Pedestrian trade-service overpasses
Crosspoint Group represents a unique program of constructing 24 trade-service overpasses in all administrative districts of Moscow. Construction of the objects “trade-service overpasses” is carried out within ordinances of Moscow City Government №587 d/d 30.07.2002 “On implementation of a town-planning Concept of construction of trade-service overpasses on the Moscow traffic movement area” and the Resolution of Moscow City Government №126 d/d 21.02.2006 “On the Introduction of Amendments and Additions to the Resolution of Moscow City Government №587 d/d 30.07.2002”.
Trade-service part of the objects is a multifunctional trade-entertaining centre. Commercial floor area of the objects will make more than 800 000 sq. m. and invested in project amount of finance will exceed 960 million US dollars.
Building of these 24 objects is only the first step of the great city program of Moscow City Government upon construction of trade-service overpasses that provide:
- increasing of pedestrian safety level;
- environmental situation improvement;
- normalization of small-scale retailing;
- increasing of country provision with by-product group and fast food service.
All estimated trade-service overpasses are located on the main traffic arteries, in close vicinity to metro station and railway station exits, in transport and transfer working area, the most thickly populated districts of Moscow, i.e., in the places with the overdense pedestrian flow. Every trade-service crosswalk includes a pedestrian zone component.
Under this program rights to property are divided in the following way:
100% of trade-service area become the property of investor and involved co-investors.
100% of pedestrian zone become the property of Moscow.
With over 10 million inhabitants, Moscow is the largest European capital and one of the fastest developing cities in the world. For the last 3 years growth of the Moscow retail market was about 23% and reached $49.3 billion. High rates of development are expected to continue in the next 3–5 years.
However, in spite of the active construction boom in Moscow, there is still a significant undersupply of available shopping space. Currently in Moscow, there is only approximately 100 sq. m. of shopping center space per 1,000 inhabitants, compared to other cities like Warsaw, Prague and Madrid which have 600 sq. m., 409 sq m and 393 sq. m. per 1,000 inhabitants, respectively.