Former Frankfurt Police Headquarters

Investor buys former police headquarters in Frankfurt

The former police headquarters at Friedrich Ebert Anlage in Frankfurt have changed hands. The Düsseldorf-based project developer, Gerch Group have bought the property in its prime location with existing buildings for 212.5 million euros. Previous buildings are all due to be demolished and about 800 million euros are being pumped into the new development of the property. The state government and City of Frankfurt fiercely fought over the project. Construction for the new development will begin in 2022, and the whole project is expected to be completed by 2026.

This information was announced by Hesse Finance Minister, Thomas Schäfer (CDU): “Frankfurt can be happy. Something is happening in a prominent place in the city.” he said. In years to come, a modern ensemble of flats, offices and a hotel could be built in the area between the main train station and the trade fair. The Minister of Finance said that a day care centre was also added, as well as a gymnasium for the Falkschule.

Thus, in the opinion of Minister of Finance, Schäfer, the requirements that the city of Frankfurt have set for future use of the site have been fulfilled. According to the minister, the sale proceeds will be reinvested by the state of Hesse into the Frankfurt area, especially in education and housing.

The former state-owned site covers more than 15,000 square meters. An architectural competition will determine which design will actually be chosen for construction here. The building permit allows a mixture of housing, office and hotel usage on the site, where a high-rise building to a maximum height of 145 meters (475 feet) can be built.

The former police headquarters are now dilapidated and have been vacant since 2002. In September 2017, the State of Hessen started the sales process, negotiating with several interested parties. Lord Mayor Peter Feldmann (SPD) accused the state (which owned the police headquarters site) of driving up the price of the terrain, similar to a “private speculator”, so that luxury apartments and expensive offices only were created there. The high price of the overall property to the Gerch Group would later cause buying prices for apartments to rise above 10,000 euros per square meter, leading to criticism of local politicians.

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