The pilot concession project for the construction of an underground parking on Petrushevych square is being prepared
13 Dec 2022

We have some good news about preparing the pioneering project of public-private partnership (PPP) in Lviv on the construction of an underground parking on Petrushevycha Square:
– The preparation of a technical and economic assessment of the project is completed.
– Conclusion on the feasibility of the project implementation is approved .

Today at an executive committee meeting, the conclusion of the expediency of deciding on conducting a public-private partnership in the form of a project concession «Constraction of the underground parking on E. Petrushevich Square» was approved.

The architectural concept of the project provides:
– Construction by the investor of the underground one-level parking with an area of 3017,39 sq.m, which will be in the upper part of the square. The number of parking lots that will be arranged – 100, and 20 will be with chargers for electric cars.
–  Reconstruction and renewal of the existing square on E. Petrushevich Square with the increasing its area by the liquidation of existing ground parking. We want to point out that decreasing the construction of the parking will allow us to save the majority of trees and green plantings of the existing square.
–  Liquidation ground parking on E. Petrushevich Square.
–  The parking structure will not enter the pressure aquifer and will not go on the surface (except elevators and technical exits). That will allow ensuring the security of the surrounding buildings. The investor will also conduct the thorough supervision of adjacent buildings during construction.
– It is paramount to point out that taking into account existing challenges, parking will also perform the function of protection structure of civil protection (shelter) in case of missile threats. That’s why the preparation of the project was continued during martial law.

The investment terms of the project implementation are:
–  The mechanism for implementing the project was selected a concession, as the main type of PPP.
– The concession contract will be set up for a period of 31 years: 1 year for construction and 30 years of operation. The investor will be obliged to carry out design-construction-management-maintenance of parking.
– Estimated cost of the project (CAPEX) – 150 million uah. The expected payback period – 8,1 years.
– Investor receives income through consumers’ payments: paying for parking and the provision of electricity charging services. State and city financial participation is not foreseen.
– Land plot and parking structure remain the property of the community. The investor receives them on the right of usage.

All interested investors are welcome to contact the office Invest in Lviv by phone: +38 032 254 60 06 or by email: [email protected].

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