A giant plot in the center of Pushkin will be built up with low-rise housing

A giant plot in the center of Pushkin will be built up with low-rise housing

Setl Group is starting to implement a large-scale low-rise project in the center of Pushkin. On 40 hectares of land the company will be able to build about 280 thousand m2 of housing.

The Committee on Urban Planning and Architecture issued an order on the preparation of documentation on the planning of the territory bounded by Kolpinskoe Highway, Udalovskaya Street. and Moskovsky highway in the Pushkinsky district of St. Petersburg. The document was issued at the request of Specialized Developer Settle Project LLC. The developer owns 40 hectares of land on this territory.

According to the order, it is planned to locate there a low-rise multi-apartment residential building, preschool education facilities, a school with a capacity of at least 825 places, an organization of secondary vocational education, two indoor sports complexes with an area of ​​more than 4 thousand m2 each, parking lots, etc.

Setl Group acquired the site in 2022 from Development of Territories LLC, which is part of the Detskoselsky concern of Yuri Braginets. Now zone TZH2 has been established there, which allows the construction of low-rise residential buildings. In total, according to experts, up to 280 thousand m2 of housing can be built on this territory. The volume of investments may amount to more than 30 billion rubles. According to market participants, a business-light residential complex can be built in the location.

“The advantage of this location is its proximity to the center of Pushkin and the Tsarskoe Selo railway station. The cost of housing here can be 170–190 thousand per square meter,” Igor Kartsev, general director of Maximum Life Development, assessed the project.

Now, according to estimates from the consulting group “Strategies and Solutions”, more than 100 thousand m2 of housing are being built in Pushkin and its environs. The FSK group, Etalon, and KVS are building their projects.

This is a good acquisition for Setl Group. “The company has repeatedly stated that it plans to introduce 1 million square meters of housing annually, and for this it is necessary to have a diverse bank of projects in high-quality locations and of different classes. The project in Pushkin fits well into this plan,” says LifeDeluxe project manager Sergei Bobashev.

Now, according to experts, Setl Group’s land bank is about 13–15 million m2 of housing under construction and design. For comparison: LSR Group, according to its own data on assessing the value of assets, has a bank of projects that allows it to build 10.5 million square meters, while the Etalon Group in St. Petersburg has only 0.6 million m2.

At the same time, in the Northern capital the demand for low-rise housing is growing. Now the share of low-rise buildings in the demand structure of the St. Petersburg agglomeration has reached 14%.