Wph Wohnbau and Projektentwicklung Hamburg has acquired a plot in Hamburg from a joint venture of Quantum and AIG.
The 4,500 m2 plot, on the former freight terminal east of the city park in Hamburg’s Winterhude district, came with a building permit for 85 residential units. Wph is planning to develop a four-storey building with units sized between 57 m2 and 120 m2.
Construction work is expected to start in mid-2013 and completion of the project is planned for the end of 2014. The building will be developed to the standard of the KfW-Effizienzhaus-70 energy-saving regulation.
The company has previously developed residential projects Wandsbeker Höfen and Aquamarin in Hamburg.
Wph Wohnbau CEO Simon Vollmer said: “The living quality created shows what excellent opportunities vacant inner-city land provides for the development of modern housing.”
