Gdansk closer to the realization of the biggest waterfront project on the Baltic seacoast

Lagt online 30.07.08

The President of Gdansk and the Danish investor group, Baltic Property Trust, signed a preliminary agreement Tuesday covering a joint investment in the construction of New Wałowa street in Gdansk Young City - the post-industrial Gdansk Shipyard areas.

The street is a central part of the Young City project. Thanks to the agreement, Young City, the biggest waterfront project in Poland and Baltic Sea region, will have modern infrastructure by 2011. The agreement covers construction of the fi rst part of the New Wałowa street as well as the preparation of related parts of the city infrastructure. The agreement will be put to the vote at the Gdańsk City Council meeting on the 28th of August 2008. The New Wałowa street will be the main communication axis of Young City. The net cost of the joined investment amounts to 105 million PLN of which Baltic Property Trust will cover more than half.

- This agreement is an important milestone in our joint vision with the City of Gdansk to bring the Young City to life. With the central infrastructure in place, we can continue to develop the area into a vibrant new city district. This will not only be of great benefi t to future investors but also to the citizens of Gdansk,” declares Tomasz Tromer, BPT Country Director Poland.

The investment will allow the inclusion of the Young City area in to the city. All over the world, waterfront revitalization is a popular trend, and in Europe alone there are about 100 similar projects. Among the shipyard cranes, there will be elegant lofts, modern offi ces, stylish restaurants, prestigious hotels and cultural objects. The original, valuable buildings of the shipyard will be renovated and several new buildings of the highest quality will be constructed. The historical events of the 80s that originated the dismantling of the communist regime will be commemorated with the building of a new European Solidarity Centre and the Road to Freedom. The architectural project of the New Wałowa street and its connection with Jana z Kolna street will be ready by the end of 2008 / beginning of 2009. The project will be prepared by Ramboll Polska and the Gdansk Offi ce of Municipal Engineering Projects. The construction will be fi nished by in the atumn of 2011.

For additional information please contact Baltic Property Trust Mr. Tomasz Tromer Partner and BPT Country Director Poland Phone: +48 58 767 79 99 poland(at)balticpropertytrust.com

Illustration: The Young City project will comprise more than 1 million sq.m. of development.

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