ECE gets backing for new EUR 160m German mall

German retail specialist ECE Projektmanagement has received the green light from the city council of Kaiserslautern for the development of Neue Stadtmitte Kaiserslautern, representing an investment of over EUR 160 mln.

The scheme, which will be built at a prime downtown location on the premises of the former Karstadt building, is planned to include some 21,000 m² of retail sales space over 100 shops as well as 3,200 m² of services activities and 490 parking spaces. The former Karstadt building with around 12,000 m² of sales area will be part of the project.

'We aim for a start of construction in spring 2013 in order to be able to offer a great new shopping location in Kaiserslautern as of the end of 2014,' said Jens Jäpel, director of ECE Development.

ECE bought the city area at the Karstadt/Altes Pfalztheater location for EUR 10 mln.