6B47 Real Estate Investors are counting on PROPSTER with two new projects. Within the scope of the assignment we start with the first project in Paragonstrasse 2 in 1030 Vienna. In this building project, 6B47 is reserved for the in-house development or in-house utilisation of around 11,000 m² of living space including plinth zone area.
The land acquired by 6B47 was converted into a residential area in cooperation with the Österreichisches Siedlungswerk (ÖSW), ARWAG and MIGRA. In accordance with the option agreement, the property was divided into building plots, divided in real terms and sold to the option holders accordingly.
6B47, the right to develop or sell approx. 31%, i.e. approx. 11,000 sqm of residential space including basement zone area, is reserved. These developments are to be implemented on one site exclusively (site 5) and on another site (site 4) together with ÖSW.
The application for a building permit was submitted to the building authorities at the beginning of August 2016. The legally binding building permit was issued in Q1 2018. Construction started on March 19, 2018 and the groundbreaking ceremony took place on April 23, 2018.
The successful completion of the project is scheduled for Q4 2019. Further details about the project can be found HERE.