Formart to convert Cologne factory building into resi scheme

Formart to convert Cologne factory
building into resi scheme
10:26 2015-06-12
CIJ Journal
Documents attached:
Formart
acquired
a
4,300
sqm
warehouse
in
Cologne-Nippes, with plans to convert it into 50 residential
units, including duplex apartments and townhouses,
ranging from 50 sqm to 170 sqm. Formart expects to
receive the building permit in the first quarter of next year
and start construction by the middle of 2016. “Demand for
inner-city housing in Cologne is very difficult to meet. Each
year, the city counts some 5,800 new citizens. And the
trend is to continue in the future. In addition, dividing lines
between living and working are increasingly blurred.
Properties that take this megatrend into account are hard
to come by,” said Andreas Graf, general manager at
Formart.
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