Capital Park S A : Obtains Permission for Another Revitalisation

The Capital Park Group has received permission to modernise a historic 19^th-century tenement house in the centre of Szczecin. The neglected vacant building will become, in accordance with its original purpose, a prestigious residential building with 62 high-class flats designed by the architecture firm Dedeco.

The Warsaw-based developer Capital Park Group has decided to breathe new life into another historic building. This time, it will revitalise a historic tenement house in the very heart of Szczecin at the charming Aleja Fontann - Avenue of Fountains on Grunwaldzki Square. The three-winged neo-Baroque tenement house was erected at the end of the 1890s. After World War II, it housed a municipal clinic which operated until the early 21^stcentury, but the building has been vacant for the last 20 years. A distinctive feature of the tenement house is its façade varied with bay windows. The historic two main staircases have been fitted with wooden steps and massive carved balusters. The floors are tiled with multicoloured ceramics. Some painted compositions have been preserved, including those covered with a layer of gilding. The building is listed in the municipal register of historical monuments. The revitalisation project includes the preservation of the original façade with all its architectural details referring to Baroque forms as well as the two staircases due to their high artistic value. The main entrance will feature the restored original entrance gate. The restoration process will be carried out in consultation with the Szczecin conservation officer.

"Projects with history and soul are the ones we like best. On the one hand, they are a huge challenge and involve enormous responsibility; on the other hand, the end result is truly satisfying. We are delighted that after the historic tenement house in Toruń's Old Town, the Hampton by Hilton Old Town hotel in Gdańsk and the Norblin Factory in Warsaw, we will have the opportunity to recreate a beautiful 19^th-century tenement house and, as intended by its creators, found a unique place to live. The new residence will be a showpiece at this unique location. We are looking forward to the start of work," said Sylwia Filewicz, Head of Development & Construction Department at Capital Park Group.

The revitalised building will house the Avenue of Fountains Residence offering 62 high-class flats with a total usable area of approx. 5,600 sq. m on six above-ground levels. The height of some flats will exceed 4 metres. A two-storey underground garage with 61 parking spaces will be a unique feature addressing the needs of future residents, rare as it is in properties of this kind. Architects from Dedeco are responsible for the modernisation project of the Avenue of Fountains Residence.

Grunwaldzki Square, where the development is located, also functions as a park. It is the largest and most spectacular urban layout of its kind in Szczecin. It was designed in the 1860s by German engineer James Hobrecht following the model of Paris urban design. The City Hall and the University of Szczecin are located in the vicinity of the development.

"The location of the tenement house in the most attractive part of Szczecin requires us to create a building with a very high utility standard. Our basic design objective is to create exclusive flats which meet the highest standards of demanding contemporary residents. However, everything needed to create the exceptional character of the apartment building is already here. The key to success is prudent revitalisation, balanced intervention, and adaptation to new contemporary needs while respecting the site's legacy. The end result will be a building with extraordinary qualities and a unique atmosphere," said architect Izabela Błaszkiewicz-Koza of the Dedeco architecture firm.

The Capital Park Group acquired the tenement house from the previous owner in 2022. The Avenue of Fountains Residence is the first revitalisation project carried out by the Warsaw-based company in Szczecin.

During its 20 years of operation, the Capital Park Group has closed more than 140 investment transactions worth PLN 4.25 billion and completed 320,000 sq. m of space in office, retail, residential and mixed-use projects. The company has created investment projects including the Norblin factory, Royal Wilanów, Eurocentrum Office Complex, and the Street Mall Vis à Vis retail park chain. Currently, in addition to the Avenue of Fountains Residence, the company is preparing two more projects for implementation: a residential investment in Gdańsk at Polski Hak and a mixed-use city-creating project Nowy Wełnowiec on a post-industrial site in Katowice.