Greystar, a global company for the investment, development and management of rental apartments, and Ten Brinke, a project development and construction company operating throughout Europe, together with the district councillor for urban development, Heike Wessoly, laid the foundation stone for a new residential quarter in Berlin-Marzahn yesterday afternoon. At Jan-Petersen-Straße 14 on the site of the former Carrée Marzahn, a total of 428 privately financed rental apartments will be built by the end of 2028.
An eleven-storey high-rise and a six-storey residential building with studio apartments as well as one-, two- and three-room apartments with private outdoor areas are planned. The quarter will be supplemented by around 860 square metres of retail space on the ground floor for local supply, communal areas for residents and around 111 parking spaces. The project will be built according to current energy standards. Among other things, air source heat pumps will be used, which reduce energy consumption compared to conventional heating systems.
Harlan Schade, Director – Investment, Germany & Austria at Greystar says: "Germany remains an important market for Greystar, where we continue to see great long-term potential for investment in rental apartments. To realize new apartments, long-term investors and strong local partnerships are crucial, especially in a challenging market environment for project developments. JP14 is a good example of how this approach can be successfully implemented. We look forward to developing the project together with Ten Brinke."
Arjen ten Brinke, CEO of Ten Brinke, explains: "Our aim is to implement the projects we have developed with high construction quality efficiently and sustainably. For us, today's laying of the foundation stone is the start of a decisive project phase. Our aim is to combine construction quality, efficiency and sustainability. Together with Greystar, we are realising a residential quarter in Berlin-Marzahn that meets the requirements of modern living in the long term. Every year, we create several hundred new apartments in different rental segments in Berlin and thus contribute to the development of the city."
The location in Marzahn-Mitte has good public transport connections, as well as shopping facilities and education and care facilities in the area. The Bürgerpark Marzahn tram stop is a few minutes away, the Raoul-Wallenberg-Straße S-Bahn station can be reached in less than 20 minutes, and Alexanderplatz in about 40 minutes. There are also several business and technology parks in the area as well as the Mediaspree, one of Berlin's largest office markets with companies such as Amazon, Zalando and Coca-Cola.
Behind the project are two experienced partners with complementary competencies: As a family-run company, Ten Brinke has almost 125 years of experience in the realization of real estate projects and has been active in Germany for more than 50 years. As a project developer and general contractor from a single source, the company combines development, planning and execution. Greystar complements this local expertise with extensive global investment and management experience in the rental housing sector. The company manages more than 1.1 million apartments and student apartments, including over 70,000 units in eight European markets.
Demolition work is currently underway on the property, followed by building construction work. The Mix market and the Goldfischchen daycare center will remain open during the entire construction period.
