Brand new brew
American firm Clairmont Global is to invest in Wrocław through its wholly owned subsidiary Alto Investments. The company will renovate the Piastowski Brewery (Browar Piastowski) and adapt it into a modern, mixed-use residential and service building. It hopes the newly renovated building will become a major tourist attraction in Wrocław.
Conservation of the historic elements of the buildings is a priority for the investor. "[The monumental character of the buildings] will create the atmosphere of the whole development, which we hope will become a trademark of Wrocław," says Piotr Olbry, managing director of Clairmont Global's Polish operations. "We hope that when the whole project is completed, the brewery will be a meeting point for both residents and tourists," he added.
The renovation of the Piastowski Brewery, which is located in the heart of Wrocław, will begin in 2008. The investment represents Clairmont Global's first project outside the United States. The president of the company, Jim Tyler, says that this is a giant leap for Clairmont Global. "The investment plans in Poland are an extremely important project for us, and the outcome of this will determine our position and plans for further investments in Poland and on the European market," he stated.
Clairmont Global is a joint venture of two American partners, the Hanover Company and insurance firm MetLife. The firms have been strategic partners since 2000 and together, they have developed over 47 properties with a total value in excess of $2.8 billion (zł.7.9 billion).
Chris Gotowski
