Dr Máté Kocsis, Mayor of Józsefváros.

As a result of the property development started in 2004, the area has been developing continuously and dinamically. Almost 1,200 residential units, 44,000 m2 offices, over 100 shops units and the largest inner city sports centre, Life1 Wellness have been completed so far. Thanks to the development, the plan has turned into Corvin Promenade, a new prosperous quarter, a new city centre in the heart of Józsefváros.

“We are glad to see that despite all doubts our City in the City concept has been favoured by the buyers, tenants and residents. The Corvin Promenade project is live, it has created a quarter in a new sense and fulfils a dominant role to form a positive image of Józsefváros. This quarter is getting integrated in the life of the district as well as of the capital, upgrading the neighbouring areas too. Almost 2,000 people have chosen Corvin Promenade to live on, and every day over 4,000 people come to Corvin Offices to work. What seemed to be unimaginable a few years ago has become reality now: the area has been reborn, Corvin Promenade is constantly thriving and developing’’, said Dr Péter Futó, President of Futureal Group.

Although the approximately half a million m2, HUF 200 billion value development program is over half-time, it is far from the final completion. Over 280,000 m2 floor space has been completed so far, over 25,000 m2 public space has been renewed, and the development program is going to continue. Opposite the recently completed 284 residential unit Sun Resort a new construction will soon begin: the 227 residential unit Cordia Park Residence is expected to be completed in Q3 2015, further widening the property selection of the Promenade.

Beside the residential part the multiple award winning Corvin Promenade is accomodating sizable office space as well. The fact that Corvin Offices I and II – handed over in the recent years – are almost fully let is a clear justification of the existance of this complex city development program in this part of Budapest. The construction of Corvin Corner, the latest office project in the vicinity of Corvin Plaza has already started, and following its delivery scheduled for Q3 2014 it will satisfy further tenant’s needs in modern, innovative environment over 6,300 m2 GLA.