Die Trei Real Estate GmbH (“Trei”), an international developer and asset manager, has obtained the building permit for a student housing development on Dotzheimer Strasse in Wiesbaden. In the future, Trei will operate the apartments under its Quartillion brand. A total of 182 modern single-occupancy apartments will be created for students here, adding up to a residential floor area of about 3,900 sqm. In addition, a new Netto food market with a retail area of about 1,100 sqm will occupy the ground floor. The investment volume totals c. 33 million euros. Construction work is scheduled to start in Q1 2024.
The street, Dotzheimer Strasse, borrows its name from its home district of Dotzheim in Wiesbaden. The campus of the RheinMain University of Applied Sciences lies within walking distance. The apartments at the Quartillion Wiesbaden will be fully furnished and equipped with a fitted kitchenette, and will each have its own bathroom. Among the many amenities to be included in the all-inclusive rent rate will be broadband internet access. Unit sizes will range from 17 to 33 sqm. Shared facilities open to the occupants will include a common area on the first floor, a study lab, a laundry room equipped with washers and driers, and a rooftop patio.
Pepijn Morshuis, the CEO of Trei Real Estate, commented: “The shortage in affordable housing is particularly keenly felt in the student community. Wiesbaden, the State Capital of Hesse, is an attractive city, including for families and single working professionals, but all groups compete for a limited housing supply. By creating new Quartillion apartments here, we boost the urgently needed supply for a specific segment within the city’s severely strained housing market.”
The Quartillion in Wiesbaden represents the second student hall of residence developed by Trei, the first iteration of the Quartillion brand having been completed in Cologne in 2017. On top of that, Trei currently has around 1,400 rental apartments under development in Germany, with the focus on multi-family homes. The projects are located in Berlin, Hamburg, Munich, Düsseldorf and Mainz.