Project developer GBI lays the foundation stone for 42 new dwellings in the city of Fürth, Northern Bavaria, on the site of the listed "Pechhüttn" estate

The future tenants pay 4.70 or 5.70 euros per square metre for 36 subsidised apartments / Funding comes from the State of Bavaria / Also freely financed, listed units and maisonettes with roof terraces are being built / completion in autumn 2019 / Fürth's Lord Mayor Dr. Thomas Jung praises the attractiveness for young families and the creation of a new identification mark for the city

Berlin 02 October 2018. The property project developer GBI Wohnungsbau has laid the foundation stone for the construction of a new residential complex at Schwabacher Strasse 53 in the city of Fürth. A total of 42 apartments will be built on the listed "Pechhüttn" estate and on the adjoining land areas by autumn 2019. Of these, 36 are publicly subsidized dwellings, offering Fürth's residents low-rent, barrier-free living space in two new six-storey buildings. The size of the apartments varies between 50 and 107 square metres.

The residents of the city in Northern Bavaria pay either 4.70 euros or 5.70 euros per square metre under the income-oriented funding scheme provided by the state of Bavaria.

Of the six privately financed apartments without a statutory rent limit, four units sized between 41 and 61 square metres each will be provided by the refurbishment of the listed building. In addition, two maisonettes of around 130 square metres each and with an additional large roof terrace will be made available in the attic of the new building. Markus Beugel, Managing Director of GBI Wohnungsbau, explains: "This combination of different apartment types is exemplary because we utilise the potential of the site in an ideal way". He adds: "With this project, we are providing urgently needed affordable living space; we preserve a listed building and are making best use of the unique view from this location for two prestigious maisonette apartments." In total, more than 2,800 square metres of housing space will be generated.


Particularly attractive for young families

All apartments feature a balcony, a terrace or a loggia. In addition, an underground car park with 21 parking places will be built. In the outdoor areas, GBI Wohnungsbau will also set up a garden with a playground, which will link the three buildings into a single unit. There will also be storage space for bicycles and roofing for prams. Fürth's Lord Mayor Dr. Thomas Jung, who laid the foundation stone together with Markus Beugel and representatives of the other companies involved in the construction, is pleased about the additional housing facilities. "These new opportunities are particularly suitable for young families. Also, this clearly boosts the attractiveness of our city", observes the Lord Mayor. He appreciates of a further aspect in the integration of the historical building fabric into the project: "The 'Pechhüttn' is part of Fürth's history. For me, the preservation of historic buildings is an important and worthy identification hallmark of urban society."


Emmy Humbser: a socially committed namesake

The residential complex is named after Emmy Humbser, a well-known Fürth public figure. She descended from a brewer’s family in the city that had shaped Schwabacher Strasse significantly with its brewery edifice. Emmy Humbser was particularly distinguished by her social commitment, for example as Chairwoman of the German-Evangelical Women's Association and Principal of the Luisenheim in the city of Fürth, which provided shelter for single women workers who had moved from the countryside to the city. Emmy Humbser also made it possible for women and girls to take an affordable holiday. "That's why she is a suitable namesake for the sponsored apartments," GBI Housing Managing Director Markus Beugel points out.


About GBI AG and GBI Wohnungsbau GmbH:

GBI AG and its sister company GBI Wohnungsbau GmbH develop hotel, apartment and residential projects. Since its foundation in 2001, the company has sold or placed properties in Germany and Austria with a volume of around 1.7 billion euros, completed either on its own or with partners. GBI AG's hotel project developments comprise 13,489 rooms. The company is active for all relevant national and international brands from budget to up-scale segments. Project work for the long-stay segment has grown particularly strongly. Since 2010, the commitment to developing and operating micro-apartments for students, business travellers and private individuals has been intensified under the umbrella of the SMARTments® brand. In the commercial area of SMARTments business, the project list includes 1,000 apartments in Munich, Hamburg, Berlin, Mannheim and Vienna (757 apartments in stock, approx. 240 apartments in planning). GBI Wohnungsbau GmbH is active nationwide both in the SMARTments student and SMARTments living sectors and in classic subsidised residential construction. To date, 3,947 student apartment places have either been completed or are under construction in Berlin, Hamburg, Frankfurt, Cologne, Darmstadt, Mainz, Freiburg, Erlangen, Nuremberg, Essen, Vienna and Graz. In addition, there is the development of new SMARTments living projects in Hamburg and Wiesbaden. A substantially growing area of commitment is the development of privately financed and subsidised rental housing with currently around 570 residential units at 11 locations. The parent company of GBI AG and GBI Wohnungsbau GmbH is GBI Holding GmbH, a 100% daughter of the Moses Mendelssohn Foundation. The board members of GBI AG are Reiner Nittka (Spokesman), Markus Beugel, Dagmar Specht, Clemens Jung and Bernd Reitenspieß. GBI Wohnungsbau GmbH is headed by the three managing directors Markus Beugel, Guido Bode and Clemens Jung. The Supervisory Board consists of Dr Manfred Schoeps (Chairman), Ralph-Dieter Klossek (Deputy Chairman) and Dr Günther Zembsch.


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