Berlin's Friedrichshain-Kreuzberg district approves plans for Quartier am Halleschen Ufer
Planning approval means the construction of some 400 apartments in the new urban quarter can start. Completion is planned for 2024.
During its meeting on November 25, the Berlin district of Friedrichshain-Kreuzberg approved plans for the redevelopment of the former Postbank site. This means that degewo and Art-Invest Real Estate can start the next development phase of their joint planning for the five lots surrounding the striking 90 meter high-rise formerly known as the Postbank Tower. The aim is to turn what was once purely administrative offices into a mixed urban quarter with a wide range of options for living and working.
The 35,600 m² site at Hallesches Ufer 40-60 is in the Friedrichshain-Kreuzberg district overlooking the Landwehr Canal and not far from Potsdamer Platz. degewo will build around 320 apartments on the lots to the north, around two-thirds of which will be offered as subsidized living space with affordable rents. In addition, Art-Invest Real Estate is developing approx. 66,500 m² of commercial space and 80 additional apartments. To strengthen local infrastructure, a daycare center, a supermarket, other shops, and restaurant spaces are also being built on the site.
Sebastian Scheel, Senator for Urban Development and Housing, comments: “On the site of the former postal bank, an urban quarter with a mixture of living, offices, social infrastructure, and lively restaurants is being built. This shows how affordable living can be achieved in the best location. After a tough struggle, we have found a good result that is now being implemented to make Kreuzberg and Berlin even better."
Christoph Beck, member of the degewo executive board, adds: "We are looking forward to this prominent project in Kreuzberg, which we can now implement thanks to the good and goal-oriented cooperation between the Senate, the district, and the project sponsors. The planning approval clears the way for degewo to obtain building permits for the urgently needed new municipal housing. We will be able to start construction in 2021 as planned, and, if everything goes well, the first apartments will be completed in 2024. Ultimately, we will be able to provide significant relief for the local housing market with the 320 residential units we have planned, most of which will have subsidized rents. At the same time, the new daycare center and public play areas will also strengthen the infrastructure."
Lena Brühne, partner and Berlin branch manager at Art-Invest Real Estate, adds: "We are pleased that the cooperation with the Friedrichshain-Kreuzberg district and degewo is proceeding constructively and, above all, quickly in such a spirit of partnership and we would like to thank everyone involved. Due to the unique architectural interplay of innovative new buildings and the revitalization of the former postal bank building, we will be creating an overall inspiring quarter on Hallesches Ufer which will connect the Kreuzberg and Mitte districts. The site offers the perfect location for combining work and everyday landscapes in an urban, environmentally conscious way that, for us, reflects the Berlin spirit."
degewo is the leading housing company in Berlin with almost 75,000 apartments and is one of the largest and most efficient companies in the industry with around 1,300 employees. New construction and acquisitions mean degewo adds some 1,500 apartments a year to its portfolio.
About Art-Invest Real Estate
Art-Invest Real Estate is a long-term oriented investor, asset manager, and project developer of real estate in good locations with potential for added value. The focus is on the metropolitan regions of Germany, Austria and Great Britain. Art-Invest Real Estate pursues a "manage to core" investment strategy with institutional investors, selected joint venture partners, and its own capital. The range of investments covers the entire spectrum of returns and risks in the office, inner-city retail, hotel, residential, and data center sectors.
The company headquartered in Cologne was founded in 2010 by the managing partners and the Zech Group. Since 2012, the capital management company has launched over 20 investment funds for institutional investors such as pension funds and foundations. Art-Invest Real Estate currently manages real estate assets worth approx. €6 billion. Art-Invest Real Estate is now one of the largest project developers for offices and hotels in Germany.
Art-Invest Real Estate acts as an innovation leader along the real estate value chain, also through its investments: "Design Offices" as a leading provider of flexible office and corporate coworking spaces, "BitStone Capital" as a venture capital company, "maincubes" as a developer and operator of data centers, "wusys" as an industry-independent IT service provider, "smartengine" as a provider of technology for intelligent buildings, "i Live" as a developer and operator of micro-living and serviced apartments, the "GHOTEL Group" as a hotel operating company, and "Scopes" as a provider of tenant planning and interior design.
Your Press Contact:
Paul Lichtenthäler | Spokesman degewo AG
Phone: +49 (0)30 26485 1515
Art-Invest Real Estate:
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Phone: +49 (0)30 889 12 988