German real estate developer Wilma is investing €37.1 mln in the new city district in Oberursel, Germany.
Located in a central inner-city location, the artem Stadtquartier will consist of six multi-family homes with 67 one to four room apartments, including 15 rent-controlled apartments.
In addition to 5,413 m2 of living space, the project includes an underground car park with 80 parking spaces.
Shell construction of the houses began in August 2022 and completion is scheduled for autumn 2024.
Peter Wittel, managing director of Wilma - Branch Rhein-Main, said: ‘Despite the currently difficult market environment and the very demanding logistical situation due to the immediate proximity to Deutsche Bahn and VGF, we are right on schedule and are certain that the construction project will be successfully completed by the end of 2024.’
Antje Runge, mayor of the city of Oberursel, added: ‘With the laying of the foundation stone for the artem urban district, we are creating new living space, which is immensely important in order to position Oberursel for the future. This applies in particular to the economy in order to fill jobs with qualified specialists or for families, since the rent-controlled sector is also served. Right now we need courageous investors like Wilma, who are successfully giving shape to a challenging area like the Gleisdreieck in cooperation with urban development.’
In the car-free residential area, the core of the mobility concept are bicycle parking spaces and bicycle-friendly routing – including a direct connection to the bicycle highway to Frankfurt.
Car parking spaces for electric charging stations are also part of the project, while environmentally friendly transport is nearby, due to the immediate vicinity of the train station and the S-Bahn.
The planned construction project will also meet energy and ecology requirements thanks to a modern ventilation concept and the green inner courtyards between the houses and the green square in the neighbourhood.