Palace District in Józsefváros to Be Renovated

The former ‘exclusive magnate quarter’ in the center of Budapest, namely the Palace District in the 8th District known as Józsefváros will be renewed by the summer 2011.

The former ‘exclusive magnate quarter’ in the center of Budapest, namely the Palace District in the 8th District known as Józsefváros will be renewed by the summer 2011 with the help of EU funding amounting to nearly HUF 900 million within the framework of an investment costing over a total of HUF 1.6 billion to complete.
This investment not only paves the way to the renewal of the eclectic Art Nouveau buildings and public spaces in this district, but will also fill the heart of Józsefváros with new life.
Urban rehabilitation programs are prioritized as regards making use of resources granted by the European Union. A total of HUF 24.5 billion was allocated for urban rehabilitation programmes over the 2004-2006 period within the framework of the National Development Plan, whilst, within the framework of the New Hungary Development Plan, a total of HUF 270 billion has been made available for implementing urban rehabilitation projects over the 2007-2013 period.
 

News Monitoring