IULIUS and Atterbury Europe have started construction on RIVUS

RIVUS Cluj-Napoca, the project developed by IULIUS and Atterbury Europe, is entering the implementation phase. With an investment estimated upwards of half-billion Euro, this is the most extensive real-estate development underway in Romania. The endeavor is transforming Carbochim, the former industrial platform now relocated and upgraded, into a landmark destination with a mix of uses customized to the dynamics of Cluj-Napoca City: cultural, educational, entertainment, office, retail, park, and outdoor leisure spaces. The concept was designed together with the notorious international architecture firm UNStudio, and emphasizes sustainability, fluid integration, community and local identity.

• Reconversion of two industrial heritage buildings and integrating them in the cultural and public circuit.
• Largest leasable retail area – 142,000 sqm, with more than 70% thereof already pre-leased.
• 400-plus stores, national and regional premieres, concepts highly anticipated by the community: Cineplexx (including IMAX technology and outdoor cinema), JUMBO, Hype by Kiddo entertainment concept, the largest Cărturești concept-bookstore, Auchan hypermarket, etc.
• Cultural and entertainment hub for all ages, with regional impact.
• The largest green syndicated loan granted to a real-estate development in Romania – 400 million Euro, conditional upon the LEED Platinum and EDGE Advanced standards.
• Providing accessibility to the Someș riverfront, adjacent to the project, for the community, including via a green connection with the nearby parks (Feroviarilor Park and Armătura Park).
• A new park spanning 52,000 sqm, with 700 mature trees, more than 100,000 decorative plants, green roof and green façades.
• Implementing the mobility strategy – four lane road bridge and two pedestrian walkways across Someș, upgraded perimetral streets, etc.
• 7 million Euro – investment in relocating and upgrading Carbochim factory.

RIVUS Cluj-Napoca entails the reconversion of an underutilized former industrial platform into an integrated mixed-use complex, open to the community and focusing on cultural, green, office, retail and entertainment uses. Designed as a socioeconomic development hub for Cluj-Napoca, the project supports key directions in the city’s urban strategy, including the consolidation of the green-blue corridor by landscaping the Someș riverfront and making it accessible.

Last year, this project was the beneficiary of the largest financing contract granted to a real-estate development in Romania, in the amount of 400 million Euro. Structured as a syndicated green loan between Erste Bank (Lead Arranger), BCR, EBRD and BRD, the financing is conditional upon the achievement and maintenance of the highest international sustainability standards (LEED Platinum and EDGE Advanced) and covers the entire investment cycle, from development and operation to refinancing. The concept for this project was developed in collaboration with the prestigious international architecture firm UNStudio and is based on in-depth market analyses and an extensive community consultation process, so it strategically caters to the public’s expectations for the mix of uses and the urban experience provided.

“RIVUS was designed as a mixed-use project, navigating around three essential directions: nature, culture, and family-oriented entertainment solutions. 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 concept being tailored to the residents’ expectations and to the needs and development goals of the city, as well as the expertise and partnerships consolidated by IULIUS during its 25 years of business operation in the market, are the main aspects that gained the trust of our lenders and partners in this project. We are building a landmark project for the Romanian real-estate market, that draws significant interest from retailers, as evidenced by our lease occupancy ratio that is already upwards of 70%, which to us is a clear indicator of market confidence in the concept and its long-term potential. We are confident that RIVUS Cluj-Napoca will be a landmark for urban regeneration nationwide and beyond, a complex with an identity of its own, built together with and for the community, designed to be an active part of the city, and steadfastly focused on the future,” said Sorin Guttman, RIVUS project Manager.

The most extensive urban lifestyle destination in Romania

RIVUS Cluj-Napoca will be the most extensive lifestyle center in Romania and a major hub for the entertainment segment nationwide. The project will feature more than 400 stores and a total leasable retail area spanning 142,000 sqm, in a complete mix of fashion, beauty, sports, jewelry, health & wellness, services, food & beverages, home & deco, entertainment, educational and cultural uses, etc. RIVUS will bring regional and national premieres to Cluj, including the most highly anticipated brands as indicated by the market studies conducted in the region: JUMBO, the IMAX technology introduced by Cineplexx for the first time in the region, the largest Cărturești concept-bookstore, HYPE by Kiddo’s entertainment center for all ages, Auchan hypermarket. The offer will be complemented by concepts developed by local entrepreneurs, which will represent more than 20% of the mix. Furthermore, the gastronomic scene will feature approximately 30 concept-restaurants and themed coffee shops, including notorious international brands, as well as national concepts.

The cultural component marks a strategic pillar of this project, by reconverting two industrial heritage buildings and integrating them in the public circuit. The former furnace hall, namely the Arcade Hall, will be transformed into a live arts center, operated in partnership with the local cultural community, while the former red brick façade administrative building, an icon of the industrial history of the area, will continue to accommodate administrative and public service uses.

A new green urban hub, supported by efficient integrated mobility

A defining element of the project is the green component, a hallmark of IULIUS’ urban regeneration projects. RIVUS will integrate 52,000 sqm of landscaped green spaces, directly connected to Feroviarilor Park and Armătura Park, contributing toward the expansion and consolidation of the green infrastructure in the area up to a total area of 140,000 sqm. The landscaping concept integrates a roof garden and green façades, as well as the planting of more than 100,000 decorative plants and 700 mature trees, with the latter currently acclimating in a nursery accommodated by the Cluj-Napoca University of Agricultural Sciences and Veterinary Medicine (USAMV Cluj), so that the project offers a high level of environmental comfort from the very first day of operation.

The project will be sustainable down to the smallest details: nZEB building development, design showcasing and securing a connection with Someș River, using natural materials, maximizing natural lighting levels in indoor spaces, as well as energy efficiency, infrastructure conducive to environmentally friendly transportation, alleys that allow for water circulation, landscaping geared towards supporting biodiversity, renewable energy production, etc.

The project enjoys a strategic position, with regional accessibility and direct connectivity to the existing urban grid, and the investments undertaken by IULIUS in the agreement signed with the Municipality will substantially contribute in upgrading the mobility infrastructure in the area. The list of works thereunder features the building of a new road bridge across Someș River, including four lanes, sidewalks and bicycle lanes, two pedestrian walkways, upgrading Porțelanului Street and Câmpul Pâinii Street, the development of approximately 3,200 meters of bicycle infrastructure, as well as the fitting of up to 4,800 parking spaces (of which 900 will feature electric vehicle charging stations) and 1,600 bicycle parking spaces.

The urban regeneration process was supported by an investment upwards of 7 million Euro in the relocation and upgrading of Carbochim factory, an essential step to continuing the manufacturing activity, which is a rarity in the local real-estate industry. The factory is still operating today, retained its employees, and conducts its business in substantially improved technological and operating conditions, which further emphasizes the responsibility and sustainability of the entire undertaking.

Discover the largest urban reconversion project in Romania its social media platforms at www.instagram.com/rivuscluj and www.facebook.com/rivuscluj.