Cologne's Liebigquartier: Investors brakes investors!

Cologne's Liebigquartier: Investors brakes investors!

Ehrenfeld, Deutschland - In the heart of Cologne, planning for Liebigartier is in full swing. A colorful mix of residential quarters, commercial space and spacious green areas is to be created here. As early as 2022, the city administration undertook this long -term challenge with a spatial development concept (REK), which sets clear guidelines for the use of areas in the 130 hectare area between Inner Kanalstrasse, A 57, park belt and railway embankment. But that's not all: In order to support the settlement of forms of the creative industries, the city plans to secure a right of first refusal for land that is to be sold.

like the Kölner Stadt-Anzeiger District representative Ehrenfeld presented. The goal? The implementation of the REK goals by the targeted use of the right of first refusal in the interest of the general public. One example could be the former slaughterhouse area where commercial uses and socio -cultural facilities should go hand in hand.

right of first refusal as a strategic tool

The right of first refusal is considered the key to proactively active in urban development. According to IFH Cologne it enables municipalities, land or real estate primarily to buy and thus control development processes with the needs of the population. In other cities, such as Hanau, the right of first refusal was successfully used to revitalize downtown areas and reduce vacancies. It is clear that Cologne can also benefit from this option.

The legal requirements for the permission of the right of first refusal have already been passed by the Council - however, this instrument can only be applied after the conclusion of a purchase contract. For the city, this means that it only has to pay the market value and not the price specified in the contract. Important restrictions exist: The right of first refusal is not applicable to condominiums or heritable building rights and must always be exercised in the interests of the general public.

challenges at the federal level

Nonetheless, there are challenges at a higher level that affect the use of the right of first refusal. As the German City Day , the right of first refusal to the amendment to the amendment to the building code is not strengthened, which is particularly concerned in times of overheated real estate markets. So far, the Federal Government has not taken any measures to improve the legal framework that would enable more efficient use of the right of first refusal. This could be a problem for many cities that find that private interests are against the needs of the general public.

in the city and beyond, a good overview is required to actively address the challenges of urban development. This is the only way to achieve a harmonious and sustainable development in the Liebigquartier and beyond.