Financial expert: New construction project in Essen - opportunities and risks - find out more now!

Financial expert: New construction project in Essen - opportunities and risks - find out more now!

According to a report by www.waz.de,

Essen: The motherhouse of the Franciscan Sisters in Essen has long been earmarked for a controversial new building project. As a result, there are now new plans for the construction project. The city of Essen has announced that it will redesign the development plan for the “Nppttusbàf0Mbbsnbootusbàf” property.

The construction project envisages that around 221 new residential units will be built between Nppttusbàf and Mbbsnbootusbàf, part of which is intended as social housing. The development plan for this project should be interpreted between November 9th and December 6th, 2020.

Although the construction project has been controversial for several years, the plans are now becoming more concrete. Among other things, there is a new citizens' initiative called “Save the Monastery Garden”, which is committed to preserving the monastery garden and taking action against the construction project. In the past there has been criticism of possible restrictions on the cityscape and concerns about the loss of historic buildings.

The city of Essen is also concerned with the issue of environmental protection and the preservation of green spaces. Another problem is the development of the new building area, as this could entail massive changes to the existing structure of the district. These developments not only affect the direct residents, but also investors who were thinking about the future performance of the properties.

The points mentioned make it clear that the controversial construction project in Essen can have a significant impact on the region's real estate market. In particular, the planned new development and the social discussions surrounding the project will have a strong influence on the property valuation as well as the profile of the district. In addition, the interests of residents and investors are also of great importance in this problem.