The project to build a residential and public centre Yantarny Gorod (Amber City) in the Sovetsky District of Volgograd began in the forth quarter of 2009. Sixteen residential blocks will be built with a total number of 2,415 flats (and a total floor space of 152,194 square metres).
Under the plan, land will be allocated for the construction of a childcare centre for 215 children, a service building, retail outlets and underground parking.
The builder is the Volgograd Reinforced Concrete Factory No.1 and Volgostroyinvest (a subsidiary company which sells apartments paid for by the budget).
Stages of construction:
First stage: 6 blocks of flats (878 flats, total floor space 55,180 sq m), scheduled to be available forth quarter of 2010;
Second stage: two residential blocks (293 flats, 18,442 sq m), to be made available third quarter of 2011;
Third stage: 8 residential blocks (1,174 flats, 74,381 sq m), to be made available in 2011-2012.
Under the contracts signed, 738 flats (with the total area of 46,164 sq m) built at the first phase will be handed over to the Defence Ministry of the Russian Federation.