Corvin Sétány seen revitalizing District VIII
District VIII will see the revitalization of the area surrounding the historic Corvin movie theater with the start of the Corvin Sétány (Corvin Promenade) project, a Ft 150 billion investment financed through publicprivate partnerships.
The Futureal group is the lead private investor in the project, which envisions a pedestrian walkway wider than Andrássy út and longer than Váci utca, including almost 3,000 apartments, a 200-room fourstar hotel, office space, shops and restaurants, and a research and development center linked to the nearby Semmelweis Medical University.
The public portion of the project includes preserving historic buildings, renovating a school and two metro stations, building a new kindergarten and a parking structure.
Construction on the 22-hectare site is slated to begin in May 2006 and be completed in 2012.