Corvin Promenade, 2014
Futureal’s Corvin Promenade project wins one of the most prestigious real estate development awards in the world.
One of the biggest urban rehabilitation projects in Europe, Corvin Promenade has garnered yet another internationally recognized professional award: it has won the 2014 Global Awards for Excellence of the Urban Land Institute.
The ambitious concept of Corvin Promenade has created an unparalleled urban rehabilitation that has already been recognized by a number of professional organisations during the years. Among others, it has won the International Property Award for the “Best Mixed-use Real Estate Development project in Europe”, the Prix d’Excellence of FIABCI, and a part of the project, Corvin Plaza won the CIJ Award for the Best Commercial Real Estate Development project in Hungary, still in the year of its opening.
Corvin Promenade is the biggest urban rehabilitation project in downtown Budapest, a carefully designed quarter of the future in the heart of Budapest. There has been no project of this scale in the inner districts of Budapest since the construction of Andrássy Street completed in 1896. On about 22 hectares of the city section that underwent fully infrastructural, architectural and environmental reconstruction, high-quality residential, office, commercial, service and sports facilities have been created as a result of the exemplary cooperation between the 100% Hungarian-owned Futureal and the municipality of the Józsefváros District.
ULI Global Awards for Excellence
The award ceremony of the ULI Global Awards for Excellence was held in New York on 22 October 2014. The award given to Corvin Promenade was received by Futureal’s Chief Architects Gábor Radványi and Gábor Kovács, and the project’s mastermind, urbanist György Alföldi (RÉV8 Zrt.).
The Urban Land Institute is a global nonprofit education and research institute supported by its members. Its mission is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. Established in 1936, the Institute has more than 32,000 members representing all aspects of land use and development disciplines. The 11-strong jury of the Institute has recognized the best achievements with the ULI Global Awards for Excellence for the 36th time this year. In selecting the winning projects, in addition to considering responsible land use, the evaluation criteria included the quality of architecture, the impact of the project on the environment, how the developers cooperated with local organizations and what alternative financing methods were applied.