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REAL ESTATE review
DEVELOPMENT NEEDS TO BE INTEGRATED INTO WIDER ENVIRONMENT The development process in Budapest brings in environmental issues relating to the capital as a business center, locational issues, the look and feel of the city, architecture, heritage and public transportation. By Gary J. Morrell Budapest has a number of business districts throughout the city, although no clearly defined central business district. Therefore, locational issues are an important part of the planning processes and, by the very nature of the city, business complexes are expected to integrate into their surroundings by offering services and public squares and green areas. “It is highly important to evaluate a project also on the community level and not just as a stand-alone project. Sustainable buildings are smart buildings as well and they respond to the needs of the building’s users, but they also interconnect with their environment,” comments Zsombor Barta, president of the Hungarian Green Building Council (HuGBC). With regard to the development of an
office project, for example, the most important factors are the proximity and variety of public transport, the amenities within walking distance, the business nature of the district and also accessible green areas nearby. With regard to transportation links, the most favorable is a metro within 400 meters; however, other fixed track modes of transportation are also advantageous in the view of Edina Hornok, head of sustainability at DVM. Office developers have a number of priorities when sourcing a development site, however the overriding priority is location, services and transport links that serve the needs of tenants and staff. “Our base criteria for the location of a good development site is unchanged. Metro and other kind of public transport connections as well as the services and facilities of the micro and macro environment are key factors,” comments
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Nikolett Püschl, leasing and development director at Atenor Hungary. “Sourcing development sites is our daily job, which is challenging, but as we experience there is still significant potential in the different parts of Budapest,” she adds. For Hornok, public transport systems will have to accommodate different usage patterns post-COVID, as people now feel less comfortable using crowded, shared facilities. FOCUS ON CONGESTION “They have to focus on managing congestion in peak times: passenger counting smart technologies can be used, service frequency should be increased, but with reduced capacity, with seats that are at an appropriate distance from each other. Sanitizer points at the stations and appropriate signage are also important,” she says.“One downside of the crisis is that people now prefer to use their own cars; however, this could change due to economic issues. In city centers, pedestrian traffic and biking has to be promoted, which means that cities have to invest in cycling infrastructure and provide wider, safer streets for cyclists and pedestrians through limiting car traffic at downtown areas,” Hornok adds. Office developments in the historic center are rare, although there are a number of boutique hotels, of which Párisi Udvar Hyatt Collection is an obvious example of the renovation of an historic listed building, providing a
