{"id":1004083487,"date":"2013-09-12T06:32:32","date_gmt":"2013-09-12T14:32:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004083487"},"modified":"2022-12-07T16:37:53","modified_gmt":"2022-12-08T00:37:53","slug":"immofinanz-continues-m-f-development-in-poland-with-new-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/immofinanz-continues-m-f-development-in-poland-with-new-project\/","title":{"rendered":"IMMOFINANZ Continues M-F Development in Poland with New Project"},"content":{"rendered":"<p><i>By Eliza Theiss, Associate Editor<\/i><\/p>\n<div id=\"attachment_100408\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/Poland.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-100408\" data-attachment-id=\"1004083489\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/immofinanz-continues-m-f-development-in-poland-with-new-project\/poland\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/Poland.jpg\" data-orig-size=\"640,360\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Poland\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/Poland.jpg?w=640\" class=\"size-medium wp-image-1004083489\" alt=\"Poland\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/Poland.jpg\" width=\"300\" height=\"168\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/Poland.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/09\/Poland.jpg?resize=300,169 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-100408\" class=\"wp-caption-text\">Riverpark rendering<\/p><\/div>\n<p>Leading property company IMMOFINANZ Group has started another foray into Poland\u2019s multi-family market with the development of Riverpark, a 189-unit project in Pozna\u0144. This comes after the success of Debowe Tarasy, a three-phase multi-housing project in Katowice, it\u2019s currently developing.<\/p>\n<p>The Austrian Stock Exchange-listed company has just announced starting construction on the approximately $23.6 million (\u20ac18 million) Riverpark, set to rise in the city of Pozna\u0144, Poland\u2019s fifth largest city and one of the main higher education and commercial hubs of the country. The 127,573-square-foot project is located south of the city center and will target professionals, students and young families \u2013 generally an audience looking to leave the suburbs for a closer proximity to the city center\u2019s hub of activity. As such, it is located in an area with convenient connections to public transportation as well as schools and parks. It is also close to the Warta River and offers riverfront views and access to green spaces.<\/p>\n<p>Riverpark will be composed of two five-story buildings comprising 160 condominiums and three three-story townhouses totaling 29 units. Underground parking will be available at each structure, amounting to a total of 198 parking spaces. More than 3,500 square feet of commercial space will also be created. All residential units will have balcony\/terrace or garden access, as well as separate storage units.<\/p>\n<p>Riverpark is expected to complete in the first half 2015.<\/p>\n<p>IMMOFINANZ Group has experienced success with a previous condominium projects in Poland with Debowe Tarasy III. The project, the third phase of Debowe Tarrasy or Oak Terraces, is currently under development in Katowice, Poland and features 317 condominiums. Expected to finish in March 2014, it has already sold 100 units. Its offerings are similar to those of Riverpark: proximity to the city center, infrastructure, public transportation, employment opportunities as well as green spaces, being just a short distance from Silesia Park, Europe\u2019s largest urban park.\u00a0 Onsite amenities also resemble, Oak Terraces , offering underground parking and extra storage space. Phases I and II of the project comprise 509 units and are all completed and sold out. Oak Terraces Phase III is Katowice\u2019s largest residential project.<\/p>\n<p>\u201cSimilar to other countries in Eastern Europe, there is substantial pent-up demand on the housing market in Poland\u201d, said IMMOFINANZ Group COO Daniel Riedl. \u201cOur projects are focused on large-volume condominium construction for the emerging middle class.\u201d<\/p>\n<p>IMMOFINANZ Group\u2019s Residential East segment, consisting of residential construction activities in Eastern Europe, had a carrying amount of $328.7 million (\u20ac250.1 million) at the end of April 2013, of which\u00a0$67.5 million (\u20ac51.4 million) were in \u201cin development\u201d projects and \u00a0$261.2 million (\u20ac198.7 million) in pipeline projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Leading property company IMMOFINANZ Group has started another multi-family development in Poland, called Riverpark, a 189-unit project in Pozna\u0144.<\/p>\n","protected":false},"author":49,"featured_media":1004083489,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,16,21742],"tags":[],"class_list":["post-1004083487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-international","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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