Today, ECE held a cornerstone event on the site of its latest retail project in Poland, Galeria Kaskada in Szczecin, which is scheduled to open in the fall of 2011. The total value of the investment will exceed €180m. Berlin Hyp is providing €111m of financing for the project, following an agreement with the developer signed in March 2010.
The 43,000 sqm center will have a catchment area of about 720,000 people, according to ECE. The German developer says that 80 percent of the area has already been leased to tenants including C&A, Van Graaf, Reserved, Empik, Intersport, Cropp, Home&You, Mouse, Sephora, Douglas, Rossmann and CCC.
Part of ECE’s agreement with the city of Szczecin about the Kaskada project was that the developer would have built a new puppet theater to replace the old one that was torn down to make room for Kaskada. The new theater was completed in 2009.