RENOVA-StroyGroup decided to change the business plan and strategy of residential construction in Yaroslavl.

According to Russian President Dmitry Medvedev, housing affordability, restoration of the socially reasonable balance of people’s income, construction costs and housing price are top priorities in housing policies. The problem of insufficient housing for low income citizens has not been properly addressed.

To make apartments more affordable, RENOVA StroyGroup decided to change the business plan and strategy of residential construction in Yaroslavl. The company intends to change the design project of a new residential building of the second construction stage at Yablonevy Posad.

The architectural and planning concept of the new building provides for studio apartments of 30 sq.m. (from 28.5 to 33.93 sq.m.), two-room apartments – 50 sq.m. (from 48.98 to 51.31 sq.m.) and three-room apartments from 65 sq.m.

RENOVA StroyGroup endeavors to take customers’ needs into consideration and increase housing affordability by reducing its cost.

Similar social housing projects are typical in Europe. They are realized within government programs for promoting housing construction for low income families and young people.

RENOVA-StroyGroup’s priorities for developing an affordable housing market and creating comfortable residential conditions define the social aspect of its activities. Earlier the company participated in a three-year program for completing unfinished development projects in the Moscow Area. RENOVA-StroyGroup assumed responsibility for finishing residential houses in the cities of Ivanteyevka, Losino-Petrovsky and Zheleznodorozhny, and provided 700 apartments free of charge to people who participated in shared financing and suffered from actions of unscrupulous developers.

From June 2006 through October 2009, six hi-rise buildings with the total area of 80 thousand sq.m. were completed and commissioned. The Company’s expenses for restoring the rights of interest-holders totaled 3 billion rubles.

In October 2009 the Company performed all its assumed duties.



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