21 August 2017
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Polish investors eyeing to restore property in western Ukraine

Chervonohorod castle and St. Stanislaw church may soon be one of Ukraine's top tourist destinations. That is if the reports of local authorities working on paperwork to find its rightful owners turn out to be true, according to Ukraine Today.


If legal successors are found they will have the right to own the property. However, according to several Poland-based news outlets, the ruins of the old structures are now the subject of interest of several Polish investors who would like to see the castle restored, Ukraine Today reports.

Chervonohorod castle and the neighbouring Cathedral were located in a Ternopil region town that was wiped off the maps in the 1940's. During the time of the castle's existence majority of western Ukraine was under Polish rule. Therefore, the last owner of the property is listed as a Polish nobleman Karol Poninski.

Poland, Ukraine launch Open Skies regimeThe ruins left from the castle near the village of Nyrkiv in Ternopil region can only suggest the magnitude of wealth and influence Poninski must have had in the area. However, restoration of this property is estimated to cost at least USD 10 million.

The estimate includes the reconstruction of at least 100 metres of the cobblestone road that leads to the historic landmark. Local authorities claim they would like to see the investment go further than just renovation.

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