Revitalization of the historic Branicki apartment house on Smolna 40 Street in Warsaw will be made with financial support from the JESSICA Initiative, implemented within the frames of Mazovian Unit of EU Programmes Implementation for the period 2007-2013. The contract concerning this investment was signed on 11 March this year by Dariusz Kacprzyk – the President of the Management Board of BGK and Roman Stanisławski - Member of the Management Board of the company Galeria M, which will implement the investment.
Thanks to low-interest and long-term loan, the apartment house in the very centre of Warsaw, listed in the register of monuments, will be adapted to office use. There is also a plan to create space dedicated to cultural activities of Warsaw. The investor has signed the letter of intent with the City, under which a part of the space will be freely available to a chosen non-governmental organization.
In addition, the surroundings of the building will be also developed. The investor will create green areas, renovate traffic arteries in the immediate vicinity of the building and restore the toll gate. These endavours strengthened the justification behind supporting the investment by the funds from JESSICA Initiative, which assumes that financed projects should combine commercial aspect with social features, desirable from the point of view of the local community.
The project will cost 52.28 million zloty. The loan within the frames of JESSICA Initiative will be granted at the amount of 16.87 million zloty, and the interest rate was established at 1.9 percent.