Switzerland-based investment manager Empira Group is building 750 energy-efficient rental flats in Cologne-Marienburg.
The project will be completed over the course of eight construction phases on the 52,600 m2 property, which served as Deutsche Welle's former HQ.
Along with more than 60,000 m2 of rental homes, there will be 9,800 m2 of commercial space, a 1,200 m2 daycare centre and around 700 subterranean parking places
Construction of the Die Welle neighbourhood kicks off in Q2 2023, while completion of the different phases is planned from 2025.
Lahcen Knapp, chairman of the Empira Group Board of Directors, said: ‘The acquisition of the neighbourhood development is an ideal fit for our strategy. We are planning to create an attractive and vibrant cosmopolitan quarter offering a diverse mix of flats and commercial premises. We intend to keep the rental flats in our portfolio for the long term. The quarter will also be developed in adherence to high sustainability and ESG criteria. In the new quarter, the future trends of sustainability, quality of life, digitalisation, mixing of living, working, playing and green spaces will be implemented in the best possible way for the benefit of the residents, the city and the climate.’
The quarter will be certified with the DGNB Gold Standard for sustainable buildings, while the buildings will be highly energy efficient in accordance with the KFW Standard 40 NH.
Car-sharing services and bike and electric vehicle charging facilities will be available, and PV roof systems will produce additional electricity for electric mobility needs.
The car-free neighbourhood will include playgrounds for kids and lush inner courtyards, while 70 apartments will receive public funding.
Originally developed as part of a JV between Empira, Bauwens and Wohnkompanie NRW, the quarter is well connected to Cologne's main railway station and Cologne-Bonn Airport.
There are also several bus stops in the immediate surroundings, as well as local amenities, school and medical facilities, green spaces, while a new tram stop is also planned.