Luther Imobiliare takes over Bucharest’s “Former Factory” urban regeneration project

Luther Imobiliare has acquired the “Former Factory” project in Bucharest, a significant urban regeneration and heritage conservation initiative. The project, which aims to revitalize a former industrial site, combines historical architecture from the early 1900s with modern residential, commercial, and cultural spaces designed for the 21st century.

Spanning roughly one hectare, the “Former Factory” project will feature 156 contemporary apartments in the Luther Block, along with 31 lofts in the Mălţărie building. Additionally, the development will include commercial spaces, restaurants, cafes, offices, recreational areas, and cultural venues, creating a vibrant community hub.

“We are honored to continue this project, which plays a key role in the revitalization of the area around Basarab Passage,” said Raluca Antonescu, a representative of Luther Imobiliare. “Our vision is to blend modern comforts with the rich history of Romanian industry, creating a community that values architectural heritage, thoughtful urban design, and a forward-thinking business model.”

Luther Imobiliare plans to sell apartments in the Luther Block and some of the lofts in Mălţărie, while retaining ownership and management of 70% of the overall development. The project is expected to further enhance the appeal of the surrounding neighborhood, contributing to its gentrification and cultural resurgence.