Frankfurt/Main, 27.03.2018: A group comprising the companies Nassauische Heimstätte/Wohnstadt and Instone Real Estate Development GmbH is working together to develop parts of the Südlich Rödelheimer Landstraße area in Bockenheim. The project partners have now acquired another site as part of this process. The nearly 7,000 sqm space is located on Rödelheimer Landstraße, near the centre of the planning zone and in the western part of the area that Nassauische Heimstätte and Instone are developing together. So far, the abrasives manufacturer Burka-Kosmos has been using the site. The parties have agreed to maintain discretion about the purchase price. Only a few weeks ago, Nassauische Heimstätte and Instone announced the purchase of another 11,000 sqm site that is currently being used by the Fermont haulage company.
Large share of apartments subsidised
The development plan envisages the creation of a residential quarter covering the entire space over the course of the next few years. “By purchasing this property, we are rounding off the area that we are developing together with Instone,” says Dr Constantin Westphal, Managing Director of Nassauische Heimstätte. Construction will soon begin on urgently needed, affordable housing in this excellent location, giving rise to a lively neighbourhood with the entire necessary infrastructure. “We’re playing our part by building housing for tenants and home owners,” Westphal continues. “Of course, we’re also planning to build as much social housing as possible.” As Ralf Werner, head of Instone’s Rhine-Main branch adds, the project will make an important contribution to improving the housing situation by carefully developing the former Siemens premises, which form the basis of the project, in order to put apartments of higher quality on the market. “Instone and Nassauische Heimstätte will be able to execute their own housing projects on their own sites. The people who will live here one day are to profit from the result of this partnership between two competent major companies – in an attractive residential neighbourhood for a diverse range of lifestyles and phases of life.”
Colourful residential mix planned
According to current planning, a total of roughly 2,500 apartments could be created in the area covered by the development plan that is currently being prepared. Moreover, a new primary school and a greenway – in the sense of multi-purpose development – are also intended for the neighbourhood. The idea is to build a mixture of subsidised apartments (first and second German social housing subsidies), privately financed rental apartments and owner-occupied apartments. In line with the mission of their partners, the consortium wants to use its share of the project to help to relieve the strain on the housing market in Frankfurt and to provide people in Hesse with housing. Moreover, this site will allow construction to take place in a way that conserves resources. “At the end of the day, it is former commercial space that we’re turning into residential construction land,” Westphal adds. “This means that we don’t have to seal any new areas.”
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