The investor has begun the restoration of the “Kresty” complex.

Work has begun on the restoration and adaptation of the cultural heritage site “Kresty” on Arsenalnaya Embankment for modern use as a major socio‑cultural and business centre.
“As part of the priority ‘Preserving Historical Heritage and Supporting Culture’, we are not only carefully preserving the historical appearance of St. Petersburg, but also returning monuments to the city and its residents. The restoration of ‘Kresty’ is an important step in this direction. We are preserving the historical identity of the complex while simultaneously imbuing it with modern functions.” “I am confident that the renovated ‘Kresty’ will become a major center of cultural and business life, will increase the tourist appeal of the Northern Capital, and will become one of the symbols of modern St. Petersburg, a metropolis of the 21st century,” Governor Alexander Beglov emphasized.
The KGIOP issued a permit for the restoration and adaptation for modern use of the first facilities within the complex: the entrance building with supervisors’ apartments, the buildings for supervisors, and the bathhouse and laundry buildings.
In accordance with the project concept, “Kresty” will feature spaces for creativity, education, and business activities, as well as gastronomic projects, hotel infrastructure, a museum, and recreational facilities.
As part of the project, an underground pedestrian crossing over Arsenalnaya Embankment will be built, as well as the “Kresty” pier for access to the cluster from the water.
The implementation of the project will create more than a thousand new jobs.
It should be noted that the concept for adapting the facility was approved in December 2025 by the Council for the Preservation of Cultural Heritage under the Government of Saint Petersburg.
The agreement of intent to adapt the Kresty complex for modern use was signed by the city and the investor at SPIEF‑2026 in the presence of Governor of St. Petersburg Alexander Beglov and Deputy General Director of JSC “DOM.RF” Denis Filippov.