Residential construction project "La Vie", Berlin Prenzlauer Berg
Since its foundation in 2003, WGF AG has a strong tradition in residential properties –first with residential properties in North-Rhine Westphalia, then also with property held in other parts of Germany. These rich experiences of dealing with residential property and with the requirements of tenants strongly guide our new development projects in residential real estate.
In the middle of Berlin Prenzlauer Berg, south of Kollwitzplatz, a new residential development called "La Vie" is set to be developed on a plot of land located between Strassburger Strasse and Saarbrücker Strasse, with more than 350 rental apartments, compromising a total living space of 31,000 sqm. The development will also feature a children´s day nursery, an aparthotel and local shopping facilities. It is scheduled to be completed by the end of 2014.
Plannig permission has been granted for the first phase of construction, and construction work is set to commence in 2012.
Facts
- land area 17,800 sqm
- start of construction 2012
- completion: four construction stages 2014
- project volume 100 Mio. Euro
- total living space 31,000 sqm
- gross floor area 49,000 sqm
- 5-7 floors
- 362 rental apartments
- 282 underground parking spaces
- children´s day nursery, local shopping facilities, boarding house
Letting forecast
Letting projections for the apartments Strassburger Strasse / Saarbrücker Strasse are very positive due to the high demand for rental flats in the district Prenzlauer Berg. In the last 10 years the district recorded a population growth of more than 10 percent. Demographers have predicted that the above-average growth trend is set to continue. Most prominent among those moving to the district are young people aged 27-45. The district has established itself as one of the most sought-after residential locations of Berlin.
The WGF AG as project developer
WGF AG is specialized on construction projects and on the revitalization of vacant properties. WGF AG develops sustainable utilization concepts, carries out all planning and construction work with the architects and engineers of WGF AG´s subsidiary Ilse Bau und Planung GmbH, and the end, sells the properties to property investors.