Echo Investment changes former Karol Scheibler’s factory

Adding date: 13.02.2019 | Poland

Soon, former Karol Scheibler’s factor on Tymienieckiego street, in Księży Młyn neighborhood, will become an open and friendly part of Łódź, a comfortable for living, work-inspiring and leisure-attractive place. Its developer, Echo Investment, starts the revitalization of this post-industrial compound. Today, Nicklas Lindberg, chief executive officer at Echo Investment, in the presence of Hanna Zdanowska, the Mayor of the city of Łódź, presented a project of the investment.

Implementation of the so-called ‘Destinations,’ i.e., city-building projects, the whole neighborhoods of cities where people can work, live and spend their free time, with respect for the history of the areas concerned, is the cornerstone of Echo Investment's strategy - said Nicklas Lindberg, chief executive officer at Echo Investment. - The investment at Tymienieckiego Street in Łódź covering almost eight hectares of land occupying the former factory of Karol Scheibler, with the historic power plant at the center.”

- There is no need to convince anyone of the uniqueness of Księży Młyn. This "city in the city," or Karol Scheibler's factory-residential empire, has an extraordinary scale not only in Poland but also in Europe. Księży Młyn is changing; new apartments, office buildings, and restaurants are being created in old factories. The city renews the workers' housing estate, and the Academy of Fine Arts turns a former school into a design center. I am delighted that the next part of the former Scheibler's empire will turn into a vibrant place, and this task has been undertaken by a well-known and respected company - Echo Investment - added Hanna Zdanowska, the Mayor of Łódź. 

The investment will be carried out at 7.7 hectares area. Echo plans to build about 90,000 sqm. of residential, office and service space as well as gastronomic, commercial, service and cultural facilities. The area will provide living and working space for about 6,000 people; it will also become a meeting and entertainment spot for guests and tourists. Everyone will have at their disposal such facilities as parking spaces adapted to car-sharing services, bicycle paths, bike service stations, parcel locks or publicly available electric chargers.

-We have the ambition to make this project an integral part of Łódź - says Waldemar Olbryk, a board member at Echo Investment. - It has both unique genius loci and a great location. We want not only to satisfy the needs of residents and employees, but we also want to attract tourists or residents of the city who will want to spend their free time here, with friends and family. Various, mutually supporting functions have been planned and, as a result - creating a vibrant part of the city full of life around the clock.

Tymienieckiego project will comprise of 20 buildings with various functions, 14 of which are appropriately adapted historical buildings. Historical construction of the former combined heat and power plant will be the heart of the project. As part of the investment, urban squares, common spaces and green areas will be created, with the total area of almost 4 hectares.

The investment will be implemented in several stages - the first includes the construction of two residential buildings, with 270 flats. Echo Investment has already obtained the necessary building permits. The start of the construction works is planned in April, and the first residents are expected at the beginning of 2021. Simultaneously with the completion of the first stage, the public square in front of the power plant will be handed over, as well as the access from Tymienieckiego Street.

During the next phases, we will build one residential building with flats, office buildings, and residential buildings. The project also foresees a revitalization of the historical parts of the site and transforming them into restaurants and other retail functions to make Tymienieckiego investment a desirable destination where the inhabitants of Łódź will like to spend their free time.

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