Iulius and Atterbury Europe have begun construction on Rivus Cluj-Napoca, Romania's largest urban reconversion real estate development.
The project involves transforming 14 hectares of brownfield land into a regional urban destination with an investment of more than €550 million.
Rivus Cluj-Napoca is converting the former Carbochim industrial platform into a mixed-use complex featuring cultural, educational, entertainment, office, retail, park and outdoor leisure spaces. The concept was designed with international architecture firm UNStudio and emphasises sustainability, integration, community and local identity.
The project will feature 142,000 sqm of leasable retail area, across more than 400 stores, with more than 70% already pre-leased. The development also includes reconversion of two industrial heritage buildings for cultural and public use.
"Rivus was designed as a mixed-use project, navigating around three essential directions: nature, culture, and family-oriented entertainment solutions," said Sorin Guttman, Rivus Project Manager. "The project will give back to the city what has been previously a publicly inaccessible area, integrating it naturally in the urban structure and routes of Cluj City."
The project secured Romania's largest green syndicated loan for real estate development at €400 million from Erste Bank, BCR, EBRD and BRD. The financing is conditional upon achieving LEED Platinum and EDGE Advanced standards.
Rivus will include 52,000 sqm of landscaped green spaces with 700 mature trees and over 100,000 decorative plants, connecting to nearby Feroviarilor Park and Armătura Park. The development also includes infrastructure improvements such as a four-lane road bridge across Someș River and upgraded perimetral streets.
