AUG. PRIEN Invest has sold the residential development project at Kalkumer Straße 70 in Düsseldorf-Unterrath, which it acquired in June this year, to a foundation as part of a forward deal. The notarisation of this transaction was completed on 1 July. The parties involved agreed not to disclose the purchase price. A pure residential quarter with a total of 70 housing units will be built on the site, which was formerly used by postal buildings.
The project was significantly further developed from its original planning and entirely oriented towards purely residential use. Approximately 63 of the planned housing units will be realised as publicly subsidised housing. The remaining seven apartments will be built within the framework of Düsseldorf's Impulsprogramm, which promotes the creation of affordable housing in the city. With this sale, a housing company known for its long-term investment strategy is acquiring the property for permanent portfolio retention.
Significance for the Housing Market and Collaborative Partnership
The turnkey completion of the construction project will be managed by the Cologne branch of AUG. PRIEN Bauunternehmung. Malte Ramthun, Managing Director of AUG. PRIEN Invest, commented on the transaction by stating that the creation of affordable housing represents one of the essential societal tasks. He emphasised his pleasure at the successful implementation of the project together with the foundation and the handover into responsible hands for a long-term perspective.
This endeavour makes a significant contribution to supplying the Düsseldorf housing market with adequate and affordable housing. It also underscores the crucial importance of a collaborative partnership between project developers, construction companies, municipalities, and portfolio holders. The architectural planning for this residential quarter was carried out by plasma Architekten. Following the conclusion of the transaction, the concrete realisation phase of the project will now begin.
- —Location: Kalkumer Straße 70, Düsseldorf-Unterrath
- —Total apartments: 70 units
- —Publicly subsidised: approximately 63 apartments
- —Düsseldorf Impulsprogramm: 7 apartments
