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Setl City Continues Development on Vasilyevsky Island

2015 september 29

Setl City (a company of Setl Group) has made a contract of implementing a redevelopment project in Vasileostrovsky District of St. Petersburg as the developer with Lipsanen & Co Group. On the land plot over 7.2 ha in total area, Setl City will build about 130,000 sq. m of housing, 10,000 sq. m of integrated commercial spaces, an underground car-park for about 1000 cars, and a kindergarten for 170 children. The roughly estimated total volume of investment is 17 billion roubles.

The area to be developed is bounded by Kosaya liniya, the 25th liniya of Vasilyevsky Island, Maslyany canal, Kozhevennaya liniya, and the 26th liniya of Vasilyevsky Island. A special feature of the project will be restored administration buildings of the Steel Rolling Mill at the corner of the 25th liniya and Kosaya liniya, and the Rope Section of the Krasny Gvozdilshchik factory with the water tower at the corner of Maslyany canal and the 25th liniya. Shopping, cultural and entertainment spaces are to be placed in the restored buildings.

Moreover, Setl City’s plans include the re-creation of the red-brick façades and the exterior of the so-called Chopin’s Mansion in the 25th liniya.

The new buildings of the future residential estate will rest on a single stylobate formed by the roof of the car-park. The height of the buildings will not exceed 10 storeys. At the moment, the project is under design. Setl City is planning to start sales of the first stage in 2016. And the entire project is to take 5 years.

In immediate proximity to the site, in the area of the intersection of Bolshoy Prospekt of Vasilyevsky Island, the 24th/25th and Kosaya liniyas, a metro station Gorny Institute (“Mining Institute”) is to be built, which will be the next station after Teatralnaya (“Theater”). According to the plans of the Transport Infrastructure Committee of St. Petersburg, the Gorny Institute station is to be commissioned in 2019.

That will be Setl City’s second project on Vasilyevsky Island: at the moment, the company is building the business-class residential estate The Residence in Maly Prospekt of Vasilyevsky Island, which is to be commissioned next year.

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Companies of Setl Group holding