Urban renewal in numbers

The Second Life of Buildings Initiative, which brings together experts from various areas of the real estate market and focuses on urban revitalization and renovation projects across Poland, has recently launched what is arguably the country’s first comprehensive report on the matter. The study includes, among other things, figures that well illustrate the scale of the ongoing and planned regeneration schemes in Polish cities, carried out by both municipal authorities and private investors.

For example, according to the authors of the report, the total area covered by current revitalization programs in six of Poland’s biggest cities – Gdańsk, Kraków, Łódź, Poznań, Warsaw and Wrocław – amounts to 8,720 hectares. When it comes to the value of those investments, in Łódź alone the renovation of 145 townhouses and a number of streets and squares, as well as the creation of new walkways in the downtown of the city is to cost a total of PLN 980 million.

As for private initiatives, the combined value of 29 major revitalization projects (the most of which are located in Warsaw) that are now being built by developers amounts to PLN 7 billion, the report said. Private investors are currently developing a total of approximately 1.8 million sqm of space within revitalization schemes in Poland with new and renovated historic buildings accounting for 62 percent and 38 percent of the volume respectively. A combined 316,000 sqm in 16 such developments is scheduled to be completed this year.

More information can be found at drugiezyciebudynkow.pl.

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