German housing company Vivawest has laid the foundation stone for a new residential district in Rheinbach, Germany, in which it will invest €67 mln.
The Majolika Quarter will be located on an area of 10,700 m2 of the former site of a majolica ceramics factory.
Construction will take place in four stages and is expected to be completed by 2026.
The district will consist of 174 modern and sustainably furnished apartments for different target groups, including a daycare centre and 24 public senior apartments.
After completion, Vivawest will take over all of the apartments and the daycare facilities into its own portfolio.
Uwe Eichner, chairman of the Vivawest management, said: ‘Rheinbach is an attractive location in a prime location not far from Bonn that suits us well. That's exactly why we're investing here in the creation of urgently needed, sustainable, and subsidized housing. We are doing our part to relieve the strained housing market in this region.’
The 2- to 4-room apartments in ten residential buildings have a living space of 59 to 122 m2. Seven buildings have three floors and three have four floors. All buildings comply with the KfW standard 55ee - the energy is supplied via air-water heat pumps and reduces heating costs through the use of renewable energies.
There will also be parking spaces for cars and bicycles in four underground car parks, prepared for the use of electric charging stations.
The new building project between Keramikerstraße, Ketteler Straße, Aachener Straße, and Leberstraße is part of a large neighbourhood development with Vivawest acquiring four out of five construction sites in 2020.
The new Vivawest quarter is within walking distance of the train station and the Bonn Rhein-Sieg University of Applied Sciences in the city center of Rheinbach. There are excellent connections to public transport, while the A61 motorway can be reached in just a few minutes and offers very good connections to Bonn and Cologne.