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1 billion for 2,000 apartments: Holsten area gets a breath of fresh air!
Quantum and HMG are acquiring the Holsten area in Altona for 1 billion euros. 2,000 apartments are planned, including social housing.
1 billion for 2,000 apartments: Holsten area gets a breath of fresh air!
A lot is happening in Hamburg-Altona: A consortium made up of Quantum and Hanse Merkur Grund Vermögens (HMG) has acquired the former Holsten site for a whopping 1 billion euros. This purchase is not only a big step for the investors, but also for the city, which is responding to the urgent housing problem with this project. As iz.de reports, around 2,000 apartments are to be built on the site.
The plans are ambitious: around 50 percent of the new residential units will be used as social housing or as living space for students and trainees. This underlines the desire not only to make a profit, but also to contribute to the social mix in the new residential area. Accompanied by Saga, a municipal housing company, and Hamburger Sparkasse, the project is in close coordination with the Hanseatic City of Hamburg and the district. This means that parts of the historical building structure, such as the old brewhouse and the malt silo, can be preserved and harmoniously integrated into the new concept, as n-tv.de mentioned.
A new urban space
Originally the plans were different: a hotel in the converted Juliusturm was planned. Now, however, we are moving towards a lively neighborhood center that will be characterized by a variety of possible uses. However, the long path to this purchase is also remarkable: the 8.6 hectare site has an eventful history. It was sold by Carlsberg to the Düsseldorf-based Gerchgroup in 2016, and the latter has resold it several times without initiating construction activities.
But the time for new developments now seems good. “There’s something going on!” is probably what many residents are probably asking themselves, hoping for a new, attractive neighborhood. The investors' goal is to create a modern living environment that meets the needs of a growing city.
Looking forward to the changes
The coming years will clearly show how the old brewery site will transform into a new urban life. If you look at how an old, industrial site is transformed into a thriving residential area, you can look forward to the first results. The mix of modern living space and preservation of tradition appeals to many. An exciting development for Hamburg that will certainly generate a lot of attention and discussion in the coming months and years.
Whether in the new apartments, in the preservation of the historical building structure or in the creation of social housing - it is clear here that multifunctional approaches are needed to meet the challenges of the urbanization process. And who knows, maybe Hamburg-Altona will soon be popular not only as a place to live, but also as a cultural and social hub in a changing city.