We are pleased to announce that on November 22, 2019, a public-private partnership agreement was signed between the City of Gdańsk and the company GGI Dolne Miasto spółka z ograniczoną odpowiedzialnością sp. k. (limited partnership), which was created by a consortium of Euro Styl S.A. and INOPA S.A. (joint stock companies). Signing of the contract is the end of the procedure of selecting by the City of Gdańsk a private partner for the implementation of the project called “Development of the area of the former tram depot in the Lower Town of Gdańsk”. The Law Firm advised on this process at every stage, starting from establishing a company which is currently a private partner, through the preparation and submission of an offer, negotiating the final shape of the contract to signing it.
The total value of the project is estimated at no less than PLN 277 million net, including approximately PLN 51 million net will be allocated for the implementation of public investments, including: a new kindergarten, a local activity center, a modern sports complex, roads and pedestrian routes, development of green areas for a new place for meetings, rest and recreation. Commercial investments will be made on real estate that the City of Gdańsk sells to a private partner as its own contribution to the venture.
As part of the project, GGI Dolne Miasto will design, finance and implement public and commercial investments in the Lower Town, complementing the revitalization activities implemented by the City of Gdańsk. In the areas covered by the project, in accordance with the conditions of the procedure and respect for the historical value of the Lower Town, new residential apartments, commercial and commercial premises as well as recreational and green areas will be built. As a result of renovation and adaptation, the former splendor will also regain several destroyed and currently unused buildings.