Finnish developer YIT has acquired land for a major residential project in Warsaw, which will exemplify the increasingly popular co-living housing concept. Called Smartti Mokotów, the planned scheme will be located at the intersection of ul. Postępu and ul. Domaniewska in the Mokotów district of the city and will comprise almost 1,000 apartments. Apart from housing units, the development will include co-working space, retail and service areas, reading rooms, gyms and a rooftop football pitch.
Construction work on the Smartti Mokotów investment is scheduled to launch in the final quarter of next year. The first phase of the project will offer 334 units and nearly 1,500 sqm of non-residential space, and is targeted at individual buyers who will be able to both use the units for their own purposes and rent them out. The second phase of the scheme will comprise 601 units and more than 3,800 sqm of non-residential space. YIT plans to develop that phase in cooperation with an institutional partner.
YIT has to date completed two phases of its Nordic Mokotów residential development in Warsaw, which comprise a total of 216 apartments. The developer will start building the third phase of that investment (with 124 housing units) in early 2019. At the moment, the company is developing the first two phases (a combined 147 apartments) of the Aroma Park project in the city. In Q2 2019, YIT will launch the first phase of a new scheme in the Polish capital, which will be called Parkur Residence and will comprise 400 units when fully developed.