New spirit in Nowe Miasto

Nothing seems to be going on behind the fence surrounding Kraków Main Railway Station, but that is not going to last long. ECE Projektmanagement, the German developer, which took over the site several weeks ago through its Kraków Nowe Miasto company from Tishman Speyer Properties of the USA, announced construction will commence early this summer. The project called "Galeria Krakowska" will take place in several phases. The first will concern the above mentioned shopping and office space, a 10-hall cinema and hotel. The next phase could comprise further office space, a conference centre and second hotel. The total investment value might reach 500 million euro. Tishman Speyer Properties, the previous owner of the sites around Kraków Main Railway Station, encountered no end of problems with his investments. When the tender was won in 1998, it was announced that the project would be concluded in 2001. The development was delayed due to litigation with Polish State Railways and the inability to reach agreement with the Ministry of Infrastructure, proowner of part of the land imperative to undertake the investment.