New Military Town To Rise In Varna

The Defence Ministry has gone ahead with the documentation regarding the building of a military town in the Vladislav Varnenchik district in Varna. The town is supposed to be able to accommodate over 80 per cent of the military personnel in Varna and all other military installations in the surrounding region, weekly Stroitelstvo Gradut reported.The project will boast over 1720 flats in eight massive buildings. Each building will have seven separate entrances and will stand six stories tall. The attics of all buildings will also be designed in way so that they can be used for living space, if necessary. Each building will also have its own underground parking lot two stories deep. The built-up area of the building site will be 213 338 sq m, with the real living space being 129 378 sq m. The underground facilities will take 83 960 sq m.Several years ago, the Defence Ministry exchanged three hectares of area in Varna with seven panel flat estates in Sofia and Bourgas. The estate was sold for 85 euro a sq m, with the market price at the time being over 900 euro. The new owner built a luxury building with 95 apartments, 21 shops, 17 offices, undergrond parking lot with 77 slots and five independent garages. With a total area of 12 855 sq m, with some of the property being sold off-plan with 40 to 50 per cent discount on the final price. Thus, the Defence Ministry lost the opportunity of acquiring 30 plus apartments in the centre of Varna. The scandalous deal was completed two days before the Cabinet left office."After passing a vote on the 'Vladislavovo' project, the tax evaluation will be prepared, after which the official permisison for the commencement of construction will be released," Defence Ministry media statement said, as quoted by Stroitelstvo Gradut weekly. The new construction flats in Varna are currently marketed at 550 to 600 euro a sq m.Vladislavovo is considered a highly desired suburb of Varna. Being on the outskirts of the town, it increasingly attracts more investment and witnesses new spawning construction projects. It also boasts well organised and developed infrastructure. The city hall has invested nearly five million leva for refurbishment and renovation, new traffic lights, parking lots, street lamps and roadwork rehabilitation.A new common zone encompassing almost 144ha in the public planned development will be included in the project, which was designed by the city's chief architect Alexandra Becheva. The area will be between March 3 Street and Konstantine and Frouzkin Boulevard.The new zone is divided into seven sub-complexes which can only be urbanised up to 50 per cent over all, and total urbanisation cannot exceed 2.5 per cent.The construction has to bear in mind the already existing underground infrastructure in the region, in particular the water pipes Kitka - Varna and their auxiliary facilities. The street lanes are 10m to 12m wide which provides good communication between the different parcels.Vladislav Varnenchik was designated as a Varna suburb back in 1986. Several big-name chains have opened business in the area, including Metro, Technomarket, Bourleks, Piccadilly, and others. Following the massive construction which will take place of course it is only natural for other massive retail chains to open business and for the area to gravitate upon itself even further investment.Five smaller flat estates will be build in immediate proximity to the army installations, they will be four stories tall and they will each boast their own planned unit development and common area space for trade and recreation. Fast Building OOD is the main investor in the project and additional investments are expected to arrive for trade, recreation and residential construction from Manaus Commerce.