The more than 220 million Euros investment of IULIUS in the proximity to Iulius Mall Timisoara is in full development and, in addition to the state-of-the-art office spaces or the new leisure areas it will create, the mixed-use project Openville will also lead to a highly necessary urban improvement in terms of road infrastructure. No matter if we talk about continuing the investments started by the city in the area (development of new vehicular axes, upgrading of the passage tunnels in the area, enlargement of some streets) or the private ones undertaken by IULIUS, they will all play an essential role in the provision of traffic decongestion and road accessibility of the entire downtown Timisoara.
The Iulius Mall area promises to be one of the most modern in Timisoara in terms of road infrastructure, and the first results in this respect will show as of this autumn. This is the time of completion of the upgrading of the four lane street behind the mall, as well as the multi-level parking lot in Openville. And this is only the start of the improvements: IULIUS will invest in an underground tunnel which will be connected to two of the major axes in Timisoara, and will fit other hundreds new parking spaces in an underground parking lot.
Fortunately, the projects are not just planned, as the Iulius Mall area is in full visible development. On the one hand, office buildings are being built, and as they are completed, they are immediately commissioned. On the other hand, works are being conducted for the upgrading of the streets, under-tunnels in the nearby area and the building of connections between the traffic axes. And all these have been made so far without disturbance to the regular business hours of the mall or the people in Timisoara working or going shopping in the area.
Underground tunnel providing traffic decongestion, built by the developers of Openville
In their turn, the Openville developers have taken additional actions so that the people in Timisoara visiting the area would not have to cope with the intensive works in the construction site, where the developers are building the „city of the future”. The areas where works are being executed have been separated by vegetation barriers and temporary access routes have been created for the trucks transporting goods. But, most importantly, the developers have provided the public with new parking spaces near the mall, as they started new constructions. Moreover, the developers are investing 11 million Euros in the first multi-level parking in Timisoara, featuring more than 900 spaces located on six levels. The construction pace is as intensive as that of the office premises, thus, the developers promise that the parking will be ready this autumn.
Together with the spaces already available in the underground parking lot of Iulius Mall Timisoara, those in the multi-level parking, as well as those to be fitted in a new underground parking lot, Openville will provide more than 4,050 parking spaces.
Public investments are another perk brought by Openville to Timisoara. More precisely, IULIUS will build an underground tunnel that will cross over the Openville mixed-use project, thus allowing for the creation of a direct connection between two of the most important vehicular axes in downtown Timisoara.
Openville will be a mostly pedestrian project, an environment friendly one due to the fact that the entire vehicular traffic will be made in the underground level. The tunnel will lead to the decongestion of the traffic, and will also allow for a pedestrian connection between Openville and the rest of the city. The investment cost will be covered by the developer and the investment will be used by the city.
The post See the upgrades brought by a real estate project in Timisoara to the infrastructure of the city! Underground tunnel, additional traffic lanes, thousands of parking spaces appeared first on Business Review.