SPEEDWELL, the real estate developer, has received the building permit for Phase 1 of the PALTIM project. The first phase will feature 123 apartments out of a total of 236. Construction works will soon kick-off.
SPEEDWELL’s first project in the city of Timisoara, PALTIM, a mixed-use ensemble built around the Transit-Oriented Development concept, combines premium apartments, office and retail spaces, as well as two historical buildings that are going to be refurbished.
Phase 1 of the project features an apartment building with a 2S+P+6+7R height regime, comprising 123 units, from studios to 2, 3, and 4-room apartments, estimated to be delivered in the spring of 2024. The second phase will add another 113 apartments, reaching a total of 236 units in the project.
The PALTIM ensemble is located close to the Bega River, near Central Park and within walking distance of the city centre. Future residents will benefit from easy access to the main points of interest, as well as a short commute to any destination within the city.
SPEEDWELL will conserve the historical and cultural heritage of the site by refurbishing a monument villa and a section of the former hat factory, this also being an urban regeneration project. Through PALTIM, SPEEDWELL aims to reinvent modern urban living and give back to the city’s residents an important historical spot.
Sustainability is another important aspect of this development. Therefore, PALTIM will be built respecting the nZEB standards, using superior quality materials for thermal insulation, as well as renewable energy systems. Moreover, the office component of the project has been designed to obtain the BREEAM Excellent certification.
Since launching sales, in October 2021, approximately 50 percent of the available stock of apartments has been sold.
“The much-awaited moment by SPEEDWELL and those that have chosen to trust our concept has arrived. We are happy to announce having received the building permit for Phase 1 of the project, an important milestone for PALTIM. On this occasion, we would like to reiterate our intention of actively contributing to being part of the process of shaping Timisoara’s urban landscape. We are certain the city’s inhabitants will benefit from our project as a new community will form here, while also contributing to the growth of this area,” said Jan Demeyere, Architect and Co-Founder at SPEEDWELL.