Speedwell will soon begin construction on its latest project, Paltim, in Timișoara. The demolition permit has been issued and the works are set to start in the first part of July 2020.
Paltim is an urban regeneration mixed-use project that will replicate the recipe of Record Park, a project developed by Speedwell in Cluj-Napoca, planned to be delivered this year. Developed on an old industrial site, the former Paltim hat-factory, it will repurpose and give back to the city’s residents an important historical site, while significantly contributing to the development of the city’s central area.
Speedwell aims to conserve the historical and cultural heritage of the location and plans to refurbish two of its abandoned buildings: an old monument villa and one part of the former factory.
Furthermore, Speedwell is in advanced discussions with AMBASADA for the latter to reopen a location in one of the new Paltim’s historical buildings, continuing the work of connecting with the local community.
The Paltim mixed-use project will be developed in phases. Phase 1 will include 153 apartments and 12.500 sqm of Office space and it is planned to be delivered mid- 2022.
Speedwell will partner with Imoteca for residential sales and Griffes for office space leasing. Arhimar is the architecture firm in charge with the project’s design, while SubControl is in charge of the permitting process.
„Through this project, we are increasing our portfolio in Romania that already includes Record Park in Cluj-Napoca, Triama Residence, The Ivy, and MIRO in Bucharest, and Riverside City in Râmnicu-Vâlcea. We are reaffirming our confidence in Romania’s real estate market through our long-term strategy.” states Didier Balcaen, Co-founder and Partner at Speedwell.