Bochum decides on urban redevelopment with HBB project
Bochum’s city council has cleared the way for new development of the city center yesterday evening. HBB can now develop the “Viktoria Karree” according to designs by RKW for €150mn. Three buildings of four to seven stories will be built on 10,500 sqm of land between Junggesellenstrasse and ABC-Strasse, with retail, office, and hotel space over a total of 37,000 sqm of lettable space. The city administration will lease 15,000 sqm of office space for 20 years at a premium (for Bochum) net cold price of around €13/sqm. Demolition is scheduled for this year, with completion expected in 2021. HBB is also planning to dismantle the building at Junggesellenstrasse 8 and develop apartments there. In addition, the city has decided to purchase the neighboring Telekom block at Willy-Brandt-Platz/Viktoriastrasse from investor Andor Baltz for the establishment of a library and adult education center as well as a 1,500-sqm market hall and office space. Husemannplatz will also be redesigned. The former BVZ administration building will give way to a residential development.
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