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159 Flats to be Created in Berlin’s Alt-Treptow Sub-District

11. May 2015

A member company of our conglomerate sold the construction project on Heidelberger Strasse in Berlin’s sub-district of Alt-Treptow to the local housing association WBM Wohnungsbaugesellschaft Berlin-Mitte mbH (WBM).

This housing estate consists of seven houses in terraced development, delivering a total of 159 flats and 29 underground parking spots. The 4,000 sqm estate occupies a popular central location on the corner of Heidelberger Strasse and Elsenstrasse, well within Berlin’s rapid-transit circle line.

All of the flats and the basement are handicap-accessible, and two flats will be customised to accommodate wheelchair-bound residents. The flats vary between 1 and 4 bedrooms, and all of them feature at least one balcony or patio, as the case may be. The new scheme, whose construction started in the second quarter of 2015, is scheduled to be completed in early 2017. The two parties agreed not to disclose the purchase price. In order to qualify for social housing subsidies, the project is to be included in Berlin’s 2014 rental and cooperative housing construction program (WFB 2014), which implies that around 40 flats will be let at square-metre rents of 6.00 to 7.50 euros. The project was planned in coordination with the Borough Council Office of Treptow-Köpenick. The development of rent-controlled flats is part of AGROMEX’s contribution to the creation of affordable housing in the borough.