Russian developers LSR Group and Coalco Development have agreed to build a 105 000 sq m (1.1mn sq ft) executive class residential community in southern Moscow.

The project includes penthouse apartments of up to 250 sq m (2 690 sq ft), as well as studios, LSR’s press office reported. The project will break ground in the first quarter of 2013. The partners plan to complete the first stage of development totaling 55 000 sq m of housing in the summer of 2016.Until recently, the area that the partners will develop housed an industrial company, which moved to the Vladimir region.

Coalco Development is controlled by businessman Vasily Anisimov.