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Rental housing construction

  • Investment volume:

    2.1 billion RUB

  • Project Initiator:

    Government of the Magadan Region

  • Location:

    Development of the Gorokhovoye Field Territory

Realization of rental housing in Magadan

Magadan urgently needs advanced and high-quality rental facilities, since the rental fund is represented by secondary housing, built mainly in the 1970-1980s. Comfort (midscale) and premium (upscale) hotels, as well as high-quality rental housing are a vacant niche in the market.

The project envisages the construction of rental housing on the territory of the Gorokhovoye field.

Currently, the Magadan Region receives specialists from medical and pedagogical institutions, other specialties, as well as executive authorities. The region rents more than 400 apartments on the secondary market to accommodate visiting specialists.

In addition, mechanisms are currently being worked out at the federal level to address the issue of resettlement of dwellers of emergency housing, recognized as such after January 1, 2017, and rundown housing through the development of the affordable rental housing market.

Funding sources:

  • project implementation period - 2.5 years (Q1 2023); 
  • Gross investment volume - 2.1 billion RUB.

Project parameters:

  • Land plot area - 2.4 ha;
  • Building area within the dimensions of the outer walls - 24,000 sqm;
  • Total apartment space - 17,310 sqm
  • Number of apartments - 378;
  • Average monthly occupancy rate - 95%
  • 25 new jobs;
  • Increase in tax revenues for the treasury of the Magadan Region.

Project participants:

Government of the Magadan Region; Magadan Region Development Corporation; The Far East and Arctic Development Fund (FEADF); Bank DOM.RF or Sberbank

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