Last updated: October 2021
The Park Apartments is a complex of block buildings which incorporates a green concept, such as an interior garden and balcony gardens, erected to create a space where architectural norms combine with environmental regulations and together deliver an oasis of peace in a crowded city, using holistic measures (1)
Panoramic view of the apartments
https://korter.ro/the-park-apartments-bucure%C8%99ti
Overview
Nature-based solution
- Nature on buildings (external)
- Green walls or facades
- Balcony greens
Key challenges
- Climate action for adaptation, resilience and mitigation (SDG 13)
- Climate change adaptation
- Green space, habitats and biodiversity (SDG 15)
- Green space creation and/or management
- Environmental quality
- Air quality improvement
- Noise reduction
- Social justice, cohesion and equity (SDG 10)
- Social cohesion
- Economic development and employment (SDG 8)
- Real estate development
Focus
Creation of new green areas
Project objectives
1. To reduce the deadening effect caused due to urban noises (1);
2. To increase the insulating property of the walls (1);
3. To improve air quality and health (2);
4. To increase the aesthetics of the space (2);
5. The green balconies provide tangible relief from high solar radiation that is radiated from the building surfaces and streets. This would give a calming effect to the urbanites. (2);
6. To increase the value of the property (2);
7. To revive the sense and spirit of community (3).
Implementation activities
There is not accessible information about the implementation activities since the project is very new.
Climate-focused activities
Climate change adaptation:
- Implement green walls or roofs to lower indoor temperature and provide insulation
Main beneficiaries
- Private sector/Corporate/Company
- Citizens or community groups
- Young people and children
Governance
Management set-up
- Led by non-government actors
Type of initiating organisation
- Private sector/corporate actor/company
Participatory approaches/ community involvement
- Unknown
Details on the roles of the organisations involved in the project
The Park Apartments, one of the most advanced energy efficiency projects, is the first 100% development by Lithuanian company Hanner in Romania (3)
Project implemented in response to ...
... an EU policy or strategy?
No
... a national policy or strategy?
No
... a local policy or strategy?
No
Financing
Total cost
€500,000 - €2,000,000
Source(s) of funding
- Corporate investment
Type of funding
- Direct funding (grants, subsidies, or self-financed projects by private entities)
Non-financial contribution
No
Impacts and Monitoring
Environmental impacts
- Unknown
Economic impacts
- Increased property prices
Socio-cultural impacts
- Unknown
Type of reported impacts
No impacts reported
Presence of formal monitoring system
Unknown
Presence of indicators used in reporting
No evidence in public records
Presence of monitoring/ evaluation reports
No evidence in public records
Availability of a web-based monitoring tool
No evidence in public records
References
1. The Park Apartments, The Project (2017),( Website not availble in 2020)
2. Hanner Lithuania, (2014), Available at Source link, (Accessed 22-8-2020)
3. Economica (2016), Dezvoltatorul lituanian Hanner a vândut apartamente de 10 milioane de euro în 2015, Available at Source link (Accessed 22-8-2020)
4. Hanner, Nobles Hill, (2013), Available at Source link (Accessed 22-8-2020)
2. Hanner Lithuania, (2014), Available at Source link, (Accessed 22-8-2020)
3. Economica (2016), Dezvoltatorul lituanian Hanner a vândut apartamente de 10 milioane de euro în 2015, Available at Source link (Accessed 22-8-2020)
4. Hanner, Nobles Hill, (2013), Available at Source link (Accessed 22-8-2020)
View of the green balconies
https://korter.ro/the-park-apartments-bucure%C8%99ti