Deutsch 
Real estate brands
Development

Large-sized revitalization demand

The starting Situation:

The initial situation: 50 multi-storey
residential buildings with 1,100 existing
flats (size: 55 to 220 sq.m.) on a surface
area of 300,000 sq.m., with locations
varying in quality, initially built for families
of members of the U.S. Army, a considerable
backlog of overdue rehabilitation measures,
the onset of dilapidation and almost a
vacancy level of 25 %.

 

In 2005, the apellas Group, Berlin, took
over the entire area of the former
"Hüttenwegsiedlung“ together with
an American investor. A business plan
defining clear goals was established:
upgrading and development of the
existing buildings; within 5 years,
400 existing flats were to be transferred
to private ownership and 700 to be
rented out, the added value was to be
enhanced by subsequent consolidation
(construction of 300 new units), along
with strict compliance with the business
plan and restoration of the existing
tenants' satisfaction.