Jupiter Plaza struggles to obtain financing

About five years ago the limited company of Jupiter Plaza presented plans for a residential and office complex to be erected at 18 Sokolska St. Despite of confident declaration, works on the investment have not kicked-off during the years and most people gave up on the project. However, the investor did not.

The plot on Sokolska St. was bought by the investor in 2007 for PLN 11,2 million. In the turn of 2008 and 2009, the developer obtained a valid building permit and launched procedures to choose a prime contractor. Though, the economic downturn and lack of bank financing made the construction work impossible to start. The undertaking was estimated to cost approximately PLN 150 million.

According to the representative of Jupiter Plaza Sp. o.o., the company still owns the plot and wants to raise the tower in accordance with the presented design. “The investment depends on bank loans. The firm has been trying to get the financing from the banks for the last years but the situation on the market is difficult. Nevertheless, we still apply for the financing and we do not abandon the project”.

Jupiter Plaza was designed by the architect Wojciech Wojciechowski. The planned tower is 110 meters high and has 33 floors. It covers a total area of 46 000 sq. meters divided into a residential space for 241 apartments, 3 700 sq. meters of office spaces, a retail part, ground and underground garages.

© Jupiter Plaza Sp. z o.o., architectural project of the building
© Jupiter Plaza Sp. z o.o., architectural project of the building