The Fonds Kirchberg is taking advantage of Mipim in Cannes to announce the development of 45,000m2 of gross buildable area at Kirchberg, in the Grünewald Ouest district. Five plots will be built close to the National Centre for Functional Rehabilitation (Rehazenter) and the future Waldorf school. An invitation to tender has been issued to groups of developers, architects and engineers. They will be responsible for designing, building, financing and marketing this mixed urban project.
This new district will stand out from the rest of Kirchberg thanks to its car-free concept. It will house a total of 367 homes of various types, as well as 625m2 of local shops and services. There will also be 1,000m2 of office space. As part of the Housing Pact 2.0, at least 15% of the homes must be affordable housing. The approximately four-hectare plot is bounded by Rue des Labours, Rue de Kevelaer and Rue André Vésale.
The land will be transferred in the form of surface rights and long leaseholds.The aim is to create a neighbourhood on a human scale, with public spaces dedicated to pedestrians. To achieve this, cars will be parked in a 2,000 m2 neighbourhood mobility hub, which will also offer complementary services such as car-sharing and bicycle hire.
The programme features plans for a central square around which the buildings are articulated and which will become the meeting point for the neighbourhood. Five plots are planned, following on from the new Waldorf school (around 600 pupils), whose presence will contribute to the liveliness of the neighbourhood. The inner courtyards of the buildings can be used as green spaces where residents can meet and play. The absence of an underground car park means that large trees can be planted.
An opportunity for investors
“The plateau attracts an international population of executives and expatriates, guaranteeing low vacancy rates and stable incomes for investors,” explains Marc Widong, director of the Kirchberg Fund.
Kirchberg is also one of Luxembourg’s leading business districts, with more than 1.1m square metres of office space and a particularly low vacancy rate. The Grünewald Ouest project therefore represents an opportunity for those wishing to reduce the distance between home and work, making it a potentially attractive product for investors present at the Mipim real estate fair in Cannes.
“The time is right for new projects. Sales prices are stabilising and interest rates are falling. By launching this project today, we are anticipating the market’s recovery, with sales expected within two years,” emphasises Widong.
The second site is close to the first. Illustration: Fonds Kirchberg
A second call for applications for the development of another project within the Grünewald district will be launched in April. This involves two large units that can be developed by two separate developers: an office block with ground floor retail units, and a block comprising residential units, retail units and a crèche. The residential complex includes a 12-storey tower that will house co-living and micro-lodging units.
This article was originally published in .