Aarau: HRS presents "Plan B" for stadium project
HRS Real Estate AG is still working out a "Plan B" in parallel to the existing project of the Aarau football stadium. The reason is economic and financial considerations, the company says.
The stadium project in the Torfeld Süd area of the city of Aarau has had a legally binding building permit since May 2016. However, "objections, legal proceedings up to the Federal Supreme Court, changes to regulations and laws, new requirements imposed by the Swiss Football League for stadium operations, and a changed market environment" would require an economic and financial reassessment of the project, according to HRS Real Estate AG. The real estate company is the developer of the stadium project and owner of the land.
Originally, a cross-financing of the soccer stadium was planned via a shell use with a shopping center, because the rumored purchase price of CHF 36 million to be paid for the stadium is only intended as partial financing. However, due to booming online retail, falling margins and changed expansion plans of retailers, this cross-financing cannot currently be achieved on the market, says HRS Real Estate. As a result, the stadium project in Aarau - in addition to covering the additional and extra costs - is currently also lacking the planned "residual financing" via the shopping center.
High-rise residential buildings instead of shopping center
The "Plan B" as an alternative to the previous, building-approved project now envisages that the current stadium will be built without a shopping center and that the required residual financing will be provided by residential and commercial buildings. The Aarau soccer stadium would then be built in the same shape and size as before, but would be lowered by seven to eight meters. In addition to the stadium, the previously planned longitudinal building in the south and three new high-rise buildings in the east with heights of up to 75 meters would be built on the Torfeld Süd site. To implement this idea, HRS Real Estate AG recently purchased an adjacent plot of land.
In the next few months, an indicative project will show how the various buildings could be arranged. Ideally, the first game could kick off in the new stadium in 2021.
BNO must be adapted
The city council of Aarau announced that it supports the two-track approach of HRS Real Estate and the development of a "Plan B". This offered the realistic chance that the common goal of a new football stadium for FC Aarau in Torfeld Süd would be achieved. The previous preliminary contract with HRS from 2007 was therefore extended for the sixth time. It provides for Stadion Aarau AG to purchase a football stadium from HRS Real Estate AG.
However, in order to realize the revised project, the building and land use regulations of the Aarau municipality must be adapted in this area - in particular for the planned high-rise residential buildings. The city council is therefore initiating a separate partial revision for the eastern area of Torfeld South in parallel with the overall revision of the building and land use regulations (BNO). The participation procedure will begin on May 12, 2017.
The partial revision stipulates that the three high-rise buildings will only be approved if the stadium is also built. Both the overall and the partial revision of the building and use regulations are to be submitted to the residents' council for a decision by the end of the year.
