There has been a lot of buzz about one of the latest investments by the development company OKAM, which bought 62 hectares of post-factory land with the aim of revitalizing it. We are talking about the space of the former Passenger Car Factory in Żerań, Warsaw. The investor boasts of the "historic transaction," but reveals neither the amount for which the plot was bought, nor the plan for its development.
At the end of July, OKAM announced its latest investment, at the same time calling it "a historic transaction on the Polish real estate market." Not without reason, as the purchase of 62 hectares of post-factory land in Warsaw's Żerań can confidently be counted among the largest investments of its kind in the capital and the country.
The former factory occupies an area from the Vistula River to the railroad tracks in Pelcownia. On its eastern side are the post-factory halls with an entrance gate characteristic of the facility and the inscription "FSO Passenger Car Factory" . On the western side, in turn, we have a test track connected to the factory by a tunnel. The last car was produced there in 2011.
A multi-stage and multi-year investment
Arie Koren, CEO of OKAM, points out that the development of the purchased site of the former factory will take up to a dozen years.
Our investment in Żerań will be among the largest projects of its kind in Warsaw, next to, for example: Miasteczko Wilanów, where, however, in contrast to OKAM's investment, projects were carried out by several or more than a dozen developers. This will allow us to fully enhance this space and create a place where current tenants, with whom we want to continue long-term cooperation, and future customers will be able to feel safe and fully benefit from the potential of this place, especially in such an excellent location, " adds Koren.
At the same time, it is worth mentioning that this is not the first time OKAM has invested in brownfield sites. Previous similar investments include the BOHEMA-Strefa Praga development in Warsaw's Praga-Północ, where the Pollena-Uroda factory once operated, or ŁÓDŹ.WORK, the site of the former Teodor Meyerhoff factory.
investment cost and land development a mystery
Although OKAM announces that the site will undergo a thorough revitalization, at the moment it does not reveal a fraction of its development plan, which only fuels speculation. At the same time, the developer assures that the project will be developed based on public consultation.
At this point it is too early to indicate what exactly will be built on the plot. This is because, given the size of the site and the scale of the investment, the preparation of the detailed concept itself will be spread out over the next few years. We will certainly want, as part of the revitalization of this post-factory area, to combine modernity and the future with the site's historic past. Implementation of the project will be preceded by consultations with interested parties, including current tenants ," Sylwia Majcher-Stępień of the PR agency serving the investor told Gazeta Wyborcza.
What could be built on the post-factory site? According to many speculations, another residential development, which is what OKAM specializes in. This is very possible, since as a result of recent changes to Warsaw's zoning study, the city hall has allowed the construction of housing estates on the site, among others.
What's more, a preliminary concept for such development has even been prepared by the Dawos studio on behalf of City Hall. According to it, the area is to retain its post-industrial character. The space will be arranged, among other things, to house cultural institutions, offices, retail and service establishments, as well as the aforementioned residential development.
Preliminary concept for the development of the site of the former car paint factory in Zheren
vision: Dawos
Preliminary development plan for the site of the former car dye plant in Zheren
© Dawos
OKAM also did not make public the amount for which the site was bought, citing the principle of commercial secrecy.
elaborated: Katarzyna Domagała
