Cologne: LEG demolishes residential quarter and builds a new one twice the size
LEG is investing about €80mn in building roughly 400 senior and family friendly apartments on Schlebuscher Weg in the Höhenhaus district. The existing buildings with around 200 residential units will be gradually demolished and replaced by new structures. LEG had contracted two Cologne-based urban planning and architecture firms to prepare feasibility studies for the conversion of the quarter. Both determined that it would make sense to preplace the existing buildings from the 1960s with new ones with more than twice the number of apartments. In particular the planned cross-generational living concept would not have been possible with modernization alone. One third of the new apartments will be marketed as social housing or low-price living space. Construction is scheduled to start in 2021; the first units should be ready for occupation starting 2022.
Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.