With Wola emerging as Warsaw’s new CBD, its luxury residential market has been jump started by the office boom. Of the benefactors, the Art Deco Wola Apartment block stands out as the most ambitious. Artur Tłustochowski, the CEO of the investor and developer, Terra Casa, takes up the story
The projects in your portfolio all have a distinct personality. What was the thinking behind the Art Deco apartments?
In the case of Art Deco, we combined two styles of architecture: the classic Art Deco look of 1920s Chicago, and the more streamlined version we saw appear in 1930s Warsaw. The link with Chicago is twofold – not only does it have the highest concentration of Poles outside of Warsaw, but it’s also Warsaw’s first ever sister city.
How does Art Deco slot into the firm’s philosophy?
At Terra Casa we look to create high quality projects that fit into the neighborhood: to do so we conduct an
in-depth analysis to find an architectural solution that’s right for an area. We treat each individual development as if it were our flagship product, which means a lot of attention to detail as well as a big focus on new technology. That’s meant installing intelligent building systems and ultra-fast fiber internet fitted in each apartment, LED lighting and electric car chargers in the garage. We’ve had 19 years of experience on the market, with the last 12 focused on luxury developments. This isn’t a huge firm and neither are our projects, but that allows us greater flexibility to concentrate on perfecting the design and the final product.
The location is being touted as the CBD of the future.
We’ve always had great faith that this area would become Warsaw’s CBD, as planned by the City. A few people initially had doubts that the district would take off, but now we’re seeing its rapid growth: the second metro line has helped, office blocks have been finished and even more are underway. Companies that used to have several offices around Warsaw are now consolidating and moving to Wola while others are relocating from abroad. That’s all driving the area. When you have an office boom like that, an area needs proper supporting functions – places to eat, places for entertainment and, of course, places to live. It’s the best time to invest in Wola, as the district is predicted to increase in value in the next few years.
So your target audience is the people working in these new offices.
In the past, professionals aspired to live in the suburbs. Now, across the globe, people are moving back to city centers. People have less time than ever so they want to be closer to their workplace, closer to restaurants, shops and schools. We’ve had to examine the lifestyle of our potential buyers and meet their needs. Typically, we’re expecting take-up from people in the 30-40 age bracket who’ve been relocated to Warsaw by their work. To suit their demands we’ve got a gym, a green roof terrace with an incredible view accessible to every resident, as well as the latest eco-friendly technological advancements.
Where does Poland’s luxury residential market stand in comparison to ‘Western’ Europe?
It’s still very much in its early stages with the main markets found in Warsaw, Kraków and Sopot. A few projects have been really successful but others have been less so. However, there’s great scope for the future: the Polish population is growing richer year by year. Already, we’ve noticed that clients are becoming more and more demanding. They want more for their money. As a company, that pushes us to better ourselves with each new project.