By now, a large part of the mammoth project attached to the end of Gasperich is reality and a functioning neighbourhood, but work continues on the 80 hectare-wide site.
The next phase of works will emphasise creating housing, according to the Cloche d'Or developers. They came together on Tuesday to provide an update to the press, fittingly held on the 13th floor of the Zenith tower in the development.
The project has been in the works for 25 years now. The heads of firms Promobe and Grossfeld admitted the route had been long and with many obstacles, but they were proud at the work that had been carried out thus far.
The views from the Zenith tower look over the neighbourhood, which is a thriving residential and business area, including a large shopping centre.
Whilst working on the development, the developers realised they had to create more housing options than initially planned.
So far, with the existing 160,000 square metres, the developers are at 27% of planned housing, Grossfeld's Michel Knepper revealed. He added that there is flexibility for the future, as the area is classified as a mixed zone.
"We can build housing, we can build retail units, and we can build offices. Our ambition is to create an animated city neighbourhood," he added. Thus far, the developers have invested €40 million in the project and its infrastructure.
As elsewhere, living in the Cloche d'Or area is not cheap. Average costs are €8,900 per square metre, according to Promobe's Flavio Becca. He defended developers from general criticism, adding that they too put thought into the evolution of the housing market: "We tend to work on issues faster than the government and municipal authorities, who are not able to keep up with permits. They have hinted at simplifying administrative procedures for 15 years, but not much has been done to date."
Added to the issue is a lack of craftsmen, which causes major increases in construction costs. In the last ten years, prices have risen from €1,000 to €1,700 per square metre, which covers construction costs alone.
Construction continues on the other side of Boulevard Raiffeisen, with buildings destined to house state actors, such as a part of the Ministry of Health. There is not much parking available in the area, but the tram will connect the neighbourhood to the city centre and Kirchberg by 2023.
By the completion of the project, some 25,000 people should work in the area and 6,000 should live there.
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