Topping-out ceremony for new “THE FIZZ Wien” in Vienna
- Topping-out ceremony celebrated today with around 120 guests
- Construction work on residential building for students and young professionals on schedule
- Opening of property planned for 2017/2018 winter semester
- Apartments to be let from July 2017
International Campus, Stonehill Group, Pegasus Capital Partners and HABAU celebrated the topping-out ceremony of “THE FIZZ Wien” in the city’s 20th district Brigittenau with more than 120 guests this afternoon. A total of 632 high quality apartments for students and young professionals with showers and pantry kitchens, plus racks for 350 bicycles and 81 car parking spaces, are being built on Dresdner Strasse. The ground floor of the building will consist of commercial space of 1,150 square metres. The project was developed and financed by Stonehill Group in cooperation with Pegasus Capital Partners GmbH, and sold to an investment company of International Campus AG as part of a forward deal in December 2016. The total contractor is the Austrian HABAU Hoch- u. Tiefbaugesellschaft m.b.H. The building that is to become “THE FIZZ Wien” will have a gross floor area above ground level of more than 26,000 square metres over seven floors.
Alexander Gulya, CEO of International Campus Austria, said: “THE FIZZ Wien is our first project in Vienna. We are therefore delighted at the great turn-out for the topping-out ceremony. Construction work is on schedule and we intend to open in time for the 2017/2018 winter semester. Letting will begin in July.” Gulya continued: “In the heart of Vienna’s now very popular Brigittenau residential district, we are creating highly sought-after, small-scale housing for students and young professionals. The Brigittenau is the second-fastest growing district in Vienna, and its location between the Danube and the Donaukanal makes it the district with the second-highest share of waters. Other benefits include the great connection to the local public transport system and its proximity to the adjacent 2nd district.”
Dr. Henrik Medla, a member of the management of Pegasus Capital Partners, commented:
“Thanks to its good infrastructure, high social standards and cultural variety, Vienna is one of the cities with the world’s highest quality of life. It is also centrally located in the heart of Europe and is enjoying steady population growth. More than two million people will live in Austria’s capital by 2023. This makes Vienna a highly attractive and secure investment location. We are happy to have found a competent investor and operator with proven brand and service expertise in International Campus, and would also like thank our project partner Drees & Sommer for the good cooperation.”
Thomas Reicher, Divisional Manager for HABAU, added: “As a result of the cooperation in project management between the builder, project management, the planning company and all those working here on the site, optimal conditions have been created to finish the property on time by the end of September – despite the tight construction schedule and unusually harsh winter – and to hand it over to the owner with full confidence in its high quality. Work to bring furnishings into the apartments will begin in the next few weeks. We would like to extend our warmest thanks to all the companies involved in the work on the project.”
With around 200,000 students, Vienna is the largest university city in the German-speaking world and even surpasses Berlin in this regard. The biggest academic institutions are the University of Vienna, which has around 95,000 students, the Vienna University of Technology, roughly 29,000 students, and the Vienna University of Economics and Business, approximately 23,000 students in the 2015/2016 winter semester.
Note on image rights: These images may be used for the purposes of reporting on International Campus, Stonehill Group, Pegasus Capital Partners and HABAU. Please use the following source:
Internationals Campus AG / Paul Gruber. The images may only be processed for ordinary usage.