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Dismantling problematic properties in Hagen: The last part of Wehringhauser Straße will be demolished
According to a report from www.wp.de, it is about the demolition work on the problem properties at Wehringhauser Straße 89 to 93 as part of the “Problem Real Estate Model Project”. The measure is expected to be completed by the end of the year. The properties consisted of multi-family residential buildings that had a complete basement and are now to be converted for commercial use. So far, nine problem properties have already been demolished with the aim of increasing commercial use in polluted locations. The effects of these measures can be diverse. On the one hand, the conversion from residential to commercial real estate will result in a change in the local real estate market. This could lead to new investment opportunities and an upgrading of the location...
Dismantling problematic properties in Hagen: The last part of Wehringhauser Straße will be demolished
According to a report by www.wp.de, it is about the demolition work on the problem properties at Wehringhauser Straße 89 to 93 as part of the “Problem Real Estate Model Project”. The measure is expected to be completed by the end of the year. The properties consisted of multi-family residential buildings that had a complete basement and are now to be converted for commercial use. So far, nine problem properties have already been demolished with the aim of increasing commercial use in polluted locations.
The effects of these measures can be diverse. On the one hand, the conversion from residential to commercial real estate will result in a change in the local real estate market. This could lead to new investment opportunities and an upgrading of the location. On the other hand, new opportunities for commercial use could arise for investors and companies, as the city of Hagen is investing in strengthening commercial use and offering affordable subsidies. The demolition and redesign of problem properties could therefore help to increase the attractiveness and economic viability of the location.
In addition, it is important to note that the support of government institutions has an impact on the real estate market. The grants from state and federal funds for the acquisition, demolition and renovation of the properties at a funding rate of 95 percent could stimulate interest from investors and developers in similar projects in other cities and regions. This in turn could lead to increased renovation and conversion of problem properties in other affected areas.
Overall, these developments suggest that the redevelopment and dismantling of problem properties in Hagen not only contribute to improving the city's infrastructure, but can also potentially have positive effects on the real estate market and commercial use in the region.
Read the source article at www.wp.de