New retail project in Ersboda, Umeå.

RED has signed a letter of intent with the municipality of Umeå, with the joint ambition to create a new retail project in Ersboda, located in the northern part of Umeå.

RED has signed a letter of intent with the municipality of Umeå, with the joint ambition to create a new retail project in Ersboda, located in the northern part of Umeå.

The municipality of Umeå has initiated work to develop a new zoning plan for a new retail and business area corresponding to approximately 40 hectares of land in the so-called “I20-area” in Ersboda, between the northern link (“Norra Länken”) and road 364. The project is currently being labelled as “Sandbäcken retail area”. As compensation for the expertise that RED contributes with throughout the zooning planning process, Umeå municipality intends to sign a land allocation agreement with RED for parts of the planned area, upon acceptance of the zooning plan.

The new zoning plan is expected to be approved by the end of 2018/beginning of 2019 and will enable the expansion of the external retail area in this part of Ersboda.

“The RED team is very proud and happy for this opportunity to be involved in the continued development of Umeå’s external retail areas”

says Ronald Rico, CEO of RED.