In line with a previous declaration, Cavatina has purchased a plot located in the center of Warsaw at Chmielna Street 75. The group intends to propose an impressive mixed-use project, with a dominant housing function, to the city and its residents. This project is designed to fit in perfectly with the evolving urban fabric and expand it with new roles. The transaction is valued at over PLN 145 million.
The concept of a sustainable, city-open multifunctional investment on over a hectare plot assumes the expansion of the mix of flats and service and commercial points with creative and recreational spaces.
“Chmielna 75 is an address that deserves a bold, modern space concept prepared for the future. In designing it, we use our best practices gained in the construction of other investments, while also analysing local conditions. This investment will also be the largest residential project in Cavatina Holding’s portfolio to date. Besides other functions, we see the potential here for 40-50 thousand square meters of usable floor area,” says Rafał Malarz, President of the Management Board of Cavatina Holding.
Cavatina Holding, having handed over more than 300,000 square meters of high-class office space for use, is also expanding its operations to include residential investments. The company’s portfolio includes the WIMA Widzewska Manufaktura B and C projects under construction and the Belg Apartments in Katowice, which started in November this year, which together will bring about 650 flats to the market in 2024-2025.
“Strong demand in the market for high-quality residential projects means that we are increasing our involvement in this sector, working in parallel with our sister company, Resi Capital, as a sales operator. At the same time, the high profitability of this segment and an attractive cash flow layout will have a positive impact on the Group’s liquidity. In addition to developing new projects, such as Chmielna 75, we are analyzing our project portfolio for a potential change of their use to apartments,” explains Daniel Draga, Vice President of the Cavatina Holding management board.
Cavatina Holding is continuing work on a detailed concept for the mixed-use project and wants to consult it with the appropriate city authorities and other entities. The final outcome of these efforts will have to wait. The priority is to propose a space available to everyone. The preliminary visualizations presented in autumn, however, show the developer’s thinking direction and the complex’s atmosphere he intends to create here. Buildings varying in height – from multi-story to a high-rise tower will surround a green, functional courtyard.
The developer will use his vast know-how in combining multiple functions and arranging attractive and green common areas in this project. The metropolitan character of Al. Jerozolimskie, the neighborhood of Chmielna 89, Warta Tower, and further Varso, the tallest building in the EU, justify proposing a height dominance.
