The municipal housing group ABG wants to complete around 4,900 new apartments by 2026.

In addition, the planning and construction of around 2,000 more apartments will begin during this period, the holding company announced on Tuesday.

Investments of more than two billion euros are planned, said Mayor Peter Feldmann (SPD), who chairs the ABG supervisory board.

"Since the move to Frankfurt continues unabated and the demand on the housing market is still very high, the ABG Group will drive its new building program at a high level."

Matthias Trautsch

Coordination of the Rhine-Main report.

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According to the information, 649 new apartments were completed in the 2020 financial year.

With this, the ABG contributed to the relief of the housing market, said Feldmann.

Four out of ten of these apartments are subsidized and are therefore affordable for tenants with low and middle incomes.

"According to the will of the new city government, the proportion of subsidized, social, cooperative and student living space will be increased with determination."

Higher profit than last year

ABG managing director Frank Junker praised the result of the past financial year. Although the total output as a result of the corona pandemic fell by 4.4 million euros to around 518 million euros compared to the previous year, there was a consolidated profit of almost 74 million euros. That is 5.1 million euros more than in the previous year. According to Junker, sales in the business with parking spaces and in the rental of event rooms in the hall buildings have fallen sharply; However, this was offset by income from first-time rentals of new buildings and by lower expenses.

According to Junkers, the major construction projects at ABG have made good progress. In the Platensiedlung, the first new buildings and two inner courtyards with play and fitness equipment have been completed after the rows of houses have been increased by two floors. Seven apartment buildings with a total of 227 passive house apartments were built in the Lyon quarter. With this, ABG built around 700 apartments in the former Niederrad office district and thus contributed to their conversion into a residential area. The 75 passive house apartments in the first construction phase of the outskirts in Nied along the Mainzer Landstrasse are also finished. Another 56 apartments with space for retail would be added.

The largest and most complex construction site of the ABG is currently at Güterplatz.

259 rental apartments, a two-story underground car park, a daycare center and a large supermarket are being built along Mainzer Landstrasse and Europaallee in a six-storey perimeter block development.

Private project developers are building a 128-meter-high hotel and office tower and a 98-meter-high residential tower in the immediate vicinity.

At the same time, construction work for the new Güterplatz underground station and the extension of the underground into the Europaviertel are ongoing.

The first ABG apartments on Güterplatz should be ready for occupancy in spring.