Tailwind for Central Living Düsseldorf

These political decisions and close coordination with the administration of the state capital Düsseldorf pave the way for the realisation of this urban development project near the main railway station, formerly known as ‘Grand Central’. The decision forms the basis for economically viable implementation and defines the next steps for adapting the project to current housing policy and urban development requirements.

The planning area for the ‘Central Living Düsseldorf’ project covers almost 3.5 hectares in the immediate vicinity of Düsseldorf's main railway station. Development plan No. 03/018 has been legally binding since 2018 and provides for four building blocks with three high points. A general residential area is planned in the eastern part, and a mixed-use area in the western and northern parts.

The first construction phase, comprising 147 subsidised apartments, was successfully completed in 2023 along Readinger Straße. The planned construction phases beyond this have not yet been realised, partly due to changed market conditions and increased construction and financing costs. The political decision takes into account the changed conditions and supports significant adjustments in the course of the project. These include increasing the proportion of residential space, a sustainable parking concept, the expansion of subsidised housing construction, flexible architectural implementation and the relocation of the two daycare centres to the central interior area of the neighbourhood. The next step is a quality assurance process with which the state capital aims to define and secure the urban and design value of the project.

"The political committees' decision in principle gives us the planning security we need to continue developing the project responsibly. ‘Central Living Düsseldorf’ stands for urban, mixed-use and affordable living in a central location. The modifications that have been agreed upon are an important step towards feasibility – both economically and ecologically. Now there are many detailed tasks that need to be resolved together with the city, the planning participants and future partners," says Klaus Franken, CEO of Catella Project Management.

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About Central Living Düsseldorf

The entire neighbourhood covers a total area of 34,145 sqm. A total of 11 project sections comprise approximately 1,400 apartments, a supermarket, two daycare centres and a neighbourhood car park with approximately 950 parking spaces, which are arranged to provide noise insulation along the railway line. Three high-rise buildings, a row of buildings along Erkrather Straße and additional apartments in the quiet inner area offer a wide range of different types of housing to cater to a broad spectrum of target groups, age groups and income groups. The inner courtyards are largely unsubstructed, allowing for high-quality greening.

About “Cooperative Innovative Living Germany” (CILG)

To achieve the common goal of making housing affordable, Catella is implementing various innovations with Cooperative Innovative Living Germany (CILG programme): planning, construction and the entire process are being done differently. With modular processes and sustainable concepts, CILG is redefining housing construction and creating attractive investment opportunities.

CILG is an innovative investment programme that focuses on strategic partnerships, industrial construction methods and the highest ESG standards. The aim is to provide affordable housing in Germany's most popular cities.

CILG aims to create housing for all age groups and focuses on age-independent, barrier-free living. “With the Südviertel in Seestadt, we have already created a successful model that shows how sustainable and needs-based housing construction works,” explains Klaus Franken.

By 2030, at least 10,000 new residential units are to be created in Germany. Further information on the Catella CILG programme is available at: https://www.cilg-invest.com.

About Catella Project Management

Catella creates living spaces: Catella Project Management develops new neighbourhoods with a long-term perspective. The company implements the concept of the ‘10-minute city’, with a mix of commercial and residential use, attractive living space for all, a sustainable working environment and the diversity that ensures the long-term value of the neighbourhood. New mobility concepts give people back their freedom in the city; the spaces between buildings are greened and designed for people to spend time and meet. The neighbourhoods developed by Catella are in central locations, are designed to be both car-friendly and car-free, and are forward-looking in their overall design. The ICG's Social Impact Investing Initiative guide, which Catella Project Management co-developed and financed, won the imAward in the Social Responsibility category.

Previous projects include Living Circle in Düsseldorf, Living Lyon in Frankfurt and various commercial projects. The Seestadt and Düssel-Terrassen neighbourhood developments are the two largest certified KlimaQuartiere.NRW neighbourhoods in North Rhine-Westphalia. In the Rhineland alone, Catella is building around 4,000 new apartments, including 147 subsidised apartments in Grand Central at Düsseldorf Central Station. In the office segment, Catella focuses on prime CBD locations such as the green flagship project KöTower, the only high-rise project on Düsseldorf's prestigious Königsallee.

Catella Project Management is part of the Catella Group, Stockholm, a leading specialist in real estate investment and fund management with offices in 12 countries. The group manages assets of more than €14 billion. Catella is listed on the Nasdaq Stockholm in the Mid Cap segment.

More about Catella Project Management: www.catella.com/en/germany/project-management

Press Contact
Klaus Franken
+ 49 211 90 99 35 10
+49 172 3181210
klaus.franken@catella-pm.de