The 47-apartment (plus one store) residential building with an underground garage obtained its final and viable construction permit in June 2006. The building at 2 Almássy Square, VII., Budapest, was designed by Archicolo Kft., within the project of Irish-owned Park Residence 2005 Kft. In terms of construction, the building that had previously stood on the plot was demolished, however, the construction could not start due to the economic crisis, and the process had to stop.