Korneuburg's building restriction lifts, signifying the end of the Benko project!
The development project for the historical halls 55 and 58, known as the "Werftmitte" project, has been put on hold in the Austrian city of Korneuburg. The city, unable to shoulder the costs of the project alone, finds itself in a predicament that has halted the renovation efforts.
This project, initially a joint venture between SIGNA and the city of Korneuburg, aimed to create high-quality living spaces for 1,400 to 1,700 people. However, it appears that the "Werftmitte" project does not fall under the 15-hectare area planned for an "attractive quarter for living, working, culture, leisure, hotel, and gastronomy."
The former shipyard site, significant to the regional economy and shipbuilding industry for over 140 years, has been stopped, and a construction ban has been imposed. This ban, unanimously decided by the city council, marks the official end of the mega-project.
The Hafen Korneuburg Immobilien GmbH & Co KG, a SIGNA subsidiary, is not yet insolvent, but the mayor expects an imminent sale of the areas due to SIGNA's urgent need for money. The total investment volume for the "Werftmitte" project remains undisclosed.
It's worth noting that the documents for the environmental compatibility test (UVP) have been withdrawn, suggesting potential environmental concerns might have played a role in the project's halt. However, without specific data or recent news, the exact reason for the development project's stoppage remains unclear.
The city acquired and renovated parts of the heavily contaminated area at the end of the 90s. The project planned to convert the historical buildings into a modern event location with a foyer, bar, cloakrooms, and sanitary facilities.
For those seeking precise, up-to-date information about this case, it's recommended to consult local news sources, municipal planning documents, or official statements from the Korneuburg city authorities.
The halt in the "Werftmitte" project, originally a joint venture between SIGNA and Korneuburg, suggests uncertainty in the real-estate industry, as the total investment volume remains undisclosed. Despite Hafen Korneuburg Immobilien GmbH & Co KG not being insolvent yet, the mayor anticipates selling the areas due to SIGNA's financial needs in the finance sector, potentially affecting investing opportunities.
