Instone Real Estate has completed the third and last construction stage at the “Luisenpark” housing estate in Berlin-Mitte. The company was joined by representatives of the City of Berlin, the local architectural firm Gruntuch Ernst und Axthelm Rolvien, which handled the project, and Reiner Nagel, Chairman of the Federal Foundation of Baukultur, to celebrate the topping-out ceremony, which marked a major project milestone, earlier this week.
Located at the corner of Alte Jakobstrasse and Kolonnenweg, the scheme comprises 414 condominiums and a dedicated day-care centre. The handover of the mostly subsidised rental flats already took place in May of this year. Out of the 235 condominiums of the third construction stage, Instone already sold 193. “Quartier Luisenpark” with its car-free inner courtyard features expansive green areas, handicap-accessible apartment entrances and underground parking spots with e-mobility outlets. It is located directly next to Luisenstadtischer Kirchpark, a park at the location of a former church that was largely destroyed in an air raid in 1945 and whose remains were demolished in 1964. The scheme benefits from a central location and is easily accessible by public and private transport. The quarter as a whole is slated for completion by winter 2020.
Carsten Sellschopf, COO of Instone for Berlin and Hamburg, said: “There is keen interest in the remaining 42 flats, and it is quite obvious to us that this residential project we have created within an urban setting represents a highly attractive product. Quartier Luisenpark is one of the last large-scale neighbourhood developments on the grounds of the Berlin Wall in the borough of Mitte. It creates around 550 flats for a broad population cohort in the inner city where residential accommodation is urgently needed.”
Reiner Nagel, Chairman of the Board of the Federal Foundation of Baukultur, added: “30 years after the Berlin Wall came down, the restoration of the original residential use of the area here on the district boundary between Mitte and Kreuzberg is finally closing a gap and bringing a formerly vibrant quarterback to life.”