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WARSAW-Orco Property Group has applied for planning permits for the development of a 45-story residential tower in this city’s Downtown. Orco says its partner in the project is the renowned Polish-born architect Daniel Libeskind.

Luxembourg-based Orco says it has made a presentation to city officials detailing the 630-foot glass tower, which would be located on Zlota Street. The site is currently occupied by the City Center department store, which Orco acquired for $12.8 million (pln 41.5 million).

When complete, the building would become Warsaw’s tallest residential tower. Additional detail will be revealed during a discussion of the company’s mid-year report that is scheduled for today in both Paris and Prague.

Orco is a developer, investor and asset manager that has been in business since 1991. Orco’s focus is the real estate hospitality market in Central Europe.

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