Citizenship - Rostock plans to sell land for new theater building
At its meeting on Wednesday (from 4 p.m.), the Rostock city council wants to set the course for the sale of municipal properties and land to finance the construction of the new theater. There are 18 properties on the list of potential sites, including the former Best Western Hanse Hotel in Warnemünde and the freight village. The total proceeds for all properties are estimated at 120 million euros.
Initially, properties are to be sold for the equivalent of 34.5 million euros. This amount is part of the city's own contribution of 75 million euros to finance the new construction. Added to this are 51 million euros in subsidies from the state and a loan of 82 million euros.
In order to counter any cost increases and delays in marketing, the list of potential sales areas has been expanded to a volume of 120 million euros, according to the administration. The construction costs for the new theater currently amount to 208 million euros.
If the properties are sold, the city will refrain from granting a heritable building right, which means that the buyer will also become the owner of the property. In the event of a sale, a further resolution must be passed for each individual property.
Agenda of the citizens' assembly meeting 6.12.2023
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- The potential sale of properties in Rostock, including the former Best Western Hanse Hotel in Warnemünde, is part of the city's plan to finance the construction of a new theater, as discussed in the city council meeting.
- Interested buyers of these municipal properties in Mecklenburg-Vorpommern, such as the freight village, will not receive heritable building rights, ensuring that the city retains ownership of the land.
- Citizens of Rostock and Warnemünde may be impacted by the proposed theater construction and property sales, as the project's total estimated cost of 208 million euros requires the sale of properties worth 120 million euros to cover the city's contribution and secure subsidies and loans.
Source: www.stern.de
