7 July 2020
ARCADIA acquires development plots for residential project in Krostitz
The property developer ARCADIA Investment Group has acquired two development plots with a total area of approximately 4,688 square metres through an associated company in the Saxon municipality of Krostitz, northeast of Leipzig. On the site of a former farm, the Leipzig-based company intends to build the “Eulenhof” residential project, consisting of ten terraced houses and four semi-detached houses. The first preparatory work on the site has already begun. Construction is currently expected to start in autumn 2020.
“With the building project in Krostitz, we want to meet the increasing demand for apartments and houses in Leipzig and the Leipzig area”, explains Alexander Folz, managing partner of ARCADIA. “We expect particularly high demand from young families looking for a home in the countryside. Krostitz offers rural charm and lots of nature but is nevertheless very well connected to the city of Leipzig”.
Each of the turnkey houses will offer up to five rooms on approximately 125 square metres of living space. A built-in kitchen, a garden area with a terrace and optionally two parking spaces per house form the basic offer. The terraced and semi-detached houses are characterised by their good energy balance according to the KfW-55 standard. An air heat pump and a photovoltaic system per house ensure an almost energy self-sufficient supply. According to current discussions with the German Sustainable Building Council (DGNB), ARCADIA expects that the houses will receive the highest award after completion of the certification process.
The municipality of Krostitz has about 4,000 inhabitants and is located about 30 minutes by car from the Leipzig city centre. The State Statistical Office of Saxony predicts a population increase of between 10.9 and 15.9 percent for the city of Leipzig by 2035. Particularly the surrounding communities and small towns benefit from the growth of the Leipzig Metropolitan Region and from an increased demand for building plots.