Instone Real Estate Development GmbH has celebrated the topping-out for its Therese project in Munich’s university quarter, Maxvorstadt. The scheme includes eight new residential buildings, featuring 117 apartments, ranging between 30 and 330 m². The properties will benefit from a quiet inner courtyard location and a close proximity to Munich’s two universities. The project includes a kindergarten, underground parking and bicycle stands. Completion is scheduled for mid-2019. All apartments have already been sold except for four penthouse apartments with private terrace gardens.
“With Therese, we are picking up on the typical courtyard structure of Munich’s Maxvorstadt. By offering different apartment sizes, we will be achieving a good mix of residents, who will contribute to the diversity of the quarter. At the same time, the inner courtyard location in the heart of Munich will allow us to create a quiet residence that will probably be in a league of its own in Germany,” says Joachim Häsler, branch manager of Instone’s Bavaria branch.
“We are developing our Therese project in one of the most attractive areas in Munich. Therese is a good example of the strategic approach we are taking for realizing the high-density construction of the highest quality in central metropolitan locations throughout Germany,” adds Harald Meerße, COO of Instone Real Estate Development for Baden-Württemberg and Bavaria. “Munich is one of the fastest growing metropolitan regions in Germany. By 2030, the Bavarian capital will have grown by 200,000 residents, giving it a population of over 1.7 million. Demand for housing will, therefore, remain high.”