|Share Convalor||50 %|
|Residential space in sqm||28.000|
On approx. 16,285 sqm area in "Ringstraße 38-44" in Cologne, the project development company PE Ringviertel GmbH & Co KG, composed of Bauwens Development GmbH & Co. KG and Convalor, is developing a new residential complex with 18,500 sqm living area, of which approx. 30% will be publicly funded.
The existing building on the property is rented for a period of 3 years to the city of Cologne for the purpose of refugee shelter since March 2016. It is planned to provide a legally binding zoning plan for residential use during the rent term and to start the implementation of the construction project from the second half of 2019 on.
In addition the project initiators have bought the neighboring land
"Ringstraße 46" for the construction of further approx. 9,500 sqm living
space with another project company, named PE Ringviertel 46 GmbH & Co.
KG, to extend the planned development.