Topping-out Ceremony for YOUNIQ AG in Karlsruhe

Six months after construction work started and three months after the commencement of the carcass construction, YOUNIQ AG celebrated the topping-out ceremony of its first YOUNIQ property in Karlsruhe. On an 8,500 sqm plot at the corner of Degenfeldstrasse/ Gottesauer Strasse in the city’s Oststadt district, 337 student apartments are under construction that will enable students to live within their own walls and at the same time to be an integral part of the student community. The 171 apartments of the first and second construction stage will be completed in time for the 2010/2011 winter semester, while stages three and four with another 166 apartments are slated for completion by the 2011 summer semester. The construction work has been assigned to a number of contractors in the Karlsruhe region.

“With YOUNIQ Karlsruhe, we are closing a gap in the urban development just 500 metres from the campus of Karlsruhe University, infusing the Oststadt district with new life. Because in this place, which used to be home to a district jail and later a car dealership complete with shop and petrol station, we are creating student housing on about 9,000 square metres, housing that the city of Karlsruhe urgently needs,” said Rudolf J. Bartsch, Member of the Board of YOUNIQ AG.

A total of six buildings are being raised in four construction stages according to the blueprints of architects Veit Ruser & Partner, who won the architectural competition held in 2007. The redevelopment of the existing six-storey building on Gottesauerstrasse and the new seven-storey building on Degenfeldstrasse helped to close a conspicuous gap in the local perimeter block development. Annexed to these buildings will be another four new corner buildings of three storeys each and developed attics. These will be arranged in such a way as to form sheltered inner courtyards where student life can unfold. The complex will be supplemented by an underground car park of 184 slots, accessed from Gottesauer Strasse. The studio apartments measure 25 square metres on average, and can be rented for an all-in rent of 390 Euros per month. The all-in rent includes all service charges, electric power, cable TV, and a high-speed Internet connection. All apartments are fitted out with high-end furnishings. In addition, students have free use of learning lounges as well as a TV lounge and a laundry lounge as common facilities.

“Karlsruhe has a population of about 300,000, with about 37,900 students enrolled at eight institutions of higher learning. The city’s size and the number of students and of people looking for housing tend to make it impossible for every student to find suitable quarters close to campus. YOUNIQ AG has become aware of the bottleneck, and makes a considerable contribution to the relaxation of the student housing market by raising these apartments on Degenfeldstrasse and Gottesauer Strasse,” commented the guest of honour and key note speaker Michael Obert, Mayor of the City of Karlsruhe. Most of all he welcomed the idea that the 337 student apartments are raised exclusively through the commitment of a private business. At the moment, the student union in Karlsruhe estimates that the shortage in student housing amounts to about 1000 apartments, not least because one of the positive side effects of the excellence drive of the regional universities is an increase in student enrolment.

“For every 100 students, there are just 19 apartments of less than 40 square metres. Hence, students in Karlsruhe are anxiously awaiting the altogether 337 YOUNIQ apartments. We have initial reservations even now,” elaborated Rudolf J. Bartsch, Member of the Board of YOUNIQ AG. “This goes to show how badly Karlsruhe as well as other campus towns in Germany needs a solution that addresses the shortage in student housing. This is exactly where YOUNIQ comes in.” YOUNIQ properties represent conceptual real estate that is tailored to the housing needs of students on the basis of in-depth field research that was undertaken in collaboration with the FORSA market research institute. YOUNIQ apartments have an average size of 22 square metres, high-end furnishings, and their own kitchen and bathroom. In addition, students have the choice of a wide variety of spare time activities as well as discounts on products and services through the “YOUNIC-Welt” program. The program’s spectrum extends from lower gym membership rates, to hosted student parties, all the way to degree- and career-planning services. Last year, YOUNIQ AG already completed and fully let similar concept properties in Erlangen, Greifswald, and Leipzig. Additional units are under construction in Munich, among other towns.