Budapest, district 16
The development comprises 3 buildings, A, B, & C. Building A makes up circa 50% of the units and comprises Phase 1 of the project while buildings B & C make up the remainder and comprise Phase 2 of the project. All buildings have a ground floor plus 3 additional floors. A total of 340 parking spaces are apportioned between underground basement level parking and outdoor surface level parking in the ratio of circa 70/30.
The project is unique in that it is located on a very peaceful greenbelt area and is perched on a 170m hill, with views towards the River Danube and the Buda Hill. Also, the site is surrounded by relatively expensive villa housing and an upmarket neighbourhood. There are several comparable projects in the vicinity, which serve to highlight the relative quality of Elephant's product delivery in the current climate of Budapest's residential development market. The project has garnered praise from local critics and architects for the similarity of the delivered product to the pre-build computer generated images used by Elephant in the off-plan marketing of the project. The project is practically 100% sold and has proven to be a success not only in the homebuyer market, but also in the rental market.
Construction Schedule, building A: Start Q4 2004, Handed over Q2 2006.
Construction Schedule, buildings B & C: Start Q2 2005, Handed over Q4 2006.