German housing company Vivawest is investing around €70 mln to build around 190 modern, partly publicly subsidised flats in Dortmund, Germany.
The Gelsenkirchen-based developer acquired the historic 8,300 m2 Westfalenhütte steelworks site from BPD Immobilienentwicklung.
Construction work is scheduled to start in 2025 with completion due in mid-2027.
The project will consist of over 13,900 m2 of total living space, with just under 30% of the flats will be publicly subsidised, while the remaining units will be privately financed.
In addition, an underground car park with around 160 parking spaces for future tenants will be built on the site in the coming years.
All residential buildings will comply with the KFW 40-EE standard and will be heated by district heating to conserve resources.
Bastian Brusinski, head of portfolio management/acquisition at Vivawest, said: ‘As the largest sustainable neighbourhood developer in NRW, we are very pleased to be able to create urgently needed new and energy-efficient living space on the historic site with this ambitious project. The high proportion of publicly subsidised flats in a central location appeals to our various target groups. Having recently completed a comprehensive modernisation of our Borsig-West neighbourhood, with this project we are once again investing specifically in new housing for Nordstadt and for Dortmund, which is an absolute core stock for us.’
Gerald Darkow, responsible for area development at BPD Immobilienentwicklung Region West, added: ‘The new quarter will be an enrichment for Dortmund's Nordstadt. Together with our partners, we are creating a change here from industrial use to a lively place to live. We are therefore delighted that we have been able to win Vivawest as a sustainable neighbourhood developer to realise the first part in the new Karlsquartier.’
Vivawest is implementing the project together with the architectural firm RKW Architektur + and will subsequently take over the management of the flats.
The future Karlsquartier district will consist of around 800 new flats, a quarter of them publicly subsidised, in addition to a day-care centre, a school, several commercial units and a small park.
