ERFURT_ Another milestone has now been reached in the Erfurt residential area Ringelberg: In the presence of Thuringia's Minister of Economic Affairs Wolfgang Tiefensee, Thuringia's Minister of Infrastructure Susanna Karawanskij, LEG Managing Director Sabine Wosche and Erfurt's Mayor Andreas Bausewein, the topping-out ceremony for three new residential buildings with a total of 53 residential units took place today, Wednesday, September 22, 2021. Completion is scheduled for summer 2022. Around 4,000 square meters of living space will be created, as well as around 2,000 square meters of underground parking with 60 parking spaces.
This privately financed housing construction project is part of an overall scheme in which LEG is creating a total of 78 residential units in the 6th construction phase of Ringelberg. The remaining 25 future apartments with occupancy and rent controls are located in a building scheduled for completion in autumn 2021. For these 25 subsidized residential units, an ISSP construction loan of €3,644,100, a construction cost subsidy of €841,000, and a repayment subsidy of €911,000 were approved.
The 78 apartments range in size from 44 to 89 square meters, all have a sunny south-facing balcony, offer barrier-free access, and some are wheelchair accessible. In total, LEG is investing around 18.5 million euros in this construction project. This includes 267,000 euros for the construction of a neighboring playground and a green space, which LEG inaugurated in July of this year. LEG awarded all services to regional companies as a result of a public tendering process.
Background Erfurt-Ringelberg
With the construction of a total of four apartment buildings, LEG is implementing its final project in the overall Ringelberg development. Over the past quarter of a century, it developed six residential sections here; it created living space itself, but also developed plots of land that it sold for development – to investors for multi-story housing construction as well as to families for individual home building. The neighborhood is characterized by a very good social mix; rental apartments, condominiums, single-family and two-family homes, as well as subsidized housing were created here. On the Ringelberg, LEG manages – not counting the 78 residential units currently under construction – 260 apartments that it holds in its own portfolio. Meanwhile, 4,200 residents of Erfurt live in Thuringia's largest residential development area, covering 120 hectares. Given the growth of the state capital and the high demand for housing – in recent years as well as currently – the housing supply created and still being developed on the Ringelberg makes an important contribution to enabling people to live and work in Erfurt.
