Piękna 44 beautified
The Piękna 44 property, located in the capital's central business district, was built in 1880. After restoration, the building will comprise 31 luxury apartments featuring two-meter tall windows and ceiling heights of three meters.
Residents will have access to a private garden and an underground parking garage. The size of the apartments will range from 46 to 129 sqm, with prices ranging from zł.14,000 to zł.20,190 per sqm. Construction is scheduled to commence in December and completion is planned for Q1 2010. Restaura Piękna 44 was designed by Anna Rostkowska's Proart studio.
The entire revitalization process will involve renovation of the building, construction of an additional floor and an underground parking garage. Reconstruction of the west wing, which was destroyed during World War II and never rebuilt, will also be carried out.
The steps of two staircases will be covered with white Carrara marble and the landings will be covered in white marble and black granite. Two old-style elevators will be added to the building. Every apartment will feature a stylized door and decorative portals above. All of the construction work will be supervised by Warsaw's Heritage Protection Department.
Despite the slowdown on the residential market, Restaura is confident that its project will be successful. "The luxury market is slowing, but to a lesser extent than the popular market," said Paweł Augustyn, managing director for Poland at Restaura Group. "A customer buying a luxury apartment really carefully weighs his decision. He's buying in order to live in this project," he added.
Restaura's pipeline includes housing restorations in Barcelona, Madrid, Paris, Lisbon and Berlin. This year alone, the company has dedicated about EUR120 (zł.396.5) million to investments in Poland.
