Essen/ Nuremberg/ Erlangen, 10 February 2020: Around 300 new residential units will be realised within the mixed-use SEETOR City Campus neighbourhood development in Nuremberg by 2023. Instone Real Estate, one of Germany's leading residential developers, will be building the project's 200 privately financed units in the quarter. This includes the SEETOR Tower, a striking residential high-rise which will define the landscape as a landmark easily visible from afar.
In addition, 97 residential units of the SEETOR City Campus will be subsidised. This part of the project was recently sold to Erlangen-based GBI Wohnungsbau GmbH, which will realise the project by creating apartments with two to four rooms.
"We are pleased that the Bavarian subsidy programme is enabling this cooperation of private project developers and is facilitating subsidised living in such an attractive quarter", Simon Hübner, managing director of GBI Wohnungsbau says. "This cooperation between Instone and GBI offers homes to those who currently have a hard time finding an affordable option in the overstretched housing market." GBI Wohnungsbau has substantial experience in subsidised residential construction. Its portfolio comprises around 1,000 units.
The entire SEETOR City Campus project is designed as a mixed-use quarter. The site situated on Ostendstrasse/ Dr.-Gustav-Heinemann-Strasse will be home to the residential units and provide roughly 25,000 square meters of commercial space which will cater to a hotel, offices, retailers and services plus shopping facilities, medical practitioners and restaurants. The publicly accessible SEETOR City Park is at the heart of the quarter and comprises around 7,400 square meters of designed green areas for use by the public.
SEETOR City Campus is the first large-scale collaborative project of Instone Real Estate and Sontowski & Partner Group, which will develop the commercial part of the site and which initiated the project. In summer 2019, the two companies had announced that Instone will be taking charge of Sontowski & Partner Group's residential property development which was united under S&P Stadtbau. In the meantime, S&P Stadtbau has been successfully integrated into the Instone Group. One element of the strategic partnership between Instone and Sontowski & Partner is that in large-scale mixed-use projects like the SEETOR City Campus Instone will always be responsible for the realisation of the residential part of the project.
Andreas Zeitler, who manages the Bayern Nord branch of Instone Real Estate, says about the project: "SEETOR City Campus will be exemplary for modern urban concepts where a variety of usages intermix and residential and commercial formats harmonize. We are excited to see Instone, Sontowski & Partner and GBI Wohnungsbau join forces for this project as strong partners."
The SEETOR City Campus plot measures roughly 19,000 square meters in size and is currently undergoing infrastructure and construction preparation measures. Construction will start in spring 2020. The project is expected to be completed during the first half of 2023.
Contacts for the press
Instone Real Estate
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Tel.: +49 (0)30 2844987-47
Fax: +49 (0)30 2844987-99
E-mail: instonerueckerconsult "«@&.de
Sontowski & Partner Group
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Fax: +49 (0)9131 7775-80
E-mail: kirsten.bauselersontowski "«@&.de
Tel.: +49 (0)221 29 21 92 82
Fax: +49 (0)221 29 21 92 83