YOUNIQ AG, one of the leading providers of high-quality student apartments in Germany, has celebrated its first ground-breaking for student apartments at Frankfurt-Riedberg. The company is realizing a 234 residential unit project according to a design by architect Jan Dirk Müller-Seidler on a 5,380-m² area located directly next to the up-and-coming Riedberg Campus.
YOUNIQ AG's CEO, Rainer Nonnengässer, emphasized the location's high quality: "A total of 38,300 students are enrolled at the Goethe University at the start of the 2011 summer semester many more than there have been for a long time. Demand for student accommodation will continue to gain momentum, particularly in the high-growth university city district of Frankfurt-Riedberg.
"The number of students there will increase from currently 5,000 to around 8,000 due to the relocation of natural sciences faculties. It is precisely here that we are focusing on, and we aim to deliver significant relief to the student accommodation market in Frankfurt with our 234 apartments. The new apartments should be ready for occupation by as early as the 2012 winter semester."
Friedhelm Fug, Managing Director of HA Stadtentwicklungsgesellschaft mbH, which is the development company responsible for the sale of the area, went on to add: "I am pleased that YOUNIQ has made this commitment to the Riedberg area. The planned student residential hall represents an attractive offer to local students, enabling them to closely combine living and studying."
In other related news, YOUNIQ AG has acquired an undeveloped plot of land close to the university from Wohnbau Mainz GmbH with a notary purchase agreement. The 'YOUNIQ Mainz' project, entailing a total of 395 apartments, is to be created on an area of around 7,700 m² at Wallstrasse 31-37.
Locational benefits of the 'YOUNIQ Mainz' development include proximity to both the university campus and public transport connections at Mainz Central Railway Station. Shops offering daily requirements can also be found within easy walking distance. YOUNIQ AG plans to rent fully furnished apartments based on its tried and tested all-in standard. This comprises all incidental costs including Internet and cable connections.
The new project in Mainz boosts the number of apartments that are either being managed or are under construction to around 2,200 units, thereby further strengthening YOUNIQ's market-leading position in Germany.
Nonnengässer expressed his great pleasure at the newly acquired site in the Rhine-Main region as follows: "With almost 40,000 students, a high quality of life, and a shortage of apa