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DGAP-Media / 2018-07-05 / 14:00
*PRESS RELEASE*
Date: 05.07.2018
*Siemens site in Frankfurt to become Schönhof Quarter with over 2,000
residential units *
_Urban area development plan presented by Mike Josef, head of Frankfurt's
planning department, in cooperation with the Nassauische
Heimstätte/Wohnstadt Group and Instone Real Estate_
Frankfurt/Main - Frankfurt's Siemens site is currently still dominated by
office buildings, production halls, wasteland and parking lots. But in
future, it will become home to a lively residential quarter called the
Schönhof Quarter. The Nassauische Heimstätte/Wohnstadt Group and the listed
residential developer Instone Real Estate have joined forces on a project
involving the former Siemens site in the city's Bockenheim district.
Together with Mike Josef, the head of Frankfurt's planning department, the
two companies today presented the urban area development plan for the site.
In recent months, the two companies have purchased around 125,000 square
meters, or roughly half of the total area slated for redevelopment.
"As part of a brownfield development strategy, we will be building a diverse
residential quarter for all segments of the population that will include the
necessary infrastructure. In the western part of the site, we also plan to
develop an urban area where living and working spaces can exist side by
side, allowing current businesses to continue operating there," Josef
explains. The developers are ready to go. "We want to start building quickly
as soon as we are able to submit the first building applications next year.
Provided everything goes well, we will be finished with the Siemens quarter
in 2024," says Peter Klarmann, head of project development at Nassauische
Heimstätte.
More than 2,000 residential units will be built on the two companies' sites
in the eastern part of the planned neighbourhood. The idea is to build a
mixture of subsidised units (first and second German social housing
subsidies), privately financed rental units and condominiums. "We are
striving for high architectural quality and diversity and will commission a
variety of architectural firms to produce designs. The Schönhof Quarter will
offer an integrated, modern concept that combines living, working and
recreation. This is an excellent opportunity for both companies to leverage
their expertise in the development of urban neighbourhoods," says Ralf
Werner, head of Instone's Rhine-Main branch. In cooperation with the city, a
pan-European architectural competition is planned to design the centre of
the quarter.
A primary school will also be built on the quarter's main square. The ground
floor of the opposite building will provide space to retailers to ensure
that residents have convenient access to local shops. "Nassauische
Heimstätte and Instone will also build several day care centres and a large
public park on the site. A public square and additional green spaces between
the buildings will help make the Schönhof Quarter a family-friendly
residential neighbourhood with a high quality of life," Josef says.
*Nassauische Heimstätte/Wohnstadt Group*
The Nassauische Heimstätte/Wohnstadt Group with its headquarters in
Frankfurt am Main and Kassel has been providing a wide range of services in
the housing, construction and development segments for 95 years and
currently employs around 720 members of staff. With around 60,000 rental
apartments in 140 cities and towns, it is one of the leading German housing
companies. Its housing portfolio is currently managed by around 260
employees in four regional centres that are divided up into 13 service
centres. The Frankfurt regional centre manages around 19,800 apartments,
including 16,000 right in Frankfurt. With the ProjektStadt brand, it is
pooling expertise to perform sustainable urban planning tasks. It plans to
invest EUR1.5 billion in its portfolio and in the construction of new
apartments by 2021. This will lead to the construction of 4,900 additional
apartments in the next five years.
*About Instone Real Estate (IRE)*
Instone Real Estate is one of Germany's leading residential developers.
Instone develops modern urban multi-family and residential buildings and
refurbishes listed buildings for residential use. Instone develops and
markets flats for owner-occupiers, private investors and institutional
investors. In 27 years, we have successfully developed more than one million
square metres. Around 300 employees work at eight locations nationwide. As
of 31 March 2018, Instone's project portfolio consisted of 45 development
projects with an expected total sales volume of around EUR 3.4 billion and
more than 8,000 units. Since February 2018 Instone has been listed in the
Prime Standard at the Frankfurt Stock Exchange.
*Press Contact:*
Nassauische Heimstätte Wohnungs- und Entwicklungsgesellschaft mbH |
Schaumainkai 47 | 60596 Frankfurt am Main
Jens Duffner (Pressesprecher) | T: 069 6069-1321 | F: 069 6069-5-1321 |
www.naheimst.de [1] | Mail: jens.duffner@naheimst.de
Instone Real Estate c/o RUECKERCONSULT GmbH | Wallstraße 16 | 10179
Berlin
Franziska Jenkel | T: 030 28 44 987-61 | F: 030 28 44 987-99 | Mail:
instone@rueckerconsult.de
Stadt Frankfurt Planungsdezernat Kurt-Schumacher-Straße 10 60311
Frankfurt am Main
Mark Gellert (Pressesprecher) T: 069 212 36304 Mail:
mark.gellert@stadt-frankfurt.de
*Press releases and press images also available on the online press portal
at www.naheimst.de*
End of Media Release
Issuer: Instone Real Estate Group N.V.
Key word(s): Real estate
2018-07-05 Dissemination of a Press Release, transmitted by DGAP - a service
of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Instone Real Estate Group N.V.
Baumstraße 25
45128 Essen
Germany
Phone: +49 201 453 550
E-mail: ir@instone.de
Internet: www.instone.de
ISIN: NL0012757355
WKN: A2JCTW
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart,
Tradegate Exchange
End of News DGAP Media
701821 2018-07-05
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(END) Dow Jones Newswires
July 05, 2018 08:00 ET (12:00 GMT)
