A new urban area development project from listed residential developer Instone Real Estate and the Nassauische Heimstätte/Wohnstadt Group is set to turn the ex-Siemens site in Frankfurt into a residential district called the Schönhof Quarter.
Comprising around 2,000 residential units, plans for the development were unveiled on Thursday by Mike Josef, head of Frankfurt’s planning department, in cooperation with Nassauische Heimstätte and Instone. The two companies recently acquired half of the total area for the redevelopment, amounting to approximately 125,000 m2.
'As part of a brownfield development strategy, we will be building a diverse residential quarter for all segments of the population that will include the necessary infrastructure. In the western part of the site, we also plan to develop an urban area where living and working spaces can exist side by side, allowing current businesses to continue operating there,' said Josef.
‘We want to start building quickly as soon as we are able to submit the first building applications next year. Provided everything goes well, we will be finished with the Siemens quarter in 2024,’ said Peter Klarmann, head of project development at Nassauische Heimstätte.
The objective is to build a mixture of subsidised units, privately financed rental units and condominiums.
‘Nassauische Heimstätte and Instone will also build several day care centres and a large public park on the site. A public square and additional green spaces between the buildings will help make the Schönhof Quarter a family-friendly residential neighbourhood with a high quality of life,’ Josef added.
