570 new apartments // Kreuzviertel, Dortmund, Germany
570 new apartments // Kreuzviertel, Dortmund, Germany 

570 new apartments // Kreuzviertel, Dortmund, Germany
570 new apartments // Kreuzviertel, Dortmund, Germany 

DERECO and REVITALIS planning 570 new apartments in the Kreuzviertel of Dortmund

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A joint venture by DERECO, a Cologne-based multi-family office, and REVITALIS project developers from Hamburg is planning to build 570 new flats on Berswordtstrasse / Lindemannstrasse in the close vicinity of the football club’s offices.

The new residential quarters have been designed by the architectural firm MPP Meding Plan + Projekt GmbH from Hamburg. The plot – approx. 10,900 sqm in size and currently being used as a parking lot – is adjacent to the Dortmund University of Applied Sciences and also near the trade fair, Westfalenstadion and Westfalenpark. The new residential development will offer approx. 26,000 sqm of gross floor space. It’s an adequate, modern residential addition to the popular Kreuzviertel neighbourhood.

According to current plans, 230 high-quality rental flats will be built, ranging in size between approx. 43 and 125 sqm. In addition, 340 modern, partly furnished student flats / micro-apartments are planned (approx. 22 to 49 sqm each). In addition, the plan provides for 218 underground parking spaces for future residents and a new access point to the underground car park from Lindemannstrasse for the offices of Borussia Dortmund. Car-sharing, rental bikes and e-mobility are likely to be included in the finite planning, too. And it’s not only going to be residential: some 700 sqm of commercial space is included in the drafts of this new facility.

The new residential development will offer quick access to the B1 road, which partly overlaps with the A40 motorway, the main artery connecting the east and the west of the Ruhr Valley including cities like Bochum, Essen and Dortmund. The Technical University of Dortmund (34,000 students), the city centre and the airport are all within easy reach; public transport connections are good.

A building permit is scheduled to be applied for during this quarter, Q1 2017. Construction activities are expected to start in autumn 2017. The project is intended to be completed by Q4 2019.

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IDEAL WOHNEN and DERECO plan to develop 160 residential units in the Hanover region
A joint venture by IDEAL WOHNEN project developers and multi-family office DERECO, both based in Cologne, Germany, has acquired a seven-hectare plot in Wennigsen. With its light railway connection to Hanover and its proximity to the largest recreation area in the region, demand for Wennigsen is exceptionally high. This is true both for young families hardly able to find affordable accommodation within the boundaries of Hanover and for the sixty-plus generation facing a lack of apartments in the region that meet their needs.

The joint venture is going to develop a residential area of 80 detached houses and approx. 80 additional residential units in apartment buildings in line with the KfW 55 Energy Efficiency Standard, a token of environmental friendliness. Totalling over 50 million euros, the development is one of the largest housing projects in the Hanover area, says Ulf-Harald Koepke, Managing Director of Ideal Wohnen. Construction is planned to begin in April 2017; completion is scheduled by 2020.

Legal consultants for this property transaction were CMS Hasche Sigle. Mittler Immobilien- und Finanzmanagement, Cologne, advised on project finance. Drees & Sommer, Dusseldorf, provided technical consultancy services.

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SWIFT and DERECO to develop residential project in Bad Honnef
A joint venture by S W Invest Finance Trade project developers from Frankfurt and the multi-family office DERECO from Cologne has acquired two plots of developable land covering a total of approx. 10,100 sqm on the former Penaten premises in Bad Honnef (near Bonn).

According to current plans, the partners intend to develop a modern residential neighbourhood with about 150 rental apartments covering approx. 10,500 sqm of gross floor space. Additionally, some 2,800 sqm of is earmarked for local retail. Some 300 parking spaces are planned to be developed too. The JV intends to apply for a building permit soon, in spring 2017. Construction activities are expected to start in autumn 2017. Completion is scheduled by early 2019.

SWIFT will be in charge of operations whereas DERECO will inject capital. Consultancy services were provided by Heuking Kühn Lüer Wojtek, Hamburg, and IQ Real Estate, Dusseldorf.