Hines has picked up a residential development site in the Schöneberg district of Berlin, Germany. The firm plans to develop 530 rental apartments of different sizes, totaling 570,487 square feet, ranging from micro-apartments, generously proportioned family units, along with subsidized apartments. In addition, Hines will develop a commercial component, along with a day care center and units for age-appropriate living. The scheme will mark the firm’s first private rental sector development project in Germany. Avised by Pöllath + Partners, Hines has set a target date for completion of mid 2019.
“This project will provide contemporary living in one of the world’s metropolises— apartments of various sizes, plus high-living comfort for everyday needs,” Christophe Reschke, Hines’ senior managing director, told MHN. “Berlin has an annual increase of 40,000 inhabitants, as well as single households. In the city, there is a high demand for residential sites, especially for rental apartments.”
