Protecting and regenerating abandoned historic landmarks is part of a comprehensive sustainability strategy that One United Properties began implementing in 2021, following its decision to join the UN Global Compact project, the world's largest sustainability initiative.
Thus, One United Properties recently announced the acquisition of a historic building located in the center of Bucharest, the former Ford factory. The developer estimates significant investments over the next two years for the restoration of the building, in order to protect and regenerate the cultural heritage of the Romanian capital.
The building was the first Ford factory with an operational assembly line in Eastern Europe. The land on which the factory was built was purchased in the early 1930s by Henry Ford himself.
Following a site visit, Wall-Street.ro published an extensive article about the Ford Hall, the spearhead of industrialization in the interwar period, and One United Properties' plans to bring it back to life. The publication also took a series of exclusive photos of the hall.
"The developer intends to completely restore the factory and transform it into a retail space, an integral part of the development of One Floreasca City. The commercial space in the former Ford hall will house high-end shops and restaurants with large terraces, distributed in the space of 6 meters high on the ground floor and first floor. The gross development value of the project at completion is estimated at 82 million euros, but One United's efforts could easily exceed that value. At least from what we were able to see”,
notes the Wall Street publication.
