Wallenstam Begins Development of Kallebäcks Terrasser in Gothenburg

Work is now starting on the development of Kallebäcks Terrasser in Gothenburg. The old Arla factory in Kallebäck is being demolished and will make way for up to about 2,000 apartments in different forms of tenure. Apart from apartments in a mixed urban environment with businesses on the ground floors, there are also plans for 20,000 sq m. of business premises and two nursery schools. Kallebäcks Terrasser is a part of Gothenburg’s Jubilee initiative and about 800 of the 2,000 apartments in the area will be ready for the city’s 400th anniversary celebrations in 2021.

“When the demolition work begins it will represent the start of the development of Kallebäcks Terrasser in Gothenburg with proximity to both Delsjön nature reserve and the city. We are planning a creative, active area with pleasant meeting places, apartments, offices and feel-good places that will provide a natural quality of life and generate lively interaction between the buildings,” says Thomas Dahl, Deputy CEO of Wallenstam.

Kallebäcks Terrasser gets its name from the differences in altitude and natural terraces provided by the buildings and nature itself. Here the hill, nature, children and cyclists will be at the centre of the development. In the parallel commissions that were completed, Nyréns Archtitect’s Office presented the winning proposal for a structure plan for the area.

“Intensive zoning plan work is now ongoing for the area. We hope to start building as soon as possible and be underway with production in late 2017. It’s a large area, which we will develop in phases. The goal is that about 800 apartments in the area will be ready by 2021,” says Dahl.

Wallenstam acquired the property during autumn 2013 and in late 2014 Arla Foods discontinued production at the site. Since then, a number of studies have taken place to enable the implementation of the project. The demolition work will start shortly and is expected to continue during all of 2016.

Wallenstam AB (publ) is required to make this information public under the provisions of the Swedish Financial Markets Act and the Swedish Financial Instruments Trading Act. The information was made publicly available on 22 February 2016 at 08.00 CET.

Wallenstam is a growing property company that manages, builds and develops properties for sustainable living and enterprise in Gothenburg and Stockholm. The property holding is valued at around SEK 30 billion and the customer base consists of just over 7,400 households and 1,000 enterprises. The total lettable area is around 1 million sq m. Wallenstam is self-sufficient in renewable energy through the company Svensk NaturEnergi. The company’s B shares have been listed on Nasdaq Stockholm since 1984.

This information was brought to you by Cision http://news.cision.com

Source: https://www.wallenstam.se/

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