Financial instrument JESSICA - City projects

Project amount EUR 3 000 000

Credit amount EUR 1 000 000

Stage Terminated project

October 3, 2014

The project provides restoration, reconstruction and readjustment of the Ottoman storage which is situated on “Omurtag” str. in Varna. The building is more than 200 years old. It was initially built as a prison during the Ottoman Empire and afterwards converted to storage. It is also known as Ottoman mazi.

Currently the building is a historical monument in very poor condition. It does not have doors, windows and its roof is in very adverse condition. Presently the monument attracts lots of waifs. That is why the aim of the project is to reconstruct the Ottoman storage in such way that it preserves its authenticity in the main part. In addition the project aims at transforming the storage into а hall for concerts and events. Also a modern residential area and underground parking lot are to be built inside the Ottoman storage. The initiator of the project is the firm “Bon Marin” whose office is situated across the Ottoman storage.

Tha value of the project is 3 million euro. The Fund can finance the construction of the hall, valued at 1 million euro. 

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