11 Apr '11
Developer Mavis has announced $107m plans to build a residential complex in St. Petersburg, Kommersant reports.
The company has reportedly bought out a four-hectare land site in Seven Capitals development project from SVP Group. Under the Seven Capitals project, SVP Group intended to build eight residential complexes architecturally copying eight European cities: Vienna, Berlin, Barcelona, London, Paris, Rome, Madrid and Amsterdam.
Mavis bought out land, which is intended to be used for construction of Paris complex.
Under the project, the company is to build 90,000 square meters of comfort-class residential housing, as well as four schools and eight kindergartens.
Construction is scheduled to start by the end of the year, further timeframes for the project have yet to be disclosed.