Vaklin Stoynovski:

"The silhouette of Bourgas, if you look at it from Sarafovo Airport, reminds that of New York. Perhaps, that's why I had this idea to do something significant for the city, not just another building to make some money from."

Why build a skyscraper:

Each resident of Bourgas wants to live in a developing, modern, clean and beautiful city
The vision of the city will change and become much more sophisticated
Many new jobs will be created
An attractive building will stimulate tourism
A big underground 4-level parking lot will alleviate the parking problem and the traffic

Timeline of the land and the property:

1969:

The government takes away 1,000 sq.m. from the Burgas Seaside Park (Act № 3588/ 04.12.1969)
A separate plot of land is created with a parking lot in front of it
A house is built as a replica of the Efendievata Kashta (Efendi's House) in Malko Tarnovo (a local monument of Strandzha architecture)
The building becomes property of the National Institute for Monuments of Culture (NIMC). The new building is not a monument of culture

1991 - 1997:

Central Department of NIMC closed as a result of Order № RD 19-96/ 22.02.1991
A Division of Conservation and Restoration Works established in Bourgas
Efendi's House becomes property of the Burgas Division of Conservation and Restoration Works
Conservation and Restoration Works transformed into Restoration EAD by Order № RD 09-236/30.05.1994 and registered by a Sofia City Court Decision

1997:

On 11.09.1997 the property is rented by National - DNM OOD, Nessebar
The whole plot of land is built upon and turned into Vodenitsata restaurant

2003:

New Regulation and Construction Plan of the Bourgas Seaside Park is adopted. The property is registered as a separate item of the plan outside the park. The plan is coordinated with the Burgas Municipal Council and promulgated in the State Gazette.
Pomorijska Street passes in front of the property representing a three-lane road with wide sidewalks and a driveway to the parking lot in front of the property

2004 - Middle of 2005:

Cool Place OOD, Bourgas, purchases the property from Restoration EAD in a direct bidding procedure in competition with other companies
The lawfulness of the procedure proved and defended in five court cases, including two before the Supreme Administrative Court
The leaseholder of the Vodenitsata Restaurant appeals the privatization in court. In the middle of 2005 all court procedures between the National, the government as represented by Restoration EAD and the privatize party are over.

End of 2005:

Bulgarian American Credit Bank AD acquires 15% of the property
Thracian High-rise Estates OOD managed by Vaklin Stoynovski holds the majority 85%. The company is established in order to prepare, build and operate the prospective skyscraper

2006:

06.02.2006 - Engineering and geological report and expert opinion on the acceptability of the envisaged project
13.02.2006 - Investment intention coordinated with the Ministry of Environment and Waters
25. 02.2006 - Investor removes the buildings of 1997. Only the replica of the Efendi's House remains on the property. It is then dismantled and preserved for a future reconstruction by a team of Research Fellow Tsonya Drajeva, Director of Bourgas Museum, and engineer Ivan Ivanov, a long-term Director of the National Institute for the Monuments of Culture.
03.2006 - Investment intention coordinated with the Ministry of Transport and Chief Directorate of Civil and Air Aviation
06.03.2006 - Bourgas Regional Administration issues a Certificate of Lack of Restitution Claims on the property.
09.03.2006 - Bourgas Municipality sends official letters to the President and Prime Minister of Bulgaria with a description of all construction documentation and opinion on the lack of violations in the process of the future skyscraper construction.
06.2006 - A contest for the conceptual design and vision of the skyscraper is organized
06.2006 - The property is temporarily used as a free parking lot for the visitors of the beach and the Seaside Garden

Procedures with Respect to the Construction Documentation:

28.04.2005 - Request to change the Regulation Plan of the property (Regulated Land Property II -2445) filed at Burgas Municipality
05.2005 - Expert Council on territorial planning allows survey as to the change of the existing Detailed Site Development Plan - Zoning & Development Plan of RLP II 2445 with a request for a silhouette survey and coordination with the Ministry of Regional development and Public Works (MRDPW)
07.2005 - MRDPW approves the possibility to change the character of construction on RLP II-2445 under Territorial Development Act
Project coordinated with Water Supply and Sewage Burgas EAD and Electricity Distribution Stara Zagora EAD
09.2005 - Protocol-Decision of Expert Council on Territorial Development № 37 approves the changes in the Zoning & Development Plan of RLP II-2445. The decision is communicated to the interested parties.
10.2005 - Change of the Zoning & Development Plan of RLP II-2445 approved by Order № 1190 of Mayor of Bourgas Municipality
26.10.2005 - Bourgas Municipality issues a Design Permit № 610
01.12.2005 - Engineering and geological survey of the property launched
27.12.2005 - Public discussion of the investment intention to build a skyscraper is held. Such a discussion is not required by law and is initiated by the investor to take into consideration the attitudes of the Bourgas residents. An idea comes up to preserve the replica of the Efendi's House in the future construction.
06.02.2006 - Engineering and geological report prepared along with the expert opinion on the acceptability of the building
13.02.2006 - Investment intention coordinated with the Ministry of Environment and Waters
25.02.2006 - Investor removes the buildings of 1997. Only the replica of the Efendi's House remains on the property. It is then dismantled and preserved for a future reconstruction by a team of Research Fellow Tsonya Drajeva, Director of Bourgas Museum, and engineer Ivan Ivanov, a long-term Director of the National Institute for the Monuments of Culture.

Investors:

Bulgarian American Credit Bank
A leading international hotel chain
Vaklin Stoynovski - a businessman, project initiator and majority owner

What the skyscraper will look like:

The initial idea was to build a two-storey entertainment center with restaurants, a tavern, a bowling hall, and a garden. However, this idea is rejected.
According to Vaklin Stoynovski, the city of Bourgas, contemplated from the Sarafovo Airport, resembles New York. However, there are no skyscrapers. And the idea to do something significant for the city takes the upper hand.
The plot permits the construction of a high-rise building it is separated from the other buildings and is in compliance with the Territorial Development Act.

The skyscraper will be a multifunctional building 150 meters tall with a floorage of about 55,000 sq.m. above ground level, ethereal glass faзade, business hotel for congress tourism, offices, studios and many extras:

Conference facilities
Modern communication facilities
Ceremony hall
Art gallery
Sea museum
Theater hall
SPA center
Fitness hall
Squash hall
Indoor swimming pool
Luxurious boutique shops
Fish restaurant
Watermill restaurant
Panorama restaurant
Vienna cafe
Four-level underground parking lot

Vision of the skyscraper:

In June 2006 a contest for the visual design and functionality of the first Bulgarian sky scraper was held. Seven specially selected design bureaus were invited, all having exceptional knowledge and experience in the field of high-rise construction in Bulgaria and abroad.
Visualizations of their ideas and proposals were exhibited for two weeks at the Bourgas Free University so that the residents of Bourgas could be prepared for the assessment process.

The award of the public went to:

Architect Kalin Dikov of Elite Studio

The Jury:

The Thracian Highrise Estate OOD, owned by Vaklin Stoynovski, and Bulgarian American Credit Bank set up a jury to assess the projects. Members of the expert commission were renowned experts in various fields - economists, designers, architects, engineers:

Professor Atanas Kovachev
Professor Zheko Tilev
Professor Yonko Penev
Gerhard Brand, a German architect

The award of the jury went to:

Mirko Tatarini of Lagos
Eorgi Stoilov of МАА
Atanas Panov pf LP Consult Group