Moscow authorities have given Coalco, which belongs to the businessman Vasily Anisimov, the green light to build an international hotel and conference center with facilities for sport, leisure and business on the site of the Young Pioneers Stadium. The plot is 5.4 hectares, and the building is permitted to be as large as 422,700 square meters.
Developer Coalco will develop the project and is planning to build 11 structures, three of which will be over 100 meters high, Begovaya urban development manager Viktor Kurasov told Northern Administrative District Prefect Oleg Mitvol in a letter, a copy of which was obtained by Vedomosti.
A source in the Mayor’s Office said Coalco obtained the territory up to two years ago.
The managing director of the Moscow Central Property Exchange, Artyom Tsogoyev, said investment in the project was worth at least $500 million but that such a sum could not be borrowed from banks these days. Tsogoyev said the construction was unlikely to begin in the near future.
“Demand for real estate is currently low. Besides, even before the crisis there were several other projects declared in this region, for example, Alcon Developments’ business centers. This project will not become active for at least another three years,” he said.
But Mitvol intends to block the project. In his letter, Kurasov requests that the city government’s permission for the project be withdrawn, saying that after the construction is finished sports facilities, which now occupy the majority of the territory, will take up only 3.8 percent of the area, while the conference center will take up only 1.2 percent of the space.
“I have consulted with residents of the Begovaya region, and they are categorically opposed to the construction,” Mitvol said. He said the investment contract with the company would be signed by the prefecture as the city’s representative but that the prefecture would almost certainly not comply because it would not want to deprive residents of their access to sporting facilities.
“The prefecture’s consent is absolutely necessary for the realization of the project. But the prefecture must justify its decision,” said Tatyana Palchikova, deputy general director of Trust 1991. She added that if the developer did not agree with this decision, then it could take action in court.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.