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September 30, 2022
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The Topolinski investors family answers the call of District 2 residents and adds 550 student spots in the SkyLight project in Obor area

The 550-capacity will include one primary school, kindergartens and nurseries

InteRo Property Development, owned by the Canadian Topolinski investors family, will develop a total of 550 student spots in its SkyLight Residence project, following an understanding with the District 2 City Hall and a survey it carried out among district’s residents.

Michael Topolinski, founder of InteRo, says: “SkyLight Residence is a EUR +500 million landmark project that will forever transform an iconic neighborhood of the city of Bucharest, revitalizing old and dilapidated factory buildings with no green areas, into a vibrant hub for people to work, shop, live and have fun. We have great appreciation for Mayor Radu Mihaiu and his team, for the transparent and pragmatic approach to our complex project that is aimed at improving residents’ lives and raising their living standards. We met the Mayor and his team several times at Sector 2 City Hall, and also surveyed over 400 residents so as to identify the best solutions and answer their needs. The outcome of this public dialogue was an improved and more relevant project for the entire community.”

He added: “We are excited to be included in Mayor Radu Mihaiu’s revitalizing project for Gara Obor and area – a visionary project financed by the World Bank, which includes a new 30,000 sqm park adjacent to SkyLight Residence.”

Developed for the medium and premium market, SkyLight Residence is a sustainable project designed to comply with the BREEAM standard of excellence certifying green projects. The mixed-

use development will include more than 35% green areas (compared to the mandatory 30%), over 2,200 apartments, 89,000 sqm offices as an IT campus and 8,540 sqm of commercial area.

The green areas will include 5 private parks with swimming pools, running tracks, reading areas, dog parks and meeting spaces.

Answering District 2 residents’ needs, InteRo will now add a primary school with a capacity of 250 children, three kindergartens (with a total of 150 capacity) and three nurseries (also 150 spots).

The Topolinski family also agreed to donate the local administration EUR 12-million worth of roads they will build as part of the SkyLight development. The City Hall budget will also benefit from RON 15 million-worth in annual taxes resulting from the project, which will provide important financial support for new District 2 investments.

An additional benefit for the local community will be the development of the 8,000 sqm central park allowing for connection between the Bucur Obor Park and a new 3-hectare park planned when CFR land is revitalized. InteRo has also committed to plant 1,000 large trees in the area.

 

About InteRo Property Development

 

Established by the Topolinski investor family (father Michael and his three children – Michael, Tyler and Ashton), InteRo Property Development has been present in Romania for more than 15 years, helping to drive the overall growth of the local Real Estate market in terms of standards and mentality.

The developer’s exclusive list of partners includes the Romanian proptech startup Bright Spaces, the international property management company LGM Group, as well as premium brands like Skanska, Lidl, Balbec, Libra Bank, and private investors and global investment funds from North America, Asia and the nearby countries.

Landmark deals include the 2012 purchase of 78,000 sqm on Progresului for EUR 21 million, where Vulcan Value Center stands today, and the largest transaction of 2019, when they sold half of former Dacia Textile platform to Skanska Property Romania for EUR 23 million to build an office project.

InteRo recently became the first real estate developer in Romania to implement the Bright Spaces digital solution for its entire residential portfolio, currently at 480,000 sqm of total built area (204,000 sqm of office space and 2,788 apartments). As InteRo’s portfolio grows, InteRoVerse will integrate all its projects in the virtual residential world.

The InteRo Property Development portfolio includes innovative and efficiently designed projects aimed at creating high-quality living and working spaces:

 

  • NorthLight Residence. Located in the middle of nature in North-East Bucharest, the project spans 13,000 sqm and includes a total of 110 apartments with an exceptional view of the lake, 4,000-sqm of green spaces, playgrounds and a 320-sqm pool.
  • New Confort City. Located in the Southeast of Bucharest, the 280-apartment project will also benefit from a unique, much-needed green area for the community.
  • SkyLight Residence. Situated in the central part of the City (Obor area), the 10-hectares mixed-use project will provide upon its completion a total of 89,000 sqm of office space and 270,000 sqm of residential.
  • Bucurestii Noi project has been designed as an environmentally-friendly, state-of-the-art technology IT campus that will be developed on a 5.2-hectare plot connected to the Jiului Metro station. As an integrated project, it will consist of 7 office buildings totaling 197,000 sqm (93,000 sqm to be developed by Skanska Property Romania, and the rest by InteRo Property Development).
  • Pajurei 3 Residence is the developer’s first luxury project, featuring 167 luxury apartments, which will be located in an exclusive area in Pajura, Northern Bucharest. InteRo has a PUZ, has chosen an Architect and revised the Project, with construction scheduled to start in Q1 2023.

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