Art as an Investment: “Legends of the Carpathians” and the Future Gallery at PÓTAY Were Presented in Lviv

As part of the Lviv Invest Forum 2026, a panel discussion titled “How Investments in Art Create Added Value for Development Projects”, initiated by ARHA GROUP and PÓTAY, took place in Lviv. Participants discussed how art, cultural heritage, and a sense of place can influence the long-term value of contemporary spaces.

Participants in the discussion included Viktor Yushchenko, President of Ukraine from 2005 to 2010; Ihor Ilchyshen, developer and founder of ARHA GROUP; Volodymyr Kozyuk, People’s Artist of Ukraine; Oksana Starak-Povyakel, Director General of the National Museum of Folk Architecture and Life of Ukraine; Olena Matveeva, CEO of KRAЇNA EDEM and CEO of the Global Culture Forum, and Rostyslav Tistik, Member of the Ukrainian Parliament. The discussion was moderated by television host and producer Yuriy Gorbunov.

Viktor Yushchenko emphasized that it is culture that gives physical space its meaning and shapes a person’s connection to a place.

“A developer creates square meters, while art creates space. You want to return to that space, not to a square meter,” he noted.

A separate part of the discussion focused on the PÓTAY project in Yablunytsia. According to Igor Ilchyshen, founder of ARHA GROUP, PÓTAY is being created as a modern interpretation of a Carpathian farmstead. The complex is located at an elevation of about 970 meters above sea level, with views of Mount Hoverla and Mount Petros.

The idea to create an art space there arose after Volodymyr Kozyuk’s visit to Yablunytsia and his meeting with Igor Ilchyshen. The “Legends of the Carpathians” project itself already existed at that time, and exploring the location sparked the idea for the future gallery.

“Volodymyr inspired me, and I realized that this art space is the very soul of this project,” said Ilchyshen. According to him, modern development should create not only square meters but also meaning and long-term value.

During the event, 12 paintings from the central series “Legends of the Carpathians” were presented—an art project by Volodymyr Kozyuk that reinterprets the mythology, nature, and cultural memory of the Carpathians in a contemporary language.

The project has already expanded beyond the scope of the original series. A separate branch has emerged: narrative painting based on vintage Hutsul postcards and photographs. Artists work with the images of people, authentic clothing, jewelry, and details of daily life captured in these materials, reinterpreting archival content through contemporary painting.

Moving forward, “Legends of the Carpathians” plans to organize art plein air workshops and artist residencies, engage new artists, and launch charitable initiatives and cultural events. A future contemporary art gallery is planned to be established at one of the highest points of the PÓTAY territory.

A separate part of the exhibition featured a collection of antique Hutsul postcards and photographs by Volodymyr Kozuk, some of which are approximately 100–150 years old. During the event, the archival images “came to life” on screen using artificial intelligence technology.

At the conclusion of the event, Ihor Ilchyshen and Volodymyr Kozuk presented paintings to the panel participants, including Viktor Yushchenko.

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