HRS buys Metropol site in Arbon
According to a report in the "St. Galler Tagblatt", HRS Investment AG has taken over the Metropol site in Arbon. The "Riva" project, a condominium development, is to be built there.
The approximately 7,400 sqm plot around the former hotel "Metropol" in the lake bay of Arbon has been signed over to HRS by the Migros Ostschweiz cooperative on January 31, according to the publication in the official gazette, reports the St. Galler Tagblatt. HRS has been planning to develop the site with the "Riva" residential project for several years. However, the design plan procedure is still pending and is overlaid by the question of whether the building of the former hotel "Metropol", which is located on the site, is worthy of protection.
According to the newspaper report, a top expert opinion commissioned by the city council affirmed the hotel's worthiness of protection. However, the economic development of Arbon as well as the urban development are further criteria for an overall assessment. The city council wants to make its decision by the summer vacations at the latest and then announce it at a public information event.
The "Riva" project is part of the Saurer WerkZwei site development in Arbon, which is being realized by HRS Real Estate AG. As part of the development, the company recently submitted a building application for the Breitehof site to the town of Arbon. Four residential buildings with eleven condominiums and 47 rental apartments are planned. It is planned to start construction work in early summer 2017 and to complete it in spring 2019. The planning and construction work is being carried out under the management of HRS Real Estate AG in collaboration with the St. Gallen office of K&L Architekten.
