First Elektrownia Powiśle tenants prepare to move in

Elektrownia Powisle
Intensive work related to the pending technical commissioning of the first two office buildings is continuing on the construction site of Elektrownia Powiśle.

The first tenants will be able to move into their new headquarters in May and June this year. In addition to the newly built office area, retail and leisure space is currently being created in the former power plant buildings. Luxurious rental apartments and a boutique hotel will be located in the buildings adjacent to the historic power plant. The individual elements of the development will be completed and opened in stages.

The revitalization of Elektrownia Powiśle began in 2016. The ground-breaking took place in May last year. The first stage will soon be ready for use and the remaining works are progressing in accordance with the original schedule.

Elektrownia Powiśle

“The technical commissioning process and procedure to obtain an occupancy permit for the two office buildings has already started, “said Bartek Prytula, Head of Office Development and Leasing at White Star Real Estate, the project’s investor. “The occupancy permit for building B4 is planned for May 2018, and a month later for building B5 (on ul. Zajęcza). The third office building is still under construction. As for the residential part, we will start above-ground construction in May 2018. In both historical buildings—the boiler house and the machine room where retail space is to be located—work on reinforced concrete structures inside the historic buildings is underway, enabling implementation of the new architectural division. Façade and restoration works using recovered antique bricks are also proceeding. All works are proceeding in accordance with the approved schedule by the conservatory office.”

The opportunity to take a historic base and complement it with modern architecture has given the stimulus for one of the most interesting and innovative examples of revitalization in Europe. The location in trendy Powiśle, a district that has been experiencing a remarkable revival for many years, now plays a very important role. The abundant greenery and proximity of the Vistula River attract crowds of Varsovians. The capital’s life is centred here, on the renovated embankment and in fashionable restaurants and cafés. And soon also at Elektrownia Powiśle, a multifunctional development.

According to Dariusz Domański, Development and Leasing Director at White Star Real Estate “As the investor, as well as people closely associated with the capital, we want to give this beautiful, historic space of the former Powiśle power plant back to the residents of Warsaw as soon as possible. But such complex, multi-stage projects, where the revitalization of historic buildings and conservation restrictions are involved, require a lot of tedious work and patience. During the revitalization process, we have to take into account the specific nature of the matter and the interests of our stakeholders, including the public authorities and the local community. Elektrownia Powiśle is a unique project that is changing this part of Warsaw. We believe that our project has the potential to become a real trademark of the modern capital of Warsaw, recognizable not only in Poland but also worldwide.”

Jean-Philippe Blangy, Managing Director – Portfolio and Asset Management, Tristan Capital Partners, said: “Elektrownia Powiśle is a truly unique mixed-use development that capitalises on the heritage and inherent values of the asset. We are delighted that first two office buildings within the complex are to be handed over to tenants, and with the timetable for delivering the retail space, remaining offices and residential units in Q2 2019, and the hotel in Q3 2020.”

Completion of the entire project is scheduled for the end of 2020. Individual parts of the multifunctional project will be finished and delivered in stages.

Source: White Star Real Estate/Advanced Public Relations

May 21, 2018
Positive outlook for prime sub-sectors
The commercial real estate market in the CEE region is currently one of the most…
May 23, 2018
SIOR European Conference will be held in Warsaw
Elektrownia Powisle Intensive work related to the pending technical commissioning of the first two office…
Written by: Monica Zielinski