Essen-headquartered Instone Real Estate has started development of a “generational living” project in Rosenheim, south-east of Munich. The scheme, which is being jointly undertaken with company BayernCare is located in the city’s mixed-use Lokhöfe district and will accommodate seniors and students alongside each other.
The project comprises 142 student apartments which Instone will develop, 44 apartments for the elderly and a care facility for a total of 81 residents. The senior housing component will be developed by BayernCare.
BayernCare managing director Günther Marzog said that the combination of senior citizen and student housing is groundbreaking. “Integration into urban structures is particularly important for seniors. Here you are in the middle of life, in the immediate vicinity of young people and close to shopping and meeting places,” he said.
The project comprises two adjacent seven-storey, L-shaped buildings, separately housing senior citizens and students. The buildings are designed to create a sheltered inner living area with a green inner courtyard where the different generations can relax and meet.
The student apartments, all now sold, will range in size from 19 to 36 sq m and there are 12 different apartment types. An underground parking area will provide car spaces and cycle storage.
BayernCare has pre-let the care facility to the Charleston Group, which will also provide a range of care and domestic services for the retirement home residents.
S&P Commercial Development is developing Lokhöfe district’s commercial areas which will comprise 10,600 sq m of office space and 2,200 sq m of retail space in addition to residential buildings. The district will also include a 145-room Premier Inn hotel and a 250-space multi-storey car park. The new city quarter will be completed in 2023.
Author: Paul Strohm
Source: Real Asset Insight