GEG German Estate Group AG based in Frankfurt just presented its plans for the PASING CENTRAL quarter development to the public, which will develop the area between Bäckerstrasse, Am Schützeneck and the Pasing Arcaden shopping centre in Munich’s Pasing district. On a site with a surface area of around 6,920 sqm, existing building stock will become part of an integrated quarter that is to include condominiums, retail venues, rental flats, subsidised housing, and doctors' offices. The total investment volume will come to approximately EUR 85 million. The renowned architectural firm of MSM Meyer Schmitz Morkramer won the architectural design competition for the project in 2015 and completed the planning now.
The buildings already located at the addresses Bäckerstrasse 1 (a high-rise featuring flats and doctors’ offices) and Bäckerstrasse 3 (apartment building and medical centre) will be preserved, refurbished in parts, and given a new energyefficient façade so as to integrate them harmoniously into the redesigned area. Incumbent tenants will not have to vacate their rented premises during the building works.
The single-storey existing building along Bäckerstrasse will be replaced with a new four-story structure. Ground floor and first floor will provide around 2,400 sqm for retail and gastronomy use. In the other upper floors, 12 subsidised flats will be created.
At the east end of the site, 66 condominiums will be developed in a new building of three floors and one recessed storey including roof terraces. An attractive promenade called “Paseo” will connect the site to the Pasing Arcaden shopping centre.
Construction work is scheduled to start in summer 2018, and the new quarter is expected to be completed by mid-2020. All of the works were planned in close consultation with Munich’s city council, and seek to accommodate the interests of the incumbent tenants, including those of the retailers.
Patrizia Glawon, Managing Director of GEG Development GmbH: “Our PASING CENTRAL project is the cornerstone of the successful development of the district around Pasinger Bahnhof and opens the area up to the "Paseo" promenade. It thus makes a significant contribution to the attractive design of the area and enhances the station location. Our contribution will include both an appealing appearance and attractive residential units plus expanded convenience retail options through additional stores.”
“PASING CENTRAL” is the second property development after “Junges Quartier Obersendling” that GEG pursues in Munich. The “Junges Quartier Obersendling” project is turning the former Siemens compound into an educational campus intended mainly for young people. Another high-end commercial property in Munich held in the GEG property portfolio is the Sapporobogen office building across from the Olympic Park.