A special purpose vehicle of the Hochtief Group has entered into a public-private partnership for the design, construction, financing, and maintenance of four multi-family residential buildings with the Municipality of Zory, in southern Poland.
According to Hochtief, the deal represents “the first construction of a housing estate in Poland carried out in the public-private partnership formula.” Hochtief reports that, “as part of the task … the City of Zory will obtain the necessary funds for the construction and maintenance of the facility. The Private Partner (Hochtief PPP Inwestycje Polskie Sp. z o.o.) will prepare the design documentation, carry out the entire construction process and will be responsible for maintaining the investment for 20 years.”
According to Hochtief, “the main role will be played by Hochtief Polska. Our task will be to develop design documentation along with obtaining a building permit and to carry out construction works and obtain an occupancy permit. The design part is planned for nine months, and 27 months for the implementation part.”
Once complete, the complex will consist of four nine-story buildings with an underground garage. The above-ground floors will have both residential and commercial premises, additional above-ground parking spaces with an access road, sidewalks, squares in front of service premises, a playground, recreation areas, and green areas, as well as all necessary technical infrastructure (including sanitary, water, energy, gas, and telecommunications installations, as well as rainwater drainage and retention and external lighting).
The project will eventually host 405 apartments with 617 parking spaces and five commercial premises. The facility will consist of approximately 42,000 square meters.
The DLA Piper law firm advised the Hochtief Group on the deal, with the Cieslak Law Firm advising the Municipality of Zory.