The Frankfurt-based GEG German Estate Group AG has announced its Riverpark Tower property development, with construction measures to start in late fall of 2018, once Union lnvestment has relocated to the WINX Tower (MainTor). GEG will completely redevelop Union Investment’s current headquarters at Wiesenhüttenstrasse 10 and reposition it as a landmark tower block (height: just under 95 meters) that will feature premium condominiums and a boarding house. It will be the premiere project of celebrated architect Ole Scheeren.
Riverpark Tower will have 23 upper floors, while the ground floor divides into two separate lobby areas, one serving as entrance to the boarding house and its roughly 100 apartments that will take up the first five floors, the other leading to the 120 to 130 condominiums that will take up the 17 floors above.
The neigbouring building cluster named Riverpark Suites, designed by the renowned Frankfurt-based architect Jo Franzke, is already in development on the riverbank. It will include a mix of of condominiums and municipally sponsored housing. It will consist of one six-storey building envelope that will accommodate 22 condominiums and another building envelope of seven storeys that will house at least 34 rental flats subsidised by the City of Frankfurt.
Mike Josef, Head of the Planning Department of the City of Frankfurt: “I am very pleased that GEG is raising subsidised housing in this place – in so prominent a location and in the context of spectacular architecture. Since the high-rise is subject to an already effective planning permission, we could not have demanded the inclusion of subsidised housing construction. It has now been integrated in a collaborative effort characterised by close partnership: At least 34 flats subsidised under two different public sponsorship models will be created on a voluntary basis.”
The clear floor-to-ceiling heights will be around three metres everywhere in the building complex. On a plot with a surface area of 4,100 sqm, the project will create around 33,000 sqm of lettable area plus 230 underground parking spots. The buildings will be equipped with high-spec materials and will feature app-based smart home technology. It is planned to seek compliance with a high sustainability standard. The unique location in the front row of 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 in the first half of 2021. The total investment volume will exceed €220m.
Ulrich Höller, CEO of GEG: “With this fascinating capital works project, GEG is creating another extraordinary urban-planning highlight in the wake of the MainTor project and parallel to the Global Tower project. I am particularly delighted in this context that the outstanding architecture we are about to create will involve Ole Scheeren with his first project in Germany.”
Architect Ole Scheeren: “This aspirational project shows that high-quality living is an option in Germany, too. A closed office tower of the 1970s will be converted into an open-plan residential format filled with natural light. We will demonstrate how a smart, sustainable rezoning of existing building fabric can upgrade not just the livability inside the actual building but also within the urban context, and enhance city life in general. In its prominent inner city location on the bank of the Main, RIVERPARK Tower will have symbolic value for the future of Frankfurt.”