Zurich: UBS Direct Residential constructs new replacement building in Schwamendingen
The real estate fund's property on Stettbacherrain in Zurich-Schwamendingen is being replaced by two new wooden buildings with 45 apartments.
The UBS Direct Residential real estate fund is replacing its property at Stettbacherrain 12-16 in Zurich-Schwamendingen, which is in need of renovation and has 18 apartments, with a new construction project. The two new buildings in timber construction with underground parking will offer a total of 45 apartments with 1.5 to 4.5 rooms, according to the UBS Real Estate Switzerland Immo Update.
A central square will be created between the two buildings, connecting the two building entrances and creating a meeting area that opens up to the neighborhood.
Construction work began in April and is scheduled for completion in the second quarter of 2025. According to UBS, the investment volume is around CHF 30 million. (ah)
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