The real estate companies SIGNA Prime Selection AG and RFR Holding GmbH acquired the Opernplatz 2 property from Allianz Real Estate GmbH in a joint venture in 2019. Originally, the investors probably wanted to build a new eight-story building. In the meantime, SIGNA and RFR Holding have probably considered building a high-rise there. The two companies have submitted a request for a high-rise tower on the property at Opernplatz 2 to the planning department of the City of Frankfurt.

Head of Planning Mike Josef explained that the City of Frankfurt is currently examining whether a high-rise tower is possible at this prominent location. According to the city, a tall building with a height of perhaps 60 meters (197 feet) is basically conceivable if a detailed study does not come to a contrary result. The property at Opernplatz 2 is located in an area which, however, is to be investigated in the upcoming high-rise master plan.

When testing the compatibility for a high-rise building, numerous effects have to be examined, says Mike Josef. It is particularly about topics such as wind and shade, because Opernplatz and the Old Opera House (Alte Oper) should not be shaded. Therefore, the height of the project is particularly relevant.

In any case, the City of Frankfurt would like to give investors a prompt response to their request. This answer is expected to be worked out by the end of 2020.