The LOFT.FM site will receive the status of land designated for hotel services


Urban Planning and Land Commission of Moscow has approved the change of permitted use of the land plot the LOFT.FM apart-complex occupies, to "hotel service".Relevant changes will be made to land use and development rules, Moscomstroyinvest informs

LOFT.FM is a business-class apartment complex project implemented in the building of the former Moscow Institute of Radiocommunications in the Central Administrative District of Moscow. The complex, built in 1956, underwent major renovation work with the fee-development assistance by COLDY. Previously, the site on which the project is located had the status of administrative land. As soon as changes are made to the land use and development rules, property tax will be reduced to 0.5% for owners of apartments in LOFT.FM.

Changing the type of permitted use of the land plot on which LOFT.FM is built is a logical step in the interests of the owners of our apartments and it contributes to increasing the liquidity of their investments. Despite the fact that current legislation does not restrict non-residential premises owners by permitted types of operation, the change of land use is an economic guarantee of sustainable profitability in the implementation of investment projects of apartment owners in LOFT.FM.

COLDY Marketing Director Elena Dalinger clarifies.

Changing the type of permitted use of the land plot of the implemented project is an important step on the way to creating conditions for sustainable development of territories.