Residential construction - State-owned housing association invests in new construction
The Nassauische Heimstadt state-owned housing corporation is reportedly set to complete around 700 new housing units this year, according to their own statements. Looking ahead to the coming years, Monika Fontaine-Kretschmer, the technical managing director, stated at a press conference in Wiesbaden on Monday that there are expected to be numbers exceeding 500 units per year, with some years reaching up to 1000 completions. However, she noted that the funding for this will be exhausted by 2028, so one must look beyond that time to see what is in store.
Last year marked the first time that the number of housing units in their inventory surpassed 60,000, with 550 new units added, according to Fontaine-Kretschmer in her annual report for 2023. Kaweh Mansoori, the supervisory board chairman and Hessian Minister for Economics and Energy (SPD), stated that the Nassauische Heimstadt/Wohnstadt (NHW) group is one of the most affordable providers of housing space in the state, with an average gross cold rent of €6.66 per square meter. Even in regions with high demand and correspondingly tight markets, they are significantly below the market average rent.
The NHW reportedly offers rental housing at 113 locations in Hessen. Around 30% of these are subsidized housing.
- The residential construction division of Nassauische Heimstadt is currently working on a new building in Frankfurt, expanding their offerings in one of Hesse's largest cities.
- In Darmstadt, a housing association affiliated with Nassauische Heimstadt is planning to convert an old office building into energy-efficient living spaces, promoting sustainable residential construction.
- Monika Fontaine-Kretschmer, technical managing director of Nassauische Heimstadt, mentioned during her visit to Hesse's capital, Wiesbaden, that the corporation aims to meet the growing demand for housing by completing more than 500 new units each year.
- Despite the projected exhaustion of funding by 2028, there are plans to continue residential construction efforts in Hesse after that period, ensuring a steady supply of affordable housing for the community.
