THE FIZZ Hamburg Altona

Start of construction for “THE FIZZ Hamburg Altona”

• Modern apart­ment block for young target groups: appren­tices, students and young profes­sio­nals
• Leases concluded with retailer REWE and dm as anchor tenants
• Around 1,500 square metres of retail rental space still available
• 110 apart­ments for appren­tices with monthly net rent starting at EUR 220
• Ground­brea­king planned for second quarter of 2017

Construc­tion work on “THE FIZZ Hamburg Altona” in Hamburg’s central Altona district can now begin. The earthworks required in order to start construc­tion on the long-dormant, approx. 7,500 square-metre plot of land between Strese­mann­strasse, Kieler Strasse and Oever­see­strasse are now complete. The residen­tial complex is likely to be opened in time for the 2019 summer semester. The total invest­ment volume is around EUR 110 million. The project develo­p­ment is financed by HSH Nordbank, and the mezza­nine partner is Atrium Finance GmbH. Ground­brea­king is planned for the second quarter of 2017.

“THE FIZZ Hamburg Altona” will have a tripar­tite façade struc­ture and contain 777 apart­ments for appren­tices, students and young profes­sio­nals. The conve­ni­ence store REWE (1,200 square metres) and the pharmacy dm (780 square metres) have concluded long-term leases and will be anchor tenants in the property. A project-manage­ment agree­ment covering aspects such as client repre­sen­ta­tion has been signed with BECKEN Develo­p­ment GmbH. BECKEN Develo­p­ment has also been commis­sioned with project manage­ment for the other Hamburg projects of Inter­na­tional Campus at Rödings­markt, Holsten­wall and Adenauer Allee/Steindamm.

Horst Lieder, CEO of Inter­na­tional Campus AG, said: “It’s all systems go! The earthworks are finished and we are starting construc­tion work on “THE FIZZ Hamburg Altona”.

Inter­na­tional Campus will revive the long-derelict inner-city plot on Strese­mann­strasse by mid-2019, creating compact accom­mo­da­tion for young target groups on appren­ti­ce­ships, at college or univer­sity and in work who would other­wise struggle on the Hamburg housing market. Rents for the student and young-profes­sional apart­ments have not yet been set, but will be at an appro­priate level for Hamburg. Accor­ding to current plans, net rents for appren­tice apart­ments will start at around EUR 220 per month.”

On seven floors above ground level, “THE FIZZ Hamburg Altona” will contain three living and service products covering a gross floor area of around 36,000 square metres: “THE FIZZ Juniors” for appren­tices, “THE FIZZ Living Cum Laude” for students, and “THE FIZZ Young Profes­sio­nals”. “THE FIZZ Hamburg Altona” was designed by the Frank­furt- based archi­tec­tural firm Magnus Kaminiarz. In addition, the closed perimeter-develo­p­ment property includes 140 under­ground car parking spaces, around 500 bicycle spaces, several roof terraces and planted interior courty­ards. The three building sections will have separate, central entrance areas as well as communal areas and service concepts tailored to the user groups.

“What makes “THE FIZZ Hamburg Altona” so special is not just the project volume, but the tripar­tite building struc­ture, the focus on three target groups and the pionee­ring furnis­hing and utili­sa­tion concept. With the first Hamburg project develo­p­ment, Inter­na­tional Campus AG is adding another two strate­gi­cally important brands to its brand and product portfolio. “THE FIZZ Juniors” is geared towards appren­tices, while “THE FIZZ Young Profes­sio­nals” speaks for itself,” added Lieder.