Implenia enters the German project developer market
Implenia has bought a plot of land from the city of Darmstadt to build a residential development there. This marks Implenia's planned entry into the German real estate development market, it said.
Implenia is acquiring the inner-city Marienplatz site from the city of Darmstadt; the purchase agreement was signed on June 2, 2021. In 2019, Implenia won the urban planning realization competition with Darmstadt-based Netzwerkarchitekten and GTL Landschaftsarchitekten from Kassel, qualifying it to acquire the site. Currently, the 1.4-hectare wasteland in the city center is used as a parking lot.
The winning design calls for a meandering residential development with a municipal daycare center and a separate 15-story high-rise building. Approximately 30,000 square meters of gross floor area will be created, comprising about 310 rental and condominium apartments. 25% of the gross floor area is earmarked for social housing and at least 20% for middle income. Some of the first floors are planned for public-oriented use. According to Implenia, the project volume is around EUR 100 million (approx. CHF 110 million). (ah)
