OJSC Construction Corporation Renaissance of St. Petersburg has started selling residential and commercial space at the new (third) house of the Kamen

The residential house at 56-62 Kamennoostrovsky Prospekt with built-in commercial space is located in close vicinity to the Vyazemsky House built to the design of G.V. Voinevich and M.I. Sholkovsky in 1895-1898 and the mansion of E.G. Igel built to the design of V.Ya. Zon and A.I. Kovsharov in 1894-1897. The new house is a short way from the Anikushin Garden decorated with a central bronze sculptural composition of a dancing pair of girls.  

Iliya Andreev, Marketing and Sales Director of Construction Corporation Renaissance of St. Petersburg said: “The Kamennoostrovskaya Collection owes its value to the advantageous location in the historic centre of the city by the most prestigious thoroughfare in the Petrogradsky district. The uniqueness of the development is stressed by the 19th century architectural monuments surrounding it.” 

The new building of the Kamennoostrovskaya Collection forms a second line for the development of Kamennoostrovsky Prospekt with the Igel mansion and the Vyazemsky House on the front line. The building includes 70 spacious flats with balconies and terraces. Four luxurious penthouses, three of them having two levels, add special flavour to the building. Those are true penthouses i.e. houses on the roof with extra high ceilings and panoramic glazing, and having no common walls with any of the adjacent flats. The penthouses provide unique views of Kamennoostrovsky Prospekt, historical buildings of the Petrogradsky district, the spire of the Peter and Paul Fortress and the cupola of St. Isaac’s Cathedral.
Incidentally, currently the building at 56-62 Kamennoostrovsky Prospekt has the biggest number of flats with views on the list of prestigious properties offered by various companies in Kamennoostrovsky.  
 
A great competitive edge of the new house is its underground parking lot for 88 vehicles. The residents will be able to get there by lift from their floor. Hence a most advanced solution is provided to the problem of parking one’s car, which is quite an issue in central St. Petersburg.

For entrance halls exclusive, individually tailored designs will be used.
The ground floors will accommodate spacious trading areas.  
The new (third) house of the Kamennoostrovskaya Collection (56-62 Kamennoostrovsky Prospekt) has flats of 58 sq.m up to 312 sq.m.    
 The cost per square meter of housing in the new house of the Kamennoostrovskaya Collection (56-62 Kamennoostrovsky Prospekt) varies between RUB 180,358 and RUB 453,716 for lumpsum payments. Payments can also be made by installments.

The first house of the Kamennoostrovskaya Collection was a small “club type” house at 56 Kamennoostrovsky Prospekt.  The faзade of the new building constructed in 1999 in the traditional Art Nouveau style of St. Petersburg made a perfect match with the bourgeois-looking Kamennoostrovsky avenue. The architectural design developed at the Evgeny Gerasimov’s workshop won three awards: in 1997 it became a winner of the All-Russian Architectural Competition, in 2001 it won a Second Degree Diploma of the International Festival of Architecture, and in 2002, the Government of St. Petersburg declared the house at 56 Kamennoostrovsky the best residential project constructed for the past three years.  

To design the second and third houses of the Kamennoostrovskaya Collection, the best architects from the Reinberg & Sharov Workshop  were invited.

The second house of the Kamennoostrovskaya Collection is an 8-storied building whose main faзade overlooks the Anikushin Garden. Having a balcony, loggia or terrace in each of the 24 flats, underground parking lot and a well upkept garden by the house is something one would rarely dream of at Kamennoostrovsky Prospekt. The house was completed in the second quarter of 2007.  
 
The composition of the Kamennoostrovskaya Collection organically fits into the architectural image of the avenue while providing its own landscaped yard spaces. The architectural solution of the new residential compound is in perfect harmony with the surrounding scenery – the buildings will look stately and solid matching the sublime image of Kamennoostrovsky Prospekt.   
 
One of the unchallengeable advantages of the Kamennoostrovskaya Collection is its prime location by the elegant Anikushin Garden, shadowy Lopukhinsky and Vyazemsky gardens, and the exotic greenhouses of the Botanical Gardens, as well as the cosy Kamennoostrovsky Park. 

For more details please contact:

Anna Panina, PR Manager
OJSC Construction Corporation Renaissance of St. Petersburg
Tel./fax: +7 (812) 312-0992, cell.: +7 (921) 953 7923
panina@skv.lsrgroup.ru

Notes to Editors:

OJSC Construction Corporation Renaissance of St. Petersburg (a company of LSR Group)   is a leader of the elite property development market in St. Petersburg. The corporation was founded in 1994 and is today one of the largest construction companies in Russia. The track record of the company includes 32 projects successfully implemented in the most prestigious, challenging and important locations of the historic centre of St. Petersburg — a total of 67 residential buildings and 6 business centres. The company prides itself on the restored buildings that are of historic value for the city being architectural monuments of the 18th and 19th centuries. Currently work is underway to construct Phase 1 of Paradny Quarter – the first posh neighbourhood in St. Petersburg, and deluxe residential compounds such as Dom u Morya (Seaside House), 60 Shpalernaya (Phase 3) and Suvorovsky Residence. New projects are being prepared.

OJSC LSR Group is a diversified construction company founded in 1993 and operating in a number of complementary market segments. Its core business areas are building materials, construction and real estate development. The Group includes enterprises for extraction and processing of aggregates, production and transportation of building materials, and housing construction — from mass market large-panel housing to elite property built after designs made by leading domestic and foreign architects.
LSR Group has operations and offices in a number of cities in the Leningrad Oblast, in St. Petersburg, Moscow, Yekaterinburg, Lithuania, Latvia, Estonia, Ukraine and Germany. LSR Group employs over 15,000 people.
In 2005 and 2006, the revenues of LSR Group (according to IFRS statements) were US$ 463 million and US$ 777 million respectively. In 2007, the revenues amounted to US$ 1,403 million.
LSR Group has a B1 rating  from Moody’s Investors Service (outlook – Stable) assigned in July 2007 and confirmed on 30 May 2008 and a B+ rating by Fitch Ratings (outlook – Stable) assigned on 30 May 2008. The Group’s shares are listed on MICEX and RTS and on the London Stock Exchange in the form of GDRs since its IPO in November 2007. 
In 2007, LSR Group was awarded ‘The Company of the Year’ National Award in the ‘Construction’ category.