PHI Kronsrode GmbH, a joint venture between HIH Real Estate, INDUSTRIA and Pekrul ProjektPartner, is celebrating the topping-out ceremony for 119 residential units in Hannover-Kronsrode. The units are spread over 26 terraced houses and 93 flats and cover a total of 14,000 square metres. 30 of the residential units are publicly subsidised. The residential use is supplemented by a day-care centre with six groups, a district office for youth welfare, a café and an office for a counselling service for senior citizens. The flats are located on site A9. The designs come from the architectural firm Mäckler from Frankfurt. Completion is planned for Q4 2024, with leasing expected to begin in June 2024.
Dr. Steffen Pekrul, Managing Partner of Pekrul ProjektPartner GmbH, comments: “The current times are challenging. Building a high-quality day care centre in a housing project is a task for society as a whole that we are happy to take on, but for which we are also dependent on support. Against this background, I am all the more pleased that we were able to celebrate the topping-out ceremony today.”
Arnaud Ahlborn, Managing Director of INDUSTRIA, says: “The demand for housing is huge. The housing shortage is exacerbated by the crisis in construction. Therefore, every completed housing unit is important.”
Jens Nietner, Managing Director of HIH Real Estate, adds, “The cooperation with INDUSTRIA and Pekrul ProjektPartner in this joint venture has proved extremely fruitful. We are delighted to bring the project to a successful conclusion and thus make a positive contribution to the development of Kronsrode and the strengthening of housing in Hannover.”
HIH Real Estate, INDUSTRIA and Pekrul ProjektPartner are developing a total of three residential properties in Hannover as part of a joint venture: in addition to the aforementioned development site A9, the properties on development sites A1.3 and A6. For this purpose, the three companies have founded the project company PHI Kronsrode GmbH, in which INDUSTRIA and HIH Real Estate each hold a 49 percent stake. The remaining two percent is held by the developer Pekrul ProjektPartner, which also acts as project manager.
The Kronsrode neighbourhood development is the largest housing project in the state of Lower Saxony. A total of between 3,500 and 4,000 residential units are being built on 53 hectares. The residential quarter is located on the south-eastern outskirts of Hanover, about eight kilometres from the city centre. The new quarter is directly connected to the city centre by tram line 6.
