OJSC Construction Corporation Renaissance of St. Petersburg (a subsidiary of LSR Group) launched 2 residential blocks of the second stage of the Paradny Quarter (6th and 7th residential buildings). The first elite residential neighbourhood in the city centre is by half completed; the majority of apartments of the first stage are sold out. Market launch of 248 new apartments will provide for an extended choice for the customers.

The 6th and 7th residential buildings consist of 7-9 storeys with a net sellable area of 35.1 thousand square meters. These are planned to be completed in December 2012, the Paradny Quarter completion date is December 2014.

Paradny Quarter is a unique mixed-use project that includes elite residential and commercial properties of De Luxe class in the historical centre of St. Petersburg. The complex is located in close vicinity to the Tauride Garden, bounded by Kirochnaya Street, Paradnaya Street, Vilensky Pereulok and Radischeva Street. The project comprises residential buildings, office centres, retail stores, new streets and a square.

Paradny Quarter consists of 16 buildings, including eight A+ separate commercial properties. Eight buildings of the first stage are already put into operation, including three residential and five A+ commercial properties. One more commercial building is to be completed by the end of 2010, which means completion of the first stage.