177 new residential units in Düsseldorf, foundation stone laid for Cube Central 378 district

DÜSSELDORF

177 new residential units in Düsseldorf.

Laying of the foundation stone for the Cube Central 378 district

17. October 2023

Left to right: Pöschl, Schramm, Reißing, Gartmeier, OB Keller, Tkaczick, Kastrati, Fey, Altug

Düsseldorf: The Lord Mayor of Düsseldorf, Dr. Stephan Keller, appeared in person on Thursday when Cube Real Estate GmbH and ZBI Zentral Boden Immobilien Gruppe laid the foundation stone for the "Cube Central 378" urban quarter on Erkrather Strasse in Düsseldorf-Flingern. According to the project developers, a mixed-use urban quarter is to be created. Flats, socially subsidised and affordable housing as well as space for offices, restaurants and retail will be built on an area of approx. 6,100 m2. Completion is planned for 2025. The Cube Central 378 project development had already been acquired by the ZBI Group in October 2022 as part of a "forward deal". Cube Real Estate GmbH had conducted a neighbourhood survey in the course of planning, entitled "Planwerkstatt 378". Tilman Gartmeier, founder and chairman of the management board of Cube Real Estate GmbH: "We are looking forward to creating a quarter in close exchange with the neighbourhood on Erkrather Straße that will interpret the term "home" in a special way; after all, we don't want to build a standard property, but develop a quarter that fits Flingern-Süd."

In his speech, the Lord Mayor named Cube Real Estate GmbH as the new "partners". He said he was impressed that this was a company that not only could build, but also wanted to. He went on to say that more than 4,000 properties had not been built, contrary to what had been promised.

He was presumably referring to the negative headlines in the real estate market in recent months. The Düsseldorf real estate developers Gerchgroup and Development Partner had filed for insolvency in September. And it was probably about the insolvency of the Centrum Group, which also entailed a still uncertain fate for the Düsseldorf porcelain house Franzen. The city's new "partners" are a very young company. Cube Real Estate GmbH was founded as Student Cube GmbH in 2013 by Tilman Gartmeier, an idea he had after graduating from the European Business School in 2013. Just under 10 years later, the group says it has over 100 employees and a project volume of over 2 billion euros. Specialisation is the market with small-scale living spaces, including student housing, micro-living, senior living and shared housing.

City Quarter Cube Central 378

On approx. 13,000 m2 of residential and commercial space, the "Cube Central 378" project will build a total of 177 residential units including socially subsidised and affordable flats and approx. 5,500 m2 of rentable office and commercial space within the next few years. A publicly accessible green space with a playground is to be created in the centre. The architects involved are Henning Shin Architekten (formerly HGMB Architekten), HPP Architekten and Atelier Fritschi + Stahl.

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