International Campus Feeds Frankfurt’s Student-Housing-Hungry Market
- Feb 27, 2015
International Campus AG has received preliminary planning permission for the development of its second student housing facility in Frankfurt am Main.
Construction on “THE FIZZ Frankfurt II” building, which will bring approximately 390 apartments for undergraduate and postgraduate students, is scheduled to begin this summer and be complete in early 2017. Amenities will include underground parking and bicycle storage.
The upcoming project is part of the Sommerhoffpark residential complex in Frankfurt Gutleutviertel, on the north bank of the River Main, which currently comprises another student housing facility, as well as two apartment buildings, extensive green space and an integrated childcare facility.
General contractor OFB Projektentwicklung will manage construction, while International Campus will be both investor and operator for the new property.
“We are very pleased to be developing our second student residence in Frankfurt, this time in cooperation with OFB Projektentwicklung, and thereby fulfilling an urgent need for student housing. The Sommerhoffpark residential complex in Gutleutviertel is very appealing thanks to its direct proximity to the banks of the River Main, its publicly accessible green space and its pleasant architecture,” Horst Lieder, CEO of International Campus AG, said in a news release.
The “THE FIZZ Frankfurt II” student housing facility in Gutleutviertel will be the second property operated by International Campus in Frankfurt. Its first student accommodation project “THE FIZZ Frankfurt” in Gallus is currently under development and should open imminently.
Frankfurt am Main has more than 60,000 students enrolled in Goethe University, Frankfurt School of Finance and other institutions of higher education in the 2014/15 winter semester. Today, there are about 5,000 student rooms offered by non-profit and private operators, while Frankfurt´s public student union (Studentenwerk) currently offers apartments for only about 4 percent of all students.