Hamburg's Holsten area: right of first refusal as an opportunity for affordable housing!

Hamburg's Holsten area: right of first refusal as an opportunity for affordable housing!

A disused piece of history in Hamburg: The former Holsten area in Altona is waiting for a future that seems uncertain to date. Hinz and Kunz reports that the 86,000 square meter site, which was once used for brewing beer, has been quiet for five years. Actually, over 1,300 apartments were supposed to be built here, but the plans were never implemented. The owner of the area, which is very important to the city, is the Adler Group, which is currently in financial difficulties and would like to sell the area.

The municipal housing company Saga and Quantum-Immobilien AG have received exclusivity in purchasing the site and are now in negotiations. But given this situation, things are boiling in the city. The chairman of the Hamburg tenants' association, Rolf Bosse, criticizes the fact that a transaction at market price could bring the Adler Group a hefty profit. In order to counteract such speculative claims, Bosse is calling on the city to exercise its right of first refusal in order to be able to strike at a cheaper price.

Criticism and support for the right of first refusal

The discussion about the right of first refusal has gained momentum in the last few weeks. T Online highlights that the city has not yet used its right of first refusal, which has led to stagnation in the development of the Holsten area. Instead, the city could use the right of first refusal to purchase the property at the officially determined market value and thus avert the risk of being squeezed out by private investors. Critics warn that it is precisely the social conditions that could be left behind in the discussion about the Holsten area. Affordable living space is in danger of becoming a scarce commodity, while in addition to a new urban district, the preservation of historically valuable old buildings should also be ensured.

This is where a petition comes into play, which is supported by various sides, including the Hamburg Tenants' Association. The “Knallt am Dollsten” initiative and the Hamburg Monument Association not only see the exercise of the right of first refusal as protection against speculation, but also hope for a future-oriented and environmentally friendly development of the area.

Setting the course for the future

In the midst of this dispute, future urban development is a different story. The city day points out that the planned amendment to the building code could give cities greater scope for action, but important measures to strengthen the right of first refusal were missing. Although the federal government has tried to establish pre-emption rights in environmental protection in its coalition agreement, there are no realities and concrete implementation. The issue of the right of first refusal could therefore become the key to solving emerging problems in the real estate market.

“The Holsten area is not just a piece of land. It is about the future of an entire neighborhood,” said the concerned voices of residents and tenant associations. It is clear that the city must act now to break the current course of speculation and create a livable neighborhood for everyone. If the city does not stop the sale, the fate of this historic site could change dramatically.