Kyiv residents are invited to a public discussion of Zhytniy Market reconstruction and presentation of the updated concept
20 February 11:34
on February 25, at 18:30, the investment company Inzhur will present a project to renovate the market with further investments of UAH 500-700 million at Zhytniy Market. All concerned Kyiv residents are invited to attend the public discussion of Zhytniy’s reconstruction, and admission is free, Komersant ukrainskyi reports
At the event, Inzhur will show a concept of how Zhytniy, which is currently in a state of disrepair, can be transformed into a cultural and gastronomic center of the city, based on the principle of European markets: Lisbon’s Time Out Market, Barcelona’s La Boqueria, London’s Borough Market
The renovated Zhytniy is a modern farmers’ market with Ukrainian products, a food hall with 600 seats and a cultural center with a stage.
The classic market will be located on the second floor and in the courtyard. It will feature products from farmers from all over the country. The first floor will have a food hall that will attract visitors and a stage for events and concerts. The third floor will be shared by a restaurant with a panoramic view of Podil, a fitness room, and greenhouses for growing herbs and vegetables. The basement will be equipped with parking, administrative premises and shelters.
The concept was prepared by Colliers, an international consulting agency specializing in commercial real estate, and AVR Development, a leading Ukrainian architectural and engineering firm. To implement this project, Inzhur plans to invest UAH 500-700 million. According to estimates, after the reconstruction, Zhytniy will be visited by 5-10 thousand people daily.
The public event at Zhytniy Market on February 25 will consist of three parts:
- Presentation of the analytical part of the concept, including economic calculations, a financial model of the market, and a description of solutions for each floor and area around the market.
- Presentation of the visual part of the project.
- Public discussion, answers of the concept authors to questions from journalists and other participants.
Journalists and all concerned Kyiv residents are invited to attend the public discussion of the Zhytniy rebuilding, and admission is free.
The accreditation form for journalists is here.
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Inzhur is confident that Zhytniy can become a world-class destination if it is privatized in a transparent manner with guarantees of market preservation and renewal. The public event initiated by Inzhur will be the first public discussion of the fate of the market, which is falling victim to shady schemes in front of Kyiv residents.
The current state of Zhytniy Market
Back in the days of Kyivan Rus, there was a market on the site of Zhytniy. Today, Zhytniy is the largest indoor market in Europe and one of the most recognizable landmarks in the Ukrainian capital.
Over the past 44 years, Zhytniy has never been overhauled: the roof, windows, facade, communications, and interior are all in terrible shape and in need of renovation.
Now the market is 30% full, and spontaneous trade is flourishing there. Despite the fact that the neighborhood of Zhytniy is the most traffic area in Podil, the market has generated UAH 5 million in losses over the past 10 years. In the most profitable year of 2019, Zhytniy brought in about UAH 2 per square meter per month.
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Why Zhytniy is at risk of disappearing
In the spring of 2024, the Kyiv City State Administration suddenly announced an auction for the lease of Zhytniy Market five days before the auction date. The agreement stated that if the tenant invested 25% of the asset value (about UAH 62 million excluding VAT) in the reconstruction of the market, he would be able to buy the entire complex without an auction and change its purpose.
The public perceived this as a “hidden privatization” scheme and was outraged, and the city council canceled the auction.
How to save the market
The fate of Zhytniy Market, one of the symbols of Podil, should be decided not only by the Kyiv City State Administration and Kyiv City Council members, but also by Kyiv residents themselves. The only way to preserve the historical heritage is to unite into a powerful community, put pressure on the authorities and push for a transparent auction, provided that the format of Zhytniy is preserved. As the cancellation of the “lease” auction showed, such protests work.
Inzhur has already invested 100 thousand euros in the concept of renovating Zhytniy. 2,600 Kyiv residents have invested UAH 36 million in the Zhytniy renovation fund.
“If we win,” says Andriy Zhurzhiy, “Zhytniy Market will become a symbol that Ukrainians have learned not only to raise millions for drones, but also to revive their own city together. And someday, tourists from all over the world will come here to Podil to see how Kyiv residents are making history.”
