With an investment volume of 50 million euro, a joint venture between Comoodum and Consulting Partners Hamburg is developing the Ried Høfe residential quarter in Hamburg’s Rissen district. The site, formerly a sports field, will see the construction of 73 residential units.
Since 2013, the area adjacent to the Iserbarg Elementary School has been earmarked for residential development. As compensation for the Rissen Sports Club, two artificial turf pitches were built years ago on Marschweg. These municipal investments are expected to be financed through the sale of the former sports field.
Areal with 16,000sqm at the Iserberg
Following a tender process at the end of 2018, the Hamburg Real Estate Management and Property Agency (LIG) sold the 16,000 sqm site at Iserbarg via an asset deal to a joint venture between Hamburg-based project developer Comoodum and project manager Consulting Partners Hamburg (C.P.H.). The Ried Høfe residential quarter will be realized by the Ried Høfe Land Development Company.
In line with the tender specifications, the development will include 73 residential units, of which 34 will be publicly subsidized apartments in three multi-family buildings, and 39 privately financed single-family and row houses, encompassing over 10,000 sqm of total living space.
Purchase Prices Around 1 Million euro
Marc Ihsen von Buchwaldt, managing partner of C.P.H., aims to create a development with the Ried Høfe that will “give Rissen a new face.” The design, featuring water-struck bricks and varied, greened roofs, was created by Hamburg-based architectural firm Baumschlager Eberle.
The sale of the subsidized apartments and marketing of the single-family homes will begin in May, managed by the new construction team at CVJ Kapital & Immobilienberatung. Detached single-family homes, ranging in size from 180 sqm to just under 200 sqm, will be offered at prices between 940,000 and 1.25 million euro, depending on plot size (112 to 507 sqm). Row houses (144 sqm to 207 sqm) are priced between 785,000 and 1.1 million euro. Construction is set to begin in autumn.
