A hundred billion awakening from the dream of Dürer Park.
The realization of the mega-project on the former entertainment venue, Dürer Kert, is in full swing in the capital. The cost of the Dürer Park investment could reach up to 100 billion forints. In line with today's sustainability requirements, green environment office buildings and residential properties are being created on the other side of City Park. Exciting "treasures" were discovered during the demolition works, preserving historical parts of the over 100-year-old building, as the area is expected to take on a modern look in about three years.
Previously, it hosted various events including concerts by Quimby and hundreds of international and domestic performers. Numerous friendly gatherings were also held at Dürer Kert. The iconic entertainment venue opened its doors to the public in 2008 but was closed due to the coronavirus pandemic in 2020. The reopening at the original location proved short-lived as the investment firm that purchased the site embarked on a radically different project from the previous one.
History Lesson
The building complex at Ajtósi Dürer sor 19-21 takes on a completely new, almost futuristic appearance, with some classical elements. It's in dire need of a facelift, as neither the building nor the park area has undergone maintenance in recent decades.
The area boasts a rich history. In 1875, the elderly statesman Deák Ferenc spent his last summer in one of the former holiday homes on the grounds of Dürer Kert, as evidenced by a plaque on the wall of the building complex. In 1883, the building came into the possession of the Sisters of the Sacred Heart, who established a Catholic girls' school alongside the purchase of adjacent plots of land. Thus, by 1884-85, the convent building was erected, which was later expanded to accommodate boys as well. During World War II, the sisters sheltered numerous refugees, Jews, and escapees within the school's walls, allowing them to survive the tribulations of the global conflict. Under the Rákosi regime, like many other religious institutions, it fell victim to nationalization, and the members of the order were not treated with kid gloves. Many were persecuted, while others were deported to Austria or France.
Subsequently, the building complex continued to function as a school for training communist party politicians until 1956. Following the outbreak of the revolution and the fight for freedom, the property was taken over by the Hungarian Socialist Workers' Party (MSZMP) led by János Kádár, still operating as a political college until 1990. During the communist era, the original values of the building were unjustly neglected; ornaments and memorials alluding to the Catholic heritage were destroyed, the roof was demolished, and a "architecturally worthless roof" was erected in its place. After the regime change, the political college ceased to exist, but the area remained state-owned. Initially, Eötvös Loránd University (ELTE) took over the operation of the area. Finally, around 2006-2007, the building complex was privatized by the government of the time, falling into the hands of an Israeli investment group, which, however, withdrew from the developments due to the global financial crisis of 2008-2009. Thus, a temporary utilization began, during which Dürer Kert, an entertainment venue, moved in, occupying the lower level and the garden area, while the rest of the building was leased out to various companies and individuals.
After embedding the area in its historical context, let's take a look at the investments taking place in the heart of Zugló.
New-generation, environmentally friendly residential and office buildings are being erected, and a new inner park is also being created
– said Szilágyi István, the CEO of Dürer Investment Ltd., to Index.
Within the Városliget, a quality transformation is already underway as part of the Liget Project, and the Dürer Park Project is being added to this, as outlined by the CEO. Their goal was to ensure the preservation and dignified relocation of Dürer Kert, and they have also reached fair agreements with the other tenants. Finally, with the help of investors, Dürer Kert has anchored in the BudaPart district in Újbuda, near Kopaszi-gát.
Construction of the office buildings is already underway by Market Construction Ltd., but the residential buildings have not yet begun; they are currently finalizing the plans. As part of the project, 208 high-end apartments are being built, considering their design, size, and material usage, in "the sought-after Zugló area" – said Szilágyi István. The current weakness of the real estate market plays a role in the later scheduling.
Szilágyi István pointed out that the old convent building is not considered a monument. Currently, it is under the protection of the city of Budapest, meaning that primarily the facade of the building must be preserved, considering the requirements of the uniform urban landscape – he indicated. In addition to the expected attention, the developer strives to save everything salvageable, involving an art historian to identify the values. Taking all this into account, the second office building will essentially be a hybrid structure, where modernity surrounds the classical part of the building. They will preserve the old building's facade elements, while inside, they will create a vast atrium, which will serve as the connection point between the old and the new building sections.
The total investment budget could reach up to 100 billion forints.
The CEO reported that the project was first hindered by transportation difficulties due to the coronavirus pandemic, drastic increases in material costs, followed by the surge in energy prices due to the outbreak of the Russo-Ukrainian war, and the weakening of the forint against the euro.
The larger office building is expected to be completed by the second half of 2024, the second building by the end of 2024, while the residential properties may be finished by the end of 2025 or early 2026. The renovation of the road network is expected to be completed by the end of this year or the beginning of next year.
The contractors have reached an agreement with the local government of Zugló that, as part of the project, approximately one billion forints will be allocated to renew about 300 meters of the Ajtósi Dürer street and nearly 100 meters of the Zichy Géza street. "We are implementing the infrastructural investments entirely from our own resources, but the local municipality owns the affected public areas, and the permits were issued by Budapest Közút. This is a win-win situation. We hope that the capital will continue the upper section up to Hungária körút and the lower section up to Dózsa György út," added the CEO.
The public infrastructure renewal program encompasses the following developments:
Ajtósi Dürer street:
- The Ajtósi Dürer street will receive a completely new track structure spanning 300 meters, new sidewalk pavement, and the creation of a central greenbelt, with a focus on increasing green areas.
- The overhead lighting and trolleybus network will also be renewed with the installation of over 30 new poles and modernization.
Zichy Géza street and Abonyi street:
- The first 100 meters of the Zichy Géza street from the Ajtósi Dürer street side will have new asphalt pavement, and a two-way traffic arrangement will be established. Additionally, the even side of Zichy Géza street will receive new sidewalk pavement.
- The even side of Abonyi street will also receive new sidewalk pavement, spanning approximately 220 meters to the Szent István High School.
The local government of Zugló has long desired to create a passage from the area adjacent to Abonyi street towards Városliget (City Park). "We have entered into a servitude agreement with the district leadership to create a passable promenade, through which residents can access Városliget on foot, by bicycle, or by scooter through the Dürer Park," said Szilágyi István, emphasizing the importance of "opening up the area for residents, indicating the intention of the complex to integrate into the fabric of the neighborhood."
The Property Developer's intention is to preserve the chapel of the former monastery (the main stage of Dürer Kert was located at the bottom of the chapel), and the project will feature a memorial to the younger Albrecht Dürer, the painter and one of the street's namesakes, in the form of a carved stone cube. During the demolition work, they found the foundation stone of the building, a German-language newspaper dated 1893, and a time capsule containing old coins. These will also be exhibited in the building.
The inevitable political side effect
Being in Hungary, the contractors of the project couldn't avoid finding themselves amidst political disputes. The stamp of the NER (National Cooperation System) was immediately associated with the Dürer Park project, thanks to the fact that the investment is being carried out by Market Zrt., which often prevails in state investment tenders.
The project was also criticized because private interests took precedence over the previously planned, publicly beneficial expansion of the City Park. The Dürer Park real estate development was declared a project of national economic significance in November 2021. The decree overrode the District Building Regulations of Zugló and established new parameters, essentially eliminating any obstacles in the way of the investment.
Szilágyi István stated: there's no political, only urban development matter.
We are doing professional work during the investment, and for us, this is the only aspect that matters. There is a neglected area that we want to utilize to the best of our ability. It is also important for us to maintain good relations with the Capital and the district. We have entered into a so-called urban development agreement with the local government of Zugló, in which we have defined the financial structure and the exact developments we will implement.
– emphasized the CEO, who pointed out that the municipal council unanimously approved the investment.
Dürer Park Project
The preparation of the Dürer Park real estate development started in 2018 in Zugló, on Ajtósi Dürer street, and the construction works began in the summer of 2020. The new generation complex – consisting of two office buildings and three residential buildings – will be realized in a preserved, rejuvenated green environment, on 3.7 hectares, with completion scheduled for 2024-25. The Dürer Investment Ltd., established in 2017 by investment funds specifically for the realization of the Dürer Park project, is carrying out the real estate development in cooperation with Property Market Ltd. The concept creation for the heart of Zugló was made by the Milan-based Lissoni & Partners Studio, architectural solutions were provided by Avant-Garde Architectural Studio, and the general planning tasks are handled by Lean Tech Engineering Office. The general contractor for the office buildings is Market Construction Ltd.