Instone Real Estate: Neighbourhood Development in Dortmund's Gartenstadt Sub-District Starts with Urban-Planning Qualification Procedure

Instone Real Estate: Neighbourhood Development in Dortmund's Gartenstadt Sub-District Starts with Urban-Planning Qualification Procedure

- Potential for a gross floor area of around 30,000 square metres

- Heterogeneous use concept

- Opening colloquium already convened; jury meeting scheduled for March 2020

- Construction work expected to start in 2022

Essen/Dortmund, 16 December 2019: Instone Real Estate, one of Germany's leading residential developers, just kicked off an integrated project development in Dortmund by hosting an urban-planning qualification procedure. The acquired project property measures around 1.7 hectares and potentially provides enough space for a gross floor area of around 30,000 square metres. In addition to the primarily residential use, the plans also call for the creation of commercial premises. The Gartenstadt sub-district in Dortmund, which includes the site on Max-Eyth-Strasse, counts among the city's finest residential locations because of its proximity to the inner city and its use of open spaces.

The qualification procedure initiated by Instone serves the purpose of developing an urban-planning design that optimally integrates the new residential quarter in the existing structure of the southern part of Gartenstadt while creating residential accommodation for various groups of occupiers. In addition to privately financed apartments, the project is supposed to include subsidised housing.

Stefan Dahlmanns, in charge of Instone's business activities in North Rhine-Westphalia, commented: "The conversion and revitalisation of the abandoned office location follows modern urban-planning principles. We are about to create an attractive urban residential quarter that lives up to the guidance for a 'city of short distances.' Together with the participating architectural teams, we will now narrow down the ideas into specifications and develop a sustainable and adequate urban development master plan for this special area."

The qualification procedure will serve as basis for the local development plan yet to be drafted, and will be facilitated by the Dortmund-based planning firm of scheuvens + wachten plus planungsgesellschaft mbH. The opening colloquium took place on 03 December 2019 while the jury meeting is scheduled for 04 March 2020. A total of four planning firms are participating in the procedure, all of them with a proven track record in urban planning and housing development.

About Instone Real Estate (IRE)

Instone Real Estate is one of Germany's leading residential developers and is listed in the SDAX. The company develops attractive multi-family and residential buildings as well as publicly subsidized housing, designs modern urban quarters and refurbishes listed buildings for residential use. Buyers are mainly owner-occupiers, private investors intending to buy and let, and institutional investors. In over 28 years, Instone Real Estate successfully developed more than one million square metres. Around 360 employees work at nine locations nationwide. As of 30 September 2019, the company's project portfolio comprised 52 development projects with an expected total sales volume of roughly 5.4 billion euros and more than 12,000 units.

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Instone Real Estate
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