2023-08-08 9:35 CET, Germany | Press release
Dusseldorf, 3 August 2023 – Catella continues to drive forward its projects, both in the residential and office segments. In and around Dusseldorf alone, around 4,000 new apartments are being built with the Grand Central, Duessel-Terrassen and Seestadt projects, and in the heart of the state capital, a new, modern and visionary office tower is being realised in Dusseldorf's prime location with the KöTower.
The Königsallee, or Kö for short, the high street boulevard in Dusseldorf and one of Europe's leading luxury shopping streets, will be partially closed to traffic for the weekend of August 12 and 13, 2023, as a large street festival will celebrate "the end and the beginning" at the same time. The interim use of the "Kunstraum Kö106" will end and the construction project can begin after the city council has unanimously approved the new development plan for the high-rise building on June 15, 2023. Catella and WPV as owners have made the premises available to the association "Düsseldorfs Vielfalt Erleben" free of charge for interim use since May 2022. After more than 150 art and cultural events, this is now the end for the time being, as deconstruction work is to begin soon. In addition to the street party, there will be an exhibition in the building's atrium where visitors can find out about plans for all Catella projects in the region and take a peek at how spectacular the view from the new high-rise on the Kö will be later on.
Where the historically famous Apollo Theater (1899-1966) once stood, the "KöTower" will in future embody the new definition of a new working world, in the form of a new building complex almost 70 meters high. Completion is scheduled for 2026. The approx. 28,000 m² of gross floor space will create space for flexible office landscapes, gastronomy, co-working space, conference and event areas and a roof terrace in lofty heights that is also accessible to the public. The special feature: Each rental unit will have its own outdoor area, be it a terrace or balcony - the working world opens up to the open space.
In this respect, the street festival is a foretaste of the KöTower, because the construction measure will create a square by moving the building back, which will invite people to stay and communicate. The high density Friedrichstadt will finally get an oasis of peace without street noise and with inviting outdoor gastronomy. On the weekend of the street festival, the plans of the KöTower will be presented to the public.
In contrast to the current building stock from the late 1960s, the KöTower will set new standards in terms of sustainability aspects and innovations. The previous deficit in quality of stay will be reversed and a "green" lighthouse project will be created in the middle of the city. A special energy concept, permanent green planting on the facade and several open-air oases invite visitors to linger. As the only high-rise in Duesseldorf, various areas will be open to the public, such as the 150 m² roof terrace on the 17th floor. With VR glasses, the magnificent view over the entire Königsallee and the rest of the 360-degree view can already be marveled at this weekend.
In view of the prevailing housing shortage in the metropolitan area, Catella is also offering all those looking for housing an overview of the upcoming supply. All housing projects will be presented in an exhibition and personal contacts will be on site. The spectrum is wide: large or small, for young or old, rental or owner-occupied, senior-friendly and barrier-free, family-friendly, price-regulated or exclusive - the housing mix is geared to the breadth of society. With three neighborhood developments, different demand segments are covered in each case - a brief overview:
Grand Central in the middle of Dusseldorf, not far from the main train station and within walking distance of the Kö, offers urban living. The first construction phase will be ready for occupancy in fall 2023 with 147 price-regulated apartments (WBS).
In the Seestadt, more than 2,000 apartments and an approx. 20,000 m² lake are being built. The project was certified as the largest climate protection settlement by the state of NRW. The first apartments have already been occupied. This fall, 248 apartments will be completed in the first construction phase. Letting is currently underway. The current planning status envisages around 60 publicly subsidised apartments as an extension of the Südviertel. In further construction phases, the spectrum will range from price-regulated rental apartments (WBS) to high-quality condominiums, where you can jump directly into the cool water from your terrace, as well as various commercial and service facilities, e.g. with childcare and senior housing.
With the Düssel-Terrassen, the second largest climate protection housing estate with over 700 apartments and 10,000 m² of green space is being built, also within a few minutes of Dusseldorf city centre. It takes 8 minutes to reach the main train station by S 8. The residential buildings are arranged around the "Green Centre" as an oasis of well-being. The hillside location allows a beautiful view over the Düssel-Auen in the evening light via the terracing. This project is also making good progress. The first building application for three houses with a total of 54 residential units, publicly subsidised, is in preparation. The first excavators are expected to arrive before the end of the year.
At the street festival on August 12 and 13, 2023, there will be various opportunities to get to know the projects better. Catella is happy to be part of this action-packed event weekend between art, music and cultural culinary. A festival with program for the whole family and the Catella photo box will not only provide photo fun, but also great memories.
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About Catella Project Management
Catella creates living spaces: Catella Project Management develops new neighbourhoods with a long-term perspective. In doing so, the Swedish company implements the concept of the "15-minute city", with the mix of uses of commercial and residential, with affordable housing for all, with the sustainable working environment and with the diversity that ensures the sustainable value of the neighbourhood. New mobility concepts allow people to give back the open space in the city; the areas between the buildings are greened and prepared for stay as well as meeting. The neighbourhoods developed by Catella are located in central locations, are planned to be both car-friendly and car-poor, and have an overall forward-looking design.
Previous projects include Living Circle in Dusseldorf, Living Lyon in Frankfurt and various commercial projects such as the C&A headquarters and Telekom's largest service centre. The Seestadt and Düssel-Terrassen neighbourhood developments are the two largest certified climate protection housing estates in NRW. Around 4,000 new apartments are currently being built in the Rhineland alone. 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 around 13 billion euros. Catella is listed on Nasdaq Stockholm in the Mid Cap segment.
