One United Properties and Auchan Romania have joined forces to develop a multi functional real estate project in Bucharest. Located at the junction of Mircea Eliade and Floreasca, One Floreasca City, will occupy an area which was abandoned for the last 20 years.
The scheme compromises the former Ford factory, which will be transformed in a contemporary retail space, operated by Auchan Romania, a class A office building, One Tower, and three exclusive blocks of design apartments One Mircea Eliade. The entire project will be built on a 2.8ha plot, of which 30% will be occupied by green areas.
The investors paid special attention to the way they will integrate the project with the historic building of the former Ford factory. The building dates back from 1935 when the American company was manufacturing luxury cars in Bucharest. The property was nationalized when the regime changed and from 1948 functioned under the name of “Automatica”. After the fall of the communism system, the factory ended its glory days and finally, production was stopped. For 20 years the former factory has not been used and has suffered severe degradation. Under the new development, the facades and the luminary in the main area will be dismounted, restored with a specialized team in those type of works and assembled back on a new structure. The new building will be transformed into a contemporary retail space, operated by Auchan Romania. To respect the heritage of the property, the investor will use for the interior design vintage Ford models, some of them produced in the inter-war years at Bucharest.
The development for €100m development is expected to start in April, with the completion expected for 2020. As a part of the project, the developers will also invest €1m for infrastructure improvement.