Conservator comes to terms on Fredry project

It looks as if one of Warsaw's first commercial refurbishment projects may have finally worked out some of the problems which stalled the project late last year. City Conservator Teresa Wyszynska said last week she was ready to sign off after three minor adjustments were made on the refurbishment proposal for the building located at ul. Fredry 6 next to the Grand Theater. Many property professionals, after reading some of Wyszynska's comments in the local press about "barbarism" and the like, had assumed that the troubled relationship between the conservator and Gabriel Lisowski, manager of the refurbishment, would certainly mean death to the project. The fact that she is ready to approve the refurbishment plans doesn't mean the two are on good terms. But it does seem that the tide has shifted and the time for high-profile name calling and accusations has seen its day. Wyszynska said that Lisowski had broken the law by failing to inform her of the building's purchase - some would say that's the seller's, not the buyer's responsibility - and then for starting work without obtaining permits first. On the last point, Lisowski left himself more open to charges. "As long as Mr. Lisowski continues to follow the law, I'm willing to do everything in my power to work with him on seeing this building restored in a proper way," Wyszynska said. Although Lisowski admits that some mistakes were made, he said that much of the initial controversy arose from a simple difference of opinion in interpreting the law. With so little refurbishment going on, this is understandable. Just when it seemed that this was just a typical conservator-developer match of will, another actor - or maybe actors - came forward from behind the scenes. One of those is Antoni Feldon, Head of the Association of Polish Industrialists, who has been working on behalf of the Rotwand and Wawelberg families. These families have registered a restitution claim on the building and have offered to buy Lisowski out. Feldon described the situation: "If you have two boxers (the government and those seeking restitution) in a ring and someone from the public jumps in, they both will hit him." I'm not exactly sure what Feldon meant, but he did give the distinct impression in several conversations that his group was working actively to get the building back for the original owners and that he had many friends who could help him accomplish this. But now that the project seems to be moving forward - restoration work is expected to commence this week - Lisowski says that Feldon will have to "realize that he can only be a part of it and not take over the whole." Lisowski says that this will not be his only project in Warsaw, and with the experience gained from this one he feels that the others will go more smoothly. "She was right about certain aspects of the project," says Lisowski. "Next time I'll be sure to work more closely with the conservator's office." Bouygues goes Baroque It's finally been confirmed. French construction giant Bouygues has won the tender for the site across from the Grand Theater, and has received planning approval. One of the stipulations of the tender was that the developer would construct the new building with a Baroque facade to help restore the old feel of what was one of the most beautiful areas of pre-war Warsaw. The building will comprise approximately 15,000-18,000 square meters of space and rumor has it that Citibank could be one of the first tenants to sign on to the scheme. Healey & Baker on the move A little over a month after buying out PSI Poland, Healey & Baker have reported their appointment as leasing agents of a new business park currently under construction at the west end of Al. Jerozolimskie, five kilometers from the city center. The complex, to be completed in stages, is being developed by Mahler and will comprise 36,000 square meters of office and residential space. Richard Petersen, recently made partner at Healey & Baker as part of their purchase of PSI, says that they will be marketing the project to end-users with larger space requirements. The rental level will be around $22-$25 per square meter, making it half the price of many other downtown developments. Insurance companies: Spread out? Commercial Union announced at last month's topping-off ceremony for Skanska's Atrium Business Centre development that they will be taking 2,300 square meters in the building. This is a substantial increase on their current space of 700-square meter spread between ul. Bagatela and ul. Krolewska. Local realtors say that if many insurance companies are looking to expand in this way, it could bode well for many of the projects currently in varying stages of realization in the city and have a definite influence on the demand side of the property equation. Commercial Union will be joining Reuters and Arthur Andersen on the office side, and Royal Collection clothing store will be taking retail space on the first floor. Jeremy Cracknell, letting agent with Henry Butcher, said that the building should be at least 80%, and perhaps 100% leased by opening day.