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Business news, 05.09.2003 13:20

Russia and Germany to Join Forces and Renovate St. Petersburg Apartments

ST. PETERSBURG, September 5. A special German delegation is arriving in St. Petersburg on September 8 to discuss a joint program to renovate St. Petersburg apartment blocks popularly known as khrushchyovki. This was announced in a press conference on September 3 by City Building Committee Chairman Alexander Vakhmistrov.

Vakhmistrov said that at the present time the governments are working plans for a joint project to renovate the apartment blocks according to 'German methods.' One particular aspect of the plan calls for the apartments to be renovated without requiring residents to settle in new places. Germany will finance 70% of the renovation work, Russia 30%.

Khrushchyovki were built in Leningrad from 1958 to 1970, and today number more than 2.4 thousand buildings or 10% of the St. Petersburg housing market and 11% of the population.

News source: Rosbalt

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