Multi Development has presented, together with partners; the City of Bad Kreuznach and Volksbank Rhein-Nahe-Hunsrück, a concept for the development of a downtown quarter with a shopping center in Bad Kreuznach, Rhineland-Palatinate.
The investment would be circa 70 million. The project would have a rental area of around 15,000 m² for retailers, restaurants, services and housing. About 50 rental units are planned, including an existing Kaufhof department store which is to be expanded and integrated into the project. In addition, an area of 1,400 m² is for a new sports hall for the school adjacent to the project. 320 parking spaces are also planned.
An essential feature of the open approach is the seven buildings that are only connected by a glass roof. The two shopping streets of Mannheimer Strasse and Kreuzstrasse will link to form the newly created district, becoming a new run for customer traffic. In addition to space for small-scale retailers it will provide the downtown development with areas for anchor tenants in food and consumer electronics.
Axel Funke, CEO of Multi Development Germany GmbH: "Multi Development specializes in designing inner-city concepts of high architectural quality which are always oriented to the existing urban structures of the city without losing sight of the retail function.
"We are applying this approach to the development of this new neighborhood in Bad Kreuznach. With the integration of the old city wall into the project, we remain true to our philosophy of always associating our projects with the history of the city."
Construction is slated to begin in the first quarter of 2014 with completion during the second quarter of 2016.