Instone Real Estate and Bonn-based Wohnbau continue their successful cooperation in Dusseldorf with a new 16,500m² residential project located at Niederkasseler Lohweg 20. The scheme enjoys close proximity to the business quarter "Am Seestern", which was a large office premise planned in the 1960s. The project consists of publicly subsidized, price-reduced and privately financed rental apartments, a green neighbourhood square and a daycare centre for two groups. The scheme will also benefit from 151 underground parking spaces. The total investment volume was not disclosed.
Jens Brautigam, managing director of Wohnbau, said: "After the successful cooperation on the "Schumanns Hohe" project in Bonn, we are pleased to extend our joint commitment to the Düsseldorf location. The project in Dusseldorf-Lorick is a highly successful neighbourhood development and an excellent complement to our projects under construction in the Heerdt and Dusseltal districts. We are currently building a total of 565 apartments and two daycare centres in the state capital with an investment volume of €210m. This represents a noticeable share of our company's new nationwide construction programme to supplement Wohnbau's rental housing portfolio."
Andreas Graf, COO of Instone Real Estate, commented: "Together with politics, administration and civic engagement we strive for the development of new neighbourhoods. This brings into focus many areas which previously haven’t been considered for residency in the classical sense, such as the new and diverse living quarter in the Niederkasseler Lohweg, built with families, singles, and senior citizens in mind.”
