Together with the GWG Group as the client, we are delighted to have received planning permission for the redevelopment of the Hertz Block in Munich.
The housing estate from 1939 is getting on in years and no longer meets the requirements for contemporary and sustainable living. The existing buildings, which can no longer be renovated, will be replaced by new buildings in two construction phases. These are seamlessly linked to the first construction phase, which has already been completed.
At the heart of the development are 215 modern apartments, which are complemented by three commercial spaces and generous mobility areas on the first floor.
Implementation in successive phases will allow existing tenants to move within the quarter so that they can be retained.
The second construction phase is already scheduled for completion in the fourth quarter of 2023, with completion expected at the end of 2025. The third phase will then be implemented, with completion scheduled for mid-2029.
Due to its size and prominent location, the realization of this project is also of great importance for Munich and will make a positive contribution to Munich's residential market development.
We are delighted to be pursuing this path together with the GWG Group and to be giving shape to our vision of the future in Munich.