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SPEEDWELL, the real estate developer, has received the building permit for Phase 1 of the PALTIM project. The first phase will include 123 apartments out of a total of 236. Construction work will start soon.

SPEEDWELL’s first project in the city of Timisoara, PALTIM, a mixed-use complex built around the concept of transit-oriented development, combines high-end apartments, offices and commercial spaces, as well as two historic buildings that are going to be renovated.

Phase 1 of the project includes an apartment building with a 2S + P + 6 + 7R height regime, consisting of 123 units, from studios to 2, 3 and 4-room apartments, with delivery scheduled for spring 2024. The second phase will add 113 additional apartments, reaching the project’s total of 236 units.

The PALTIM complex is located near the Bega River, near Central Park and within walking distance of the city center. Future residents will benefit from easy access to major points of interest, as well as a short commute to any destination in the city.

SPEEDWELL will preserve the historical and cultural heritage of the site by rehabilitating a monument villa and part of the old hat factory, which is also an urban regeneration project. Through PALTIM, SPEEDWELL aims to reinvent modern urban life and give back to the inhabitants of the city an important historical place.

Sustainability is another important aspect of this development. Therefore, PALTIM will be built respecting nZEB standards, using top quality materials for thermal insulation, as well as renewable energy systems. In addition, the office part of the project has been designed to achieve BREEAM Excellent certification.

Since the launch of sales in October 2021, approximately 50% of the available stock of apartments has been sold.

„The moment long awaited by SPEEDWELL and those who have chosen to trust our concept has arrived. We are pleased to announce that we have received planning permission for Phase 1 of the project, an important milestone for PALTIM. On this occasion, we would like to reiterate our intention to actively contribute to being part of the process of shaping the urban landscape of Timisoara. We are sure that the inhabitants of the city will benefit from our project because a new community will form here, while contributing to the growth of this district. says Jan Demeyere, architect and co-founder of SPEEDWELL.