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. Last Updated: 07/27/2016

Top-End Housing Planned for Patriarch's Ponds

For MTThe Estate on Patriarshiye condominiums, right, are to be partly covered in greenery and face a formal garden with a maze.
The development of one of Moscow's most prestigious neighborhoods -- the area around Patriarch's Ponds -- is gaining pace with at least eight residential construction projects planned.

Some of the first new homes scheduled for completion are the 29 apartments in the Estate on Patriarshiye condominiums on the corner of Bolshoi Palashevsky Pereulok and Bolshoi Kozikhinsky.

The project, the cost of which developers Stroi Inkom and Peresvet Invest would not reveal, is to be completed by the end of next year. The apartments are estimated to start at $400,000.

Tatyana Dyachenko, head of Peresvet's elite housing ventures, said the development will occupy space previously occupied by two buildings. "The architects' design is like two buildings in one," Dyachenko said. "One is in typical turn-of-the-century Moscow style and the other a modern building.

The exterior of the central section, where the two buildings connect, will be covered in greenery. Dyachenko said the plants would probably not survive Moscow's winter and would have to be replanted each spring.

Architect Nikita Rybin, of private architectural firm Natal, which designed the estate development, said his company has plans to landscape a 900-square-meter green area directly across the street from the Estate on Patriarshiye's building.

The square would be surrounded by another building, which would also to be developed into elite housing but for which an investor has not yet been found, Dyachenko said.

Natal's proposal is for the square to have a formal garden with a maze and for creepers to hang in the planned building's arcades, in a continuation of the estate development's style. There could also be a cafe and small souvenir or flower shop next to the garden.

"Our main goal is to enhance the environment," he said. "It's no secret that in the center a lot of buildings are jammed together without any infrastructure to interest people in going for walks and relaxing."

The buildings that had been on the estate's site were not of historic interest, Rybin said. They had been cheaply built at the end of the 19th century as tenement housing when the area still had a reputation as being swampy and unsuitable for construction.

Natal was also responsible for Patriarch House, the bright-yellow apartment tower on the northern corner of Patriarch's Ponds.

Dyachenko said the estate's apartments would be marketed to both locals and foreigners.

The condominiums vary in size from 120 square meters to 200 square meters and will cost between $3,300 and $6,000 per square meter, she said. The estate will have two levels of underground parking for up to 56 cars.

There will be an enclosed garden in the seventh-floor penthouse and another one on the sixth floor, Dyachenko said.

Peresvet is also offering the services of Sergei Daonag, a feng shui practitioner who configures apartments to harmonize their spiritual forces.

Part of the investment contract requires that 40 percent of the project be surrendered to the Moscow city government.

"This obligation could be fulfilled by buying the apartments from City Hall or providing it with other apartments elsewhere. In six months, we will have decided what to do," Dyachenko said.

Nine elite residential developments are to be built in district No. 230 by the end of 2005, and Peresvet would like to participate in more projects in the neighborhood, she said.

"It's an historic part of Moscow. People are not afraid to live very close to one another," she said.

Peresvet has been on the market for more than eight years and has worked mainly as a developer for middle-class clients.

It has won a series of tenders with City Hall's department for construction investment programs to build apartments in the Marxistskaya-Taganskaya districts, the southwest of the city and near Sukharevskaya Ploshchad. It has also been active in trading completed real estate, Dyachenko said.

However, the estate project is the first project at the top end of the housing market.

Construction of the estate -- and five other apartment houses in district No. 230 that Stroi Inkom is involved in -- will be carried out by Strabag. The Austrian construction company has been in Moscow since 1992 and has completed a series of buildings, including one on Donskaya Ulitsa for the Central Bank, a banking complex on Lesnaya Ulitsa and the Nautilus shopping center on Lubyanskaya Ploshchad.

Philippe Bogdanoff, a partner at Kirsanova Realty, an affiliate of Sotheby's International Realty that specializes in the top end of the residential market, said the Patriarch's Ponds area is one of the most sought-after locations in Moscow. He said Patriarch House had been a very successful project.

"People are saying that Ostozhenka is No. 1," he said. "But I would say that Ostozhenka and Patriarshiye are almost the same."

"And there are more museums, more theaters -- there's the conservatory, all within walking distance. Ostozhenka is less developed because there are a lot of dilapidated old buildings that have been redeveloped," he said.

"I say they are equal, whatever people's preferences are."