Although the inhabitants of Warsaw are to experience some impediments related to the expansion of the Warsaw Metro on the axis east-west in the nearest years, the great majority of them believe that this investment will definitely enhance communication comfort and quality of their life. According to the assumptions, there will be three new stations on the two banks of the Vistula in 2019.
Undoubtedly, the extension of the second line of metro has already had a great impact on development of this investment, however, this impact is different depending on the banks of the Vistula. The great majority of the projects in Praga are residential investments. A lot of them include revitalization of former industrial buildings such as Koneser Praga Center of Projekt Bohema (the alternative name for the investment is Lofty Szwedzka). What is more, other smaller projects are also implemented, for instance, the revitalization of the old tenement houses in Praga district.
The extension of the Warsaw Metro will also change the other bank of the Vistula. Grupa Waryński, for instance, commissioned EQlibrium last year, LC Corp plans building of Wola Retro, whereas City Level – Vector Plus. The presence of metro in Wola resulted in a number of new office investments which have already found tenants. The further expansion of developer is expected due to the extension of the second line, however, it will have another, more commercial, character than the one in Praga – explains Łukasz Jędrychowski, Senior Property Broker of Nuvalu Poland, consulting agency on the commercial real estate market. This further expansion of metro will result in increased business activity of investors in Wola district, however, the owners of the older buildings can also benefit from the economic situation concerning office space in Wola. The flow of new tenants as well as the intense marketing activities related to business development of Wola constitute a great occasion to revive the slightly forgotten offices. They can still be an attractive offer for tenants with a proper approach to revitalization and modernization. The owners of such buildings as G9 (former Victoria) or Renaissance Tower, which have recently been thoroughly modernized, already benefit from this situation. Their two big assets are: an attractive location and profitable lease conditions – explains Łukasz Jędrychowski.
Is Wola going to be the second Warsaw’s Mordor? This is a question asked by many inhabitants of the capital. However, according to Łukasz Jędrychowski, it is not going to happen: Wola has a strong and historical city structure. New office investments do not displace residential development, they are situated on plots which have not been developed yet or which have already had industrial development (such as the areas of the former Róża Luksemburg Electric Lamps Manufactory at Karolkowa Street). There are many new residential projects – Bliska Wola, Dobra Wola, Intenso, Espresso, or Stacja Kazimierz. The company related to PKP is planning to build 25 thousand housing estates in Odolany. Developers fight for plots with commercial investors, thanks to which this part of the city develops really harmoniously, without an evident dominance of one form of development or another. There is a new friendly space in the city with many service points and green areas. Therefore, we can expect extension of infrastructure for inhabitants, for instance, schools, kindergartens, sport facilities, or parks.
Communication is one of the impulses which favor development of certain regions of the city. Development of metro favored Wola and this process can be noticeable in other parts of the city. As Łukasz Jędrychowski envisages, we can expect an investment boom in every place with an access to metro.