Zurich: Redevelopment of the Koch site takes another step forward
The Zurich City Council has approved the partial revision of the zoning ordinance "Koch-Areal" and the associated private design plan. Together with the building lease agreements and the object credit for the planned neighborhood park, the documents were submitted to the city council.
The City of Zurich acquired the site in December 2013 for CHF 70 million, and in September 2017 it awarded the contract to Allgemeine Baugenossenschaft Zürich (ABZ) and Bau- und Wohngenossenschaft Kraftwerk1 to build the apartments. The real estate development company Senn was awarded the contract for the construction of a commercial building offering 10,000 sqm (project title: "MACH"), Grün Stadt Zürich (GSZ) will create the neighborhood park. All building rights have a term of 62 years, with the possibility for two extensions of 15 years each. The building lease agreements secure annual revenues of around CHF 580,000 for the City of Zurich.
The city of Zurich and the developers expect construction work to start in 2023, as soon as the planning basis has become legally binding and the relevant permits have been issued. Part of the Koch site is currently occupied; the city intends to tolerate the occupation until construction begins. (mr)
