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Yareal to develop SOHO
Yareal purchased an over 5 ha plot in Praga–Południe known as SOHO Factory from SOHO Development.
In this unique location, Yareal - keeping the character and the spirit of this project already established by the previous owner - will develop a residential complex with 70,000 sqm of usable space, combining post-industrial climate with modernity. The new residential complex will be constructed in line with sustainable development principles. Environmentally-friendly character of each investment stage will be acknowledged by BREEAM green certificate.
Yareal has acquired two extensive parcels of land in Warsaw’s Praga-Południe district, totalling 5.3 ha. New residential investments will be developed on over 8 ha of SOHO Factory complex, located between Mińska and Żupnicza streets. Over the last couple of years, the district has become one of the most popular places for living in the capital city, owing to intensified revitalization efforts on the right bank of the Vistula River and dynamic development of residential areas, among others.
The complex planned by Yareal in SOHO area will be developed in stages and in line with entirely new urban concept. Commercialisation of the new residential complex will commence by the end of 2018 with the first building, which will be located at the intersection of Żupniczna and Chodakowska streets.
“We want to keep the unique character and atmosphere of “SOHO Factory” created by the previous owner. Current and new inhabitants will be amazed by the complex’s unique architecture and atmosphere that combines post-industrial space, modern design, urban lifestyle and comfort of living in a very attractive area. We will bring to this concept the already well-known Yareal quality and standard. I am confident that SOHO by Yareal will become a new important spot for the entire district and Warsaw” – says Eric Dapoigny, CEO of Yareal Poland.
Three historic buildings located in SOHO will be revitalized. Yareal is committed to integrating new buildings with the existing ones, among which brick buildings and post-industrial facilities prevail.
The developer intends to undertake thorough renovation in line with restorer guidelines. Also, the developer is looking to introduce various services, which will supplement the current offering of restaurants, retail and service points, and social infrastructure currently available in SOHO. Over the last dozen or so years of operations on Warsaw’s real estate market, Yareal has gained precious experience in restoring glow to historic buildings. The company’s know-how will catalyse continued buoyant development of SOHO.
A few new residential investments have been so far developed in the area of SOHO Factory, namely on the west and east border of the complex. Yareal has acquired most attractive, centrally located part of the quarter. Mixed-use complex of apartments and upper-standard flats will be developed along its central avenue. First flats will be put on sale next year, and the completion of the entire investment is preliminary planned for around six years from now. Detailed investment schedule will be available after works on the urban concept for the entire SOHO complex have been finished.
SOHO atmosphere
Unique post-industrial and artistic atmosphere of the complex will be the most important feature of SOHO from inhabitants’ and citizens’ perspective. The complex will by dominated by harmonic combination of modernity and historic heritage, as well as comfort of use of flats and common areas.
Yareal will offer a wide range of retail-services functions. At the premises of the current SOHO, there are already popular gastronomic points. This includes BioBazar, market with ecological food, or “Warszawa Wschodnia” restaurant. The offering for inhabitants will be expanded and more diverse in the future.
The already existing SOHO also serves as workplace for businesses and start-ups. Moreover, it’s a venue for inspiring cultural events. The artists’ works can be admired on site at Drama Studio Circle (Studio Teatralne Koło) or at Niewielki Theater. Particularly noteworthy is the Neon Museum, which is Poland’s first museum devoted to post-war lighting advertisements.
Interesting neighbourhood, close to the centre
An enormous advantage of SOHO will consist not only in inspiring space within the residential complex, but also interesting neighbourhood and access to green areas nearby. Inhabitants will also have at their disposal a 58 ha Skaryszewski Park with charming Kamionkowskie Lake (Jeziorko Kamionkowskie). Another benefit of living in SOHO is close proximity to boulevards over the Vistula River, which has become a popular spot for meetings and walks along the promenade. Nearby, there is also Zygmunt Hübner Theater for culture aficionados. In turn, sports and music fans will be able to walk towards the National Stadium, where Poland’s national football team plays its matches, and music and entertainment events are taking place.
Besides attractive location in post-industrial part of Praga district, another advantage of SOHO is very good transportation connection with other parts of the city. In close vicinity, there are bus and tram stops. There is also “Warsaw East” rail station, from where one can conveniently commute to the centre by fast municipal train or reach Chopin airport within hardly half an hour. Moreover, it takes around 15 minutes to get to the centre of Warsaw. The latest project of Warsaw’s third metro line foresees the development of metro station in Mińska street, just a few hundred metres away from the boundaries of the residential complex.
Ecological innovations
SOHO will be developed by Yareal in accordance with the concept of sustainable development. Smart home system will additionally take care of comfort of the inhabitants. What’s more, the complex will be certified with prestigious BREEAM system that acknowledges the fulfilment of highest quality standards and demonstrates pro-ecological solutions applied in the buildings construction.
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