SPEEDWELL Development is preparing the final phase of PALTIM, its mixed-use urban regeneration project on the banks of the Bega River in Timișoara, following the approval of the revised Zonal Urban Plan (PUZ) and the issuance of the Urban Planning Certificate.
Investment in the new building, which will complete the existing development with approximately 108 new apartments and around 1,200 sqm of retail and service areas, totalling approximately €24 million. This new development will contribute to the expansion of green spaces and pedestrian areas, which are defining elements of the PALTIM concept and key to the quality of the entire complex.
“With this final phase, we are completing the vision we established for PALTIM from the beginning: creating much more than a collection of residential buildings. Today’s buyers increasingly look at the entire environment around their home: from greenery, integrated services, and architecture to walkability and the quality of the spaces they use every day. This new building continues all these elements while adding a diverse residential offer for different lifestyles and stages of life,” said Mădălina Arsene, Sales Director, SPEEDWELL Development
The initial concept for this final phase also included an office component. As the local market evolved, SPEEDWELL adjusted the functional mix to better reflect current demand in Timișoara. With demand for new office space becoming more selective and interest in high-quality residential properties remaining solid, the office component was converted into residential use, while maintaining a significant commercial ground floor.
“The commercial mix at PALTIM has developed around a very clear idea: bringing together functions that genuinely improve everyday life. Fitness, coffee and an increasingly strong medical and wellbeing component have already created a distinctive identity for the project. The additional 1,200 sqm allows us to complete this ecosystem in a balanced way, with food & beverage and useful everyday services that naturally complement what is already here and make the neighbourhood even more attractive for residents and the wider community,” said Maria Jianu, Leasing Director at SPEEDWELL Development.
Developed on the site of the former PALTIM hat factory, close to the Bega River, Central Park and Timișoara’s historic centre, PALTIM combines contemporary residential living, green spaces, useful everyday services and restored industrial heritage.
