Day-care centre, assisted living communities, senior living and day care under one roof
Munich/Essen – commonreal is developing an intergenerational project on Michaelstraße in the south-east district of Essen. On a plot of around 3,950 square metres, some 5,800 square metres of usable floor space are being created, comprising a day-care centre for up to 115 children, assisted living communities for 48 residents, 41 service apartments and a day-care facility for the elderly. The project is currently in detailed design. Completion is scheduled for 2028.
With this project, commonreal is responding to the growing demand for social infrastructure and combining different uses at a single location. The aim is to link education, housing and care in a way that creates synergies both for the people who use them and for the surrounding neighbourhood.
“Demand for high-quality social real estate is growing continuously. With our investment on Michaelstraße we are creating an offering that takes different stages of life into account and makes a lasting contribution to the development of the neighbourhood,” says commonreal Managing Director Oğuz Kuşdil.
For commonreal, the focus is on developing sustainable social real estate. The company concentrates on projects in the fields of childcare, senior living and social infrastructure throughout Germany, with an emphasis on buildings that remain usable in the long term and combine social need with economic viability.
“Social real estate is establishing itself as a crisis-resistant, demographically driven asset class. At the same time, the responsibility to deliver projects that create lasting value for municipalities and their residents is growing. Michaelstraße is where we pursue that ambition consistently,” Kuşdil adds.
Project data
- Location: Michaelstraße 54, 45138 Essen
- Plot size: approx. 3,950 sqm
- Usable floor space: approx. 5,800 sqm
- Uses: Six-group day-care centre, four assisted living communities, 41 service apartments, day care
- Project status: Detailed design
- Scheduled completion: 2028
