200 affordable rental apartments in HafenCity: Quantum acquires socially sustainable JAZZ district

Hamburg, 24/06/2022 | In HafenCity, Hamburg-based real estate company Quantum has acquired the JAZZ district development—for a club of professional pension funds from Berlin. The seller is PATRIZIA AG. The company has developed the project so far and will remain involved until completion. The parties have agreed not to disclose the purchase price.

In this diverse district in Baakenhafen, Quantum will deliver, by the end of 2024, 206 publicly subsidized and price-reduced rental apartments. In addition, there will be around 3,800 m² of space for offices, restaurants, and shops.

92 apartments with high-quality features will be built as publicly subsidized rental units. The 114 privately financed JAZZ rental apartments will mostly be voluntarily offered at reduced rents.

Berghoff: “We want to contribute to social diversity”

“With affordable rents and apartment sizes ranging from 2 to 6 rooms, JAZZ is intended to appeal to people and especially families of different ages and income groups. We want to contribute to a diverse social mix in HafenCity,” says Martin Berghoff, Managing Director of Quantum.

The seven buildings, each with 5–7 floors, are arranged in a courtyard layout. Each of the three landscaped inner courtyards will feature large communal spaces and playgrounds for children.

Smart mobility: A district of short distances

JAZZ not only emphasizes a socially diverse housing mix, but also meets the highest standards of ecological sustainability. Electricity for the district is generated on the green flat roofs using an in-house photovoltaic system. The apartments are heated via district heating. JAZZ is being built as a KfW 55 efficiency house and carries the HafenCity environmental label in platinum.

The district is also part of the Smart Mobility concept of eastern HafenCity. The short distances to shopping, school, or playground make owning a car unnecessary. The concept provides for a reduced parking ratio of max. 0.4 per apartment. Bicycle infrastructure, e-mobility, and car sharing are actively promoted. Specifically, the in-house underground garage has 80 car spaces and 10 car-sharing spaces, while JAZZ offers nearly 600 bicycle parking spaces.

The transaction was brokered by CBRE Germany. The general contractor is northern German construction company Richard Ditting GmbH & Co. KG.