Constructive Component
Affordable Housing Breakthrough in Düsseldorf: New Project Offers Apartments Below 10 Euros per Square Meter
In a significant move towards making the city more accessible for all, Düsseldorf's Mayor, Dr. Stephan Keller, has praised a new housing project that aims to provide affordable living spaces for middle-income citizens. The initiative, managed by the Düsseldorf Alliance for Cooperative Housing, has made 134 newly built apartments available, with an average rent of 9.60 Euros per square meter – approximately 30% below the average new construction rent in Düsseldorf.
The Düsseldorf Alliance for Cooperative Housing, comprising cooperatives Wogedo, BWB, and DWG, collectively invested approximately 34.5 million Euros in the creation of over 12,000 square meters of living space. The project, located in the Schlosser area, is now ready for rental.
The key to achieving such low rents lies in the cooperative's focus on community, sustainability, and economic efficiency. Modular building methods, sustainable construction, and urban planning that balances density with green communal spaces are some of the practices employed to reduce construction costs and ensure affordability.
TOR 5 Architects, based in Bochum, in cooperation with wbp landscape architects, won an architectural competition for the new housing project. The cooperative structure of the alliance also plays a crucial role in limiting profit motives, fostering shared ownership, and long-term affordability commitments.
To rent one of these apartments, individuals must become members of the respective cooperative, if not already members. The income limit for renting one of these apartments is 60% above the usual limit for a housing benefit certificate.
The city of Düsseldorf sold the property to the Düsseldorf Alliance with the aim of creating affordable housing. Andreas Vondran, a board member of Wogedo, emphasizes that the new housing offer is specifically aimed at citizens with middle incomes, who are often overlooked in the housing market.
This innovative approach to affordable housing in Düsseldorf is a testament to the city's commitment to making it a place to live for everyone, regardless of income. The success of this project could pave the way for similar initiatives in the future, making cities more accessible and inclusive for all.
[1] For more information on cooperative housing initiatives and their practices, please refer to [relevant sources].
- The cooperative housing alliance, which includes Wogedo, BWB, and DWG, invested in a new project that offers affordable housing with an average rent of 9.60 Euros per square meter, marking a significant breakthrough in Düsseldorf's finance sector aimed at providing for middle-income citizens.
- The Düsseldorf Alliance for Cooperative Housing, in collaboration with TOR 5 Architects and wbp landscape architects, is investing in real-estate development, adopting sustainable practices such as modular building methods and urban planning for a greener environment, and fostering a lifestyle compatible with economic efficiency.
- The Schlosser area in Düsseldorf now features a business opportunity with income potential, as the affordable housing project developed by the Düsseldorf Alliance for Cooperative Housing disrupts the market by offering rental apartments priced below 10 Euros per square meter, inviting investors to consider investing in this unique lifestyle endeavor.
