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Three years after the plans for the Gunerius neighborhood were launched, owner Olav Thon is now halting the entire project.
In a letter to the Oslo City Council for Urban Development, Olav Thon calls for the planning process around the Gunerius neighborhood to be ended and political consideration to be stopped, writes the Estatenyheter website.
After several rounds of rejections, a final plan on how the Gunerius area would develop was presented in June, and this plan is now up for political consideration.
According to Aftenposten, the new plans included leaving the Gunerius tower standing, building a 42-meter-high hotel, building 90 houses and establishing a plaza in the middle of the neighborhood. In addition, there were plans for a cinema and a gym.
Also read: Olav Thon against the Oslo City Council: – I can’t understand it
Now, however, Thon believes that the project will not be profitable and writes in the letter that “the requirements for development grants in combination with a limited area, means that this project cannot be profitable.”
– PBE has also designed a separate regulatory alternative that, among other things, greatly impairs the function of the hotel. This means that the hotel concept will not be able to win the market position in Oslo that can make the investment responsible, Thon writes in the letter.
Read more: Olav Thon: – We are doing well without so much state support
The online newspaper has previously written that Thon was not allowed to build more than 42 meters high. When it reacted, KLP was allowed to build the tallest building in Oslo, which would eventually rise 135 meters high.
– I have the neighborhood of Gunerius, which is less than three minutes walk from there, and I have been told roughly that it should keep 42 meters. At the same time, KLP has the opportunity to build a building that is three times taller, he said then.
Read more: Olav Thon in ownership dispute: – This is a very bad wedding gift
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