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Corvin Promenade wins 2014 ULI Global Awards for Excellence

Futureal’s Corvin Promenade project wins one of the most prestigious real estate development awards in the world.

One of the biggest urban rehabilitation projects in Europe, Corvin Promenade has garnered yet another internationally recognized professional award: it has won the 2014 Global Awards for Excellence of the Urban Land Institute.

The ambitious concept of Corvin Promenade has created an unparalleled urban rehabilitation that has already been recognized by a number of professional organisations during the years. Among others, it has won the International Property Award for the “Best Mixed-use Real Estate Development project in Europe”, the Prix d’Excellence of FIABCI, and a part of the project, Corvin Plaza won the CIJ Award for the Best Commercial Real Estate Development project in Hungary, still in the year of its opening.

Corvin Promenade is the biggest urban rehabilitation project in downtown Budapest, a carefully designed quarter of the future in the heart of Budapest. There has been no project of this scale in the inner districts of Budapest since the construction of Andrássy Street completed in 1896. On about 22 hectares of the city section that underwent fully infrastructural, architectural and environmental reconstruction, high-quality residential, office, commercial, service and sports facilities have been created as a result of the exemplary cooperation between the 100% Hungarian-owned Futureal and the municipality of the Józsefváros District.

“The Corvin Promenade project was the first urban rehabilitation project in the district. The renewal of the Corvin Quarter has become one of the symbols of the reconstruction of the Józsefváros District. This project is one of the biggest and most complex urban rehabilitation programs in Central Europe that has created a new, modern and high-quality urban centre. Thanks to the excellent cooperation between the local municipality and Futureal Group, ca. 1,200 apartments, 50,000 sqm office space, more than 100 retail units, and the biggest sports centre in downtown have been created, and the surrounding streets have also been renewed. This project has strengthened the attractiveness of Józsefváros and improved its image, so it has deservedly earned yet another professional award.” – said the Mayor of Józsefváros, Dr. Máté Kocsis.

“We are proud that Corvin Promenade has won perhaps the most prestigious awards of the real estate industry. In cooperation with the district municipality, we created the vision of a liveable city quarter in 2004, where high-quality public transport and the widest range of services satisfy the needs of the residents, people working there as well as of visitors. A project of immense scale, it has started successfully and defied the international economic and real estate crisis. Thanks to the unique urban rehabilitation concept, Corvin Promenade was born and became the catalyst of the development of a whole district. All this was recognized by the Urban Land Institute with its ‘Global Awards for Excellence’ established in 1979.” – said Futureal’s founder, Mr. Gábor Futó.

“Professional recognition is important for us as it positions us on the market, but even more importantly it is the trust placed in us by those living, working or relaxing here that matters most. I feel deep satisfaction when I look out of my window and I see that the Corvin Promenade concept looked great not only on the drawing board but it does work in real life as well. The world-class design, the spacious green areas and the modern architectural solutions provide a state-of-the-art background for a stylish downtown life,” – said Futureal’s Chief Architect, Mr. Gábor Radványi.

ULI Global Awards for Excellence

The award ceremony of the ULI Global Awards for Excellence was held in New York on 22 October 2014. The award given to Corvin Promenade was received by Futureal’s Chief Architects Gábor Radványi and Gábor Kovács, and the project’s mastermind, urbanist György Alföldi (RÉV8 Zrt.).

The Urban Land Institute is a global nonprofit education and research institute supported by its members. Its mission is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. Established in 1936, the Institute has more than 32,000 members representing all aspects of land use and development disciplines. The 11-strong jury of the Institute has recognized the best achievements with the ULI Global Awards for Excellence for the 36th time this year. In selecting the winning projects, in addition to considering responsible land use, the evaluation criteria included the quality of architecture, the impact of the project on the environment, how the developers cooperated with local organizations and what alternative financing methods were applied.

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