SPIEF 2026: Investors will adapt cultural heritage sites in the Nevsky district of St. Petersburg for modern use
On June 4, 2026, within the framework of the St. Petersburg International Economic Forum, an agreement of intent was signed between St. Petersburg, LLC "SZ "KVS-Nevsky" and LLC "Nevsky Heritage" in the implementation of an investment project in the field of conservation, restoration and adaptation for modern use of cultural heritage sites of regional significance.
In the presence of Alexander Beglov, Governor of St. Petersburg, the agreement was signed by Nikolai Linchenko, Vice Governor of St. Petersburg, Sergey Yaroshenko, CEO of KVS-Nevsky Construction Plant LLC, and Lyudmila Kogan, founder of the BFA-Development Construction Group.
As part of the agreement, it is planned to adapt cultural heritage sites for modern use: the Thornton Wool Factory Complex and the Vargunins Paper Mill Complex.
"The preservation of historical heritage is one of our ten key priorities until 2030. We have launched a very important project. Two monument buildings, which are an important part of the industrial history of the city, get a chance for a new life," said Alexander Beglov.
The parties to the agreement agreed to establish long-term cooperation and cooperation in order to create the conditions necessary for the implementation of the project.
"For our company, the preservation of cultural heritage sites is a big responsibility and an important part of the work. St. Petersburg has a unique architecture and historical environment that must be carefully restored, restoring relevance and a worthy place in the modern life of the city," emphasized Sergey Yaroshenko.
The project will have a positive impact on the economy of Peterubrga.
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The KVS Group of Companies is one of the largest construction holdings in St. Petersburg and the Leningrad Region, implementing large-scale projects for the integrated development of territories. The holding is one of the five leaders in terms of current construction in St. Petersburg and builds not just houses, but a comfortable urban environment, creating modern residential areas with developed infrastructure, public spaces and thoughtful solutions for life.
Nevsky Heritage LLC is a subsidiary of the BFA-Development investment and construction group of companies, which includes enterprises engaged in the design, construction, sale, management and operation of commercial and residential real estate. The projects of BFA-Development Group have been repeatedly awarded a professional award in the field of commercial real estate, as well as an honorary diploma and the mark of conformity of the World Club of Petersburgers in the nomination "Preservation and recreation of a historical architectural object".