Student accommodation in the KWU building

In recent years, many stakeholders have attempted to develop the former Kraftwerk Union (KWU) high-rise buildings on the Kaiserlei between Offenbach and Frankfurt in a sensible way. The Becken Group currently has a right of first refusal for the development of the entire site, which comprises far more than just the high-rise buildings. However, this right of first refusal expires on June 30. The project has recently attracted public interest due to the fact that Becken has developed the concept of creating around 1,500 student residences in the high-rise buildings in serial construction. However, due to the still very difficult situation in the construction and housing sector, there are still unanswered questions to be clarified by the end of June.

The parties involved in the student housing sub-project, namely the Studierendenwerk Frankfurt am Main, the State of Hesse, the City of Frankfurt and the City of Offenbach, have now all met again with the owner of the entire site, the Adler Group, due to the expiry of this deadline. The Becken Group, which is still interested in the overall development, was also present. They took stock of the progress made since the last meeting.

Based on the results of the meeting, the Adler Group and the Becken Group have extended the Becken Group's right of first refusal for the entire site until December 31, 2024. The Adler Group emphasizes: "As we want to continue to have confidence in the realization of student housing at Kaiserlei, we have decided to extend the deadline by a further and extensive period. We hope that this period is now sufficient and that the project can continue to be planned and realized in the near future."

Deputy Prime Minister Kaweh Mansoori emphasizes: "The state has used the last few months to clarify important issues within its scope of action. The last remaining questions regarding the condition of the building fabric will be clarified in the coming weeks. We will then have completed our tasks and be ready to create affordable living space for students and trainees. It is now up to the investors to make concrete use of the increasingly clear framework. In the end, the project can only work if everyone involved plays their part. As far as it is in our hands, we want to push ahead with the swift realization of the project. This can become an example for housing construction."

Offenbach's Lord Mayor Dr. Felix Schwenke is grateful to the partners for the progress: "After a phase of talks of a more preliminary nature, the parties involved began to deal very comprehensively with all the details in late autumn 2023. There are now solutions, or at least ideas for solutions, not yet for all, but for the majority of the sometimes complicated or expensive points that have emerged over time. I am particularly grateful to the City of Frankfurt and the State of Hesse for using the last six months to make important contributions. In the end, the project can only work if everyone involved makes their contribution - at least that's how things are going at the moment. That is positive."

"Students at universities in the greater Frankfurt am Main area urgently need more affordable accommodation based on the BAföG requirement rate of EUR 380 per month warm. In view of the 3,000 to 4,000 students regularly on our waiting list, student housing at Kaiserlei with around 1,500 places represents a huge leap forward," said Ulrich Schielein, Vice President and CIO of Goethe University and Chairman of the Administrative Board, and Konrad Zündorf, Managing Director of Studierendenwerk Frankfurt am Main, in unison. "We would like to thank the state of Hesse, the cities of Frankfurt am Main and Offenbach am Main as well as all those involved in the project for their tireless efforts in the complex framework conditions for this goal, which will also provide crucial support for the local universities, which are committed to attracting the brightest minds," the two emphasized.