Van der Looy Projektmanagement and Bouwfonds Property Finance have joined hands for the project Reitzenstein. They will cooperate for the redevelopment of the barrack grounds near Düsseldorf in Germany which are still in use. Van der Looy Projektmanagement bought Reitzenstein on September 7 of this year from the German state.
The area has a surface of approx. 22 hectares and is situated in the center of Düsseldorf at walking distance from the Düsseldorfer Wald. It is a unique location in an existing and popular residential area.
To enable the development of the barrack grounds, Van der Looy Projektmanagement presented the project to Bouwfonds Property Finance. The two parties then decided to form a joint venture which was confirmed on November 25, 2004.
In the mean time the town-planning agency Nattler from Essen has designed a plan with the underlying idea of ‘living in the outer area of the center of Düsseldorf’. Through a simple set up of infrastructure and the maintenance of some characteristic buildings, space will be created for large public areas with water and green. The project will consist of apartments, several types of houses, offices and commercial space. The total invested amount will be €245 million.