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Frankfurt starts construction of 2,000 new apartments
Frankfurt has started construction of approximately 2,000 apartments, laying the foundation stone in Schönhof district.
City authorities headed by Acting Mayor of Frankfurt Nargess Eskandari-Grünberg pointed out that the first stage of the project includes construction of 150 apartments.
In addition, an underground car park will be constructed with 51 spaces, of which four will be reserved for car sharing.
City authorities pointed out that demand for housing is rising and stressed that the new project will help to alleviate pressure.
The new apartment buildings will boast a central location and excellent connection to public transport, among other, with city authorities stressing that new apartments will be energy-efficient.
Frankfurt is investing approximately EUR 430 million in social housing projects this year, noting that 84 of the 150 apartments that will be constructed in the first phase are funded by local authorities.
The newly launched project is an important part of Frankfurt’s housing policy, with approximately 30% of apartments publicly funded. As part of the project, five day-care centres will be built as well as a school complex and a large park.
The first apartments should be completed and ready for occupancy in 2025, with city authorities stressing that the new park will cover approximately 28,000 square metres and run through the middle of the new neighbourhood.
