The developer Speedwell, which almost two years ago bought nine hectares of the land of the former Griro factory in Bucharest, is waiting for the approval it needs to draw up the Zonal Urban Plan (PUZ) for the giant EUR 500 million project. In addition, the company has since June the authorization to demolish the Griro tower, but for now it will not proceed with these works, until it advances with the project authorization procedure. The demolition permit is valid for 12 months and can be extended for another year.
“Our calendar is foggy. We are a year and a half behind our original plans and have not heard back from City Hall. We didn’t think we would get the demolition permit faster than the approval,” said Jan Demeyere, Speedwell co-founder and partner.
While CityZen project is blocked, the company has made acquisitions of new land in other cities in the country.
Source: Economica.net
