The untold story of the Zhitny Market: How to preserve one of the capital's iconic landmarks.

In social media, there will certainly be an uproar – accusations of betrayal and all that: "once again, a historical site has been handed over to a dubious developer or a Kyiv city official." They will make noise for a week, maybe two, at most a month. Then the public will shift their focus to another topic. Fortunately, there’s always another reason for accusations to find.

The new owner will wait for some time – three months, or maybe even six months – and then will begin to renovate the market. He won’t even need to come up with anything new – the Zhytniy market is in a state of emergency, with decaying utilities, broken windows, and a leaking roof. The building, constructed in the 1980s, is slowly deteriorating.

And during the renovation, what has happened many times before will occur. The market will collapse, catch fire, be accidentally demolished, or something else will be devised. When there’s no market, there’s no scandal to discuss either.

In its place, a supermarket, a shopping center, or a high-rise building can be constructed. It will be as faceless as possible, not fitting into the architectural style of Podil, but it will bring profit to the owner – and that’s what matters most.

The scenario described above is not the author’s fantasy. In the early 2000s, the Sennoy market was sold for eight hryvnias to a firm connected to the then-mayor – and then was immediately declared an emergency and, despite all public protests, was demolished in 2005. Now, on its site, there is the residential complex "Yaroslavov Grad." A similar scheme was used to demolish the wooden estate in Podil, the Zelenksy estate, and many other buildings.

How did Zhytniy reach this state?

Since the early 90s until today, the market has gradually degraded. Now, for some reason, Kyiv authorities claim that the only way to save the market from destruction is to keep it in communal ownership. However, they somehow forget to mention that in the 44 years of that very communal ownership, there has not been a single major renovation. Currently, the inside of the market is a complete disaster. The roof, windows, window frames, all utilities, external and internal decorations – all of this requires repairs costing millions of dollars here and now.

If we consider the market from the perspective of comfort for Kyiv residents, the situation is also bleak. Zhytniy is filled to barely 30%, with food stalls and shops presenting a pitiful sight. Grandmothers selling chickens from the ground, shops with checkered bags along the market, and clothing repair on the second floor – the assortment of goods is at the level of a supermarket in a regional center. This reflects on the profits: over the last 10 years, the market has generated 5 million UAH in losses.

0

This is a strange situation. The market has an ideal location to become one of the most popular spots in Kyiv. It is situated in the historic center of Podil, near Vozdvizhanka, six universities, including Mohyla Academy, a major transportation hub, two dozen hotels, and numerous office centers.

Every day, about 70,000 people come to this area for work, and there are around 40,000 local residents within a 30-minute walking distance. Any businessman would sell their soul to the devil for such a piece of land. Which is essentially what is happening now.

1

What is happening around the market now in a documentary context

In 2022, the market was rented out to the owner of the Tarantino chain – German businessman Florian Bolen. With the condition that he would carry out a major renovation and breathe new life into the market. The promises remained on paper, the German vanished without a trace, just like the market's reconstruction. The Kyiv authorities terminated the lease agreement through the court, and until 2024, the story around the market quieted down. When it came to Ukraine’s survival as a state, there was no time for that.

But in the spring of 2024, the Kyiv City State Administration suddenly – literally five days before the auction date – announced an "auction for the lease" of the Zhytniy market, with extremely dubious conditions. The future renter was offered to independently conduct a major renovation of the entire building (even though the court prohibited using the market, declaring the building emergency) and simultaneously pay 2.5 million UAH plus VAT in rent. The auction was prepared for a specific participant – a large retail chain, and gathering the necessary documentation for participation in such a level tender in just five days is bordering on fantasy.

The public perceived this as a scheme for "hidden privatization": the contract states that if the market renter invests 25% of the asset's value in reconstruction (which, according to then-current estimates, is around 62 million UAH excluding VAT), he will then be able to purchase the entire complex without an auction. And do whatever he wants with it. For example, demolish it and build another high-rise building. If you think this is impossible, recall the Sennoy example.

In the end, the city council canceled the auction and created a working group "to find an optimal solution." Who is in this group? Mostly city officials and deputies closely linked to the Kyiv City State Administration. Including those under whose tenure the market finally degraded and is on the verge of collapsing onto visitors' heads.

If it remains in city ownership, it is hardly reasonable to expect radical improvements if none have occurred over the last 44 years. It should be remembered that the market's losses are covered by Kyiv residents' taxes. This money could have been used, for example, for the development of parks or children's playgrounds.

Who is trying to save Zhytniy

From the Kyiv residents and activists, two sides are actively trying to save Zhytniy.

Yevhen Klopotenko – a well-known restaurateur and public figure. He is searching for reliable investors willing to rent the market and prevent its disappearance. There are no specifics on this matter yet, nor confirmed financial calculations.

The REIT company Inzhur, whose profile is joint investment, manages several profitable projects across Ukraine. The option from Inzhur suggests giving the market into the ownership of Kyiv residents, after which let any manager try to demolish it or build a high-rise in its place.

People who invested money in the property will pull it out from under the ground, and if it is managed ineffectively – they will quickly find a replacement. Interestingly, the aforementioned working group at the Kyiv City State Administration did not accept the company, citing a conflict of interest, as they are interested in resolving the situation around the market.

The essence of the REIT concept is that thousands of people become co-owners of one property through mutual funds, after which they receive a percentage of the profits. The same principle as in classic investments, only in this case, one can invest several thousand or tens of thousands of hryvnias and, together with thousands of other small investors, become a co-owner of an asset like Zhytniy Market or Ocean Plaza.

More than 2,600 Kyiv residents have already made contributions to the Zhytniy rescue fund on the Inzhur website, with the total investment in the market's renewal planned to be around 500-700 million UAH.

What Zhytniy Market 2.0 could look like

Zhytniy could become Kyiv's "Center of Gastronomy and Culture." Lisbon’s Time Out Market, Barcelona’s La Boqueria, London’s Borough Market – there are many successful examples in Europe of how semi-ruined spaces can be transformed into attractions for tourists and locals.

2

To demonstrate how this could look, Inzhur funded the work of the international consulting firm Colliers and the architectural and engineering bureau AVR, which created a detailed modernization project for the market.

The renovation project for Zhytniy is based on preserving historical heritage while adding new formats. The classic market in this version will move to the second floor and the inner courtyard. There, local products from farmers