Back About the Corvin Promenade
Central Europe's largest urban regeneration project. The project has seen the renovation of a total of 22 hectares of land, with 2,700 new apartments, 130,000 m2 of office space and 50,000 m2 of commercial real estate. The commercial units are mainly located in the Corvin Plaza shopping mall, while the total value of the development stands at EUR 920 million.
The Corvin Promenade, designed by the renowned English landscape architect Robert Townsend, is an internationally recognised and award-winning location. In 2010, it won the award for the Best Mixed-Use Real Estate Project at the International Property Awards, as well as first place at the Real Estate Prix d’Excellence Awards for the Hungarian branch of FIABCI. In 2014, it won the Urban Land Institute (ULI) Global Award for Excellence, known as the Oscars of property development.
This joint project with the local government is thought to be the largest urban renewal project in Central and Eastern Europe. It is situated in an area that barely a decade and a half ago was characterised by poor quality, a low level of convenience and dilapidated housing, with the entire neighbourhood considered a disreputable and anonymous quarter.
The Corvin Promenade, the focal point of the revitalised Corvin Quarter,
is a clean, ordered and safe area, featuring restaurants with terraces, cafes and shops alongside human-centred spatial design solutions and green spaces. An environment has been created that is at the same time friendly and convenient and vibrant, full of life and totally liveable. A true city centre promenade and a paradise for pedestrians.
For the local residents, in addition to stops for the 4/6 tram route and Metro 3, the carefully designed local area offers a wide range of services to enjoy, making it one of the most popular meeting points in the entire city.
This new central location contains one of Europe’s most beautiful and well maintained building environments, offering a new quality of life for local residents and workers. Budapest’s widest promenade is surrounded by public spaces and interior courtyards, while all the cars are located in underground car parks so the pavements can be given over entirely to foot traffic.
The development in numbers
Renovated in the local area
1 400
- 46 buildings remaining in the area, containing 1,400 private and state-owned apartments;
- Práter Street School;
- Entire utility network;
- All of the streets in the area.
Created
20 000
- 20,000 m2 of new public spaces, including the promenade and parks complete with plant life, fountains and unique spatial architecture solutions;
- 2,700 new, contemporary apartments;
- Restaurants, pubs and smaller shops, a total of 20,000 m2;
- Corvin Plaza – four floors, across a total of 33,900 m2;
- Modern sports, fitness and wellness centre with exclusive swimming pool across nearly 3,000 m2;
- Category A office buildings;
- Approx. 5,000 new parking spaces.
Demolished
100
- 100 dilapidated, largely local government-owned apartments, replaced by the new promenade, giving new momentum and a new future to an entire city neighbourhood.
Corvin Promenade, a new Budapest icon
800-metre long pedestrianised walkway,
landscaped area 36 metres wide and 300 metres long
Fitness andhealth centre with swimming pool: 2 800 125 billion square meter
Newly built
apartments 2 700
125 billion
apartments
Corvin-
offices 130 000
125 billion
square meter
The development's key areas
The Corvin Promenade
The promenade lends its name to the revitalised urban neighbourhood and has become an iconic symbol of the link between the new public spaces and functional areas. Corvin Promenade is longer than Váci Street (800m) and wider than Liszt Ferenc Square (36m).
Newly built Cordia apartments
More than 2,700 new apartments, designed and equipped to meet all possible needs, have been built along the promenade and Nagytemplom Street. In the last ten years, the price per square metre for Corvin Promenade properties has doubled, with rental income significantly higher than for other properties in the local area.
Corvin Promenade’s glass-covered section, the shopping street
Supermarkets, fashion and sports clothing stores, technical stores, drug stores, dry cleaning, fast food restaurants, pharmacies, jewellers, hobby and toy stores, home furnishings, mobile phone shops, gift shops, boutiques, grocery and fruit shops all await visitors to Corvin Plaza.
Hospitality on the Corvin Promenade
Approximately 10,000 m2 of restaurants, pubs and smaller shops are situated on the ground floors of the Corvin Promenade residential buildings.
Corvin Sport and wellness
Adjacent to Corvin Promenade, sports enthusiasts can find one of Budapest’s most impressive sport, fitness and wellness centres, complete with a swimming pool and spread across more than 2,800 m2.
Corvin offices
The category A office buildings offer a total of 130,000 m2 of gross office space for tenants seeking the highest quality and best range of services.
Corvin Technology Park
A Corvin Technology Park – close to Klinikák – hosts companies and institutions involved in research and development across 30,000 m2 of space.
Underground car parks
Parking problems have been eliminated in the area, with nearly 2,500 new parking spaces in the underground car park and bicycle storage facilities for cyclists.
Prizes and awards
-
FIABCI Hungarian Real Estate Development Prix d’Excellence
-
European Commercial Real Estate Awards:
Europe’s Best Mixed-use Development
-
European Commercial Real Estate Awards:
Hungary’s Best Mixed-use Development
Award-winning buildings:
-
Corvin Plaza: Best Shopping Centre Development Award,
awarded by Central Europe’s most important real estate trade publication (CIJ)
-
Corvin One
BREEAM (in use) Good
-
Corvin Crystal Tower;
Corvin Garantiqua Tower;
Mediaworks Tower;
Corvin Panorama Tower– BREEAM
-
The Corvin Promenade – FIABCI Hungarian Property Development Prix d’Excellence:
Special projects category
-
The Corvin Promenade Phase 1 – FIABCI Hungarian Property Development Prix d’Excellence
-
International Quality Crown Award London
Award-winning buildings:
-
Corvin offices: New Office Building of the Year
iroda.hu/Közönségdíj
Corvin Corner
BREEAM Very Good
-
URBAN LAND INSTITUTE
-
Eb Ovo Prize
-
Corvin One
BREEM (in use) Good
-
Corvin Crystal Tower; Corvin Grantiqa Tower; Mediaworks Tower; Corvin Panorama Tower
Award-winning buildings:
-
Corvin Corner: Portfolio Property Awards
Project of the Year
-
Corvin Technology & Science Park: Portfolio Property Awards
Property Rental Deal of the Year
Award-winning buildings:
-
Corvin Corner: BÉK Architectural Prix d’Excellence
-
Cordia Park Residence: CIJ Award Hungary 2016: Best Residential Building Award
awarded by Central Europe’s most important real estate trade publication (CIJ)
Award-winning buildings:
-
Cordia Park Residence II. phase
Property Development of the Year, www.iroda.hu
-
Nokia Skypark: Property Awards
“Project of the year” – Portfolio
-
Nokia Skypark: FIABCI
Real Estate Development Award – “Office”, FIABCI Hungary
Skypark office
BREEAM Very Good
Award-winning buildings:
-
Grand Corvin by Cordia
Best Residential Property Development, Construction and Investment Journal (CIJ)
-
Nokia Skypark: FIABCI
World Silver Winner in Office Category – Word Prix d’Excellence Award, International Real Estate Federation
Award-winning buildings:
-
Corvin Technology Park: FIABCI
Winner of the office and sustainable development category, FIABCI Hungarian Prix D’Excellence
-
Corvin Innovation Campus
BREEAM Excellent – Design Stage, WELL Platinum – Design Stage -
Corvin Technology Park
BREEAM Very Good, WELL Platinum
Award-winning building:
-
Corvin Technology Park: BIG SEE architecture award
Public and commercial building category
Award-winning building:
-
Grand Corvin 2 by Cordia
Best Residential Development, Construction and Investment Journal (CIJ)
The architecture of the Corvin Promenade
Corvin Promenade is an urban regeneration project in the heart of Budapest that is unique in Europe. At the request of the Józsefváros Municipality, which initiated the project, sociologists, preservationists, environmentalists, transport developers and architects worked together to find a solution that would result in significant change to both the built environment and the quality of life in the district.
Pubic security and sanitation
The camera surveillance system was expanded and a local security service was established.
In line with EU standards, the Corvin Promenade is home to several selective waste collection islands, as well as numerous public litter and dog litter bins.
One of the key tasks of taking care of the public areas of the quarter is to ensure the cleanliness of the streets.
