Brief description of the project
Promprylad.Renovation is a revitalization project located on the premises of an old industrial plant in the center of Ivano-Frankivsk with an area of more than 40 000 m2. Focused on the new economy, urban design, contemporary art, and education to ensure the sustainable development of the region and the country. Designed as an impact-investment project, it applies a crowd investment approach and unites small, medium and large co-investors who contribute to social transformations in the region and get a return on investment in the form of dividend payouts.
As a business, Promprylad.Renovation is a multifunctional commercial property aimed to generate income from (1) renting office (37% of the center) and special purpose space; (2) hotel complex operations; (3) sales of tickets to events, short-term renting of exhibition and conference facilities; (4) operational project activities.
To sustain crosscutting synergy 30% of profit from the Promprylad.Renovation operations will be channeled into Promprylad Foundation. Its main focus are development projects in the sectors mentioned above (forecasted 3.7 million USD of total operational profit). 30% of the renovated space (~ 11000 m²) is allocated for non-for-profit social/ public functions.
To sustain crosscutting synergy 30% of profit from the Promprylad. Renovation operations will be channeled into Promprylad Foundation. Its main focus are development projects in the sectors mentioned above (forecasted 3.7 million USD of total operational profit). 30% of the renovated space (~ 11000 m²) is allocated for non-for-profit social/ public functions.
Brief Market Overview
There is a significant influx of both IDPs and businesses moving their fixed assets and workers to continue their operations. In particular, significant population growth is expected in Ivano-Frankivsk in the coming years.
We are already registering a lack of most types of real estate in the city: residential complexes, commercial real estate, office buildings, warehouses and industrial real estate.Therefore, there is a need to continue and even accelerate the implementation of the Promprylad.Renovation project, which will allow to partially satisfy the existing demand for these types of real estate in Ivano-Frankivsk, and thus allow companies to find a space for their operations, and people to find work and temporary housing. In addition, it can curb the outflow of people and companies abroad.
In addition to offices and commercial premises, the structure of Promprylad.Renovation provides for the allocation of about 30% of the area for the implementation of various social initiatives dealing with new economy and creative industries, innovation, modern education and art. Therefore, the project envisages the launch of a business
support center, business school and startup incubator, makerspace and R&D coworking, school of new professions, center for contemporary art, and urban laboratory. This combination of functions is designed to enhance entrepreneurial potential and create the necessary infrastructure for the development of creative and innovative businesses, education, art and urban planning, which is becoming increasingly important both in the current and postwar periods.
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