GEG German Estate Group AG has unveiled further plans for its Riverpark Tower development project. The scheme, first announced in September 2017, entails a complete redevelopment of Union Investment’s current headquarters at 10 Wiesenhüttenstrasse, and its further repositioning as a landmark tower block (with a height of just under 95m) that will feature high-specification condominiums as well as serviced apartments.
Riverpark Tower will have 23 upper floors. Approximately 100 serviced apartments will take up the first five floors above ground level; the remaining 17 floors will include a maximum of 120 condominiums. Construction is scheduled to start in the spring of 2019. The company has now revealed that the project's architect Ole Scheeren will not only be responsible for the tower building's overall design but will also oversee its interior design – comprising the lobby area as well as up to 120 high-specification condominiums.
The Riverpark Suites, a cluster of buildings adjacent to the tower, will also include a mix of condominiums and municipally-sponsored housing. The Riverpark Suites compromises two buildings: one six-floor property that will accommodate 22 condominiums, and a seven-floor property with 35 rental flats subsidised by the City of Frankfurt. The project is developed by Frankfurt-based architect Jo. Franzke.
On a plot with a surface area of 4,100 m², the project will create around 33,000 m² of lettable area, plus 230 underground parking spaces. The buildings will be equipped with high-specification materials and will feature app-based 'smart home' technology. The development aims to satisfy high sustainability standards. The unique location, right on the Main riverbank, will ensure that residents have a magnificent view as well as easy accessibility to the inner city. The ensemble of buildings is scheduled to be ready for occupancy during the first half of 2021. Total investment volume will exceed €230m.
A team of experts from estate agents Ballwanz and JLL has been retained as distribution partners. Marketing is set to start in the autumn of 2018.
