Revitalizing Wałbrzych
Investment fund Octava and developer Redis will construct a 100,000-sqm shopping center at the intersection of ul. Wysockiego and ul. Lubelska in Wałbrzych. The delivery of the planned investment, whose value is estimated at E100 (zł.351) million, is scheduled for autumn 2010.
"We have decided on this location because of the fact that Wałbrzych, whose population amounts to 120,000, is the second-largest city in the fast-developing Lower Silesia region. A crucial asset [of the location] is also its proximity to the border crossing with the Czech Republic as well as the neighboring cities such as widnica, wiebodzica and Szczawno-Zdrój," said Piotr Rymaszewski, head of the management board at Octava.
Octava and Redis' as-yet-unnamed project will provide 41,000 sqm of leasable space that will accommodate 180 shops and boutiques for premium Polish and foreign brands. The building's underground parking lot will offer 1,500 parking spaces and a multiplex with at least five screens will also be included in the development. The design for the project was prepared by a consortium of architectural firms comprising YG Projekt and Lemay Michaud International.
According to Wałbrzych's authorities, the planned investment has a chance of improving the city's public space. "The building of the retail park will fit well with the urban space and its superb location will enable revitalization of the city center, which is what we are especially interested in," said Wałbrzych Deputy Mayor Marek Małecki.
The Wałbrzych investment is not the first joint retail scheme for Octava and Redis. The companies are already owners of the 74,000-sqm Magnolia Park in Wrocław, the largest shopping center in the Lower Silesia region, and they plan to expand the center in the near future.
