ERS Holding is hoping to revive plans to build Residence Tower, which at 107 meters would be the tallest residential highrise in Slovakia. The project is to go up near another residential project in Bratislava, Jégého alej, completed by Finep. However, the residents in Jégého alej protest against the development of Residence Tower. Bratislava’s commission for urban planning now wants to put the project on ice, as the construction location has changed since the permits were issued in 2006.
Residence Tower was originally supposed to be a hotel, but the investor put those plans on hold when the crisis hit. Roman Ruhig, the chairman of the ERS Holding board, told Trend Reality that the developer now wants to change the project into rental apartments. He says the company secured a bank loan covering a quarter of the construction costs. The project secured a construction permit in 2006, which was later extended. The current permit requires completion before September 2017.
