News: S+B and Polish resi news

III phase of Neptun Park
PKO BP Inwestycje (formerly Qualiea Development) has begun construction on the third phase of Neptun Park a residential district between Gdansk and the resort town of Sopot. In all, 456 apartments of up to 186 sqm will be built, and are being sold for PLN 11,000 per sqm.
J.W. Construction permit for Zielona Dolina
J.W. Construction has made progress on its largest residential project at Ostrołódzka St. on Białołęka of Warsaw, picking up the construction permit it needs in order to proceed. The first 600 flats in this 1,450-unit scheme is due to begin construction at the end of May. The average price is PLN 5,570 per sqm.
S+B takes over Wspólna 72
The Austrian property company S+B Gruppe took over the shell of a building on Wspólna Street that was supposed to become a hotel. The developer is re-working parts the design at the moment, and while it hasn’t decided if it’s destined to become a hotel, it has said it’s willing to spend €40m on the project. S+B’s most recent project in Warsaw was Zebra Tower, an office development that it sold to Union Investment in February 2011 for €76m.
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