HafenCity or HafenVillage? It´s still not clear if "one of the largest urban development project of europe" will succeed or fail. Untill now the city of Hamburg has been investing: First to resettle various firms and companies those have been located in the freetrade harbour, second because the costs to prepare this former industrial area for constructions are high. The soil is quite unstable, special pile dwellings are needed and it is necessary to protect all buildings against the danger of flooding.
Smaller investors or cooperative building associations hardly can afford to build. Therefore most of the few actual projects are initiated by international companies, investment groups, banks or exclusive local real-estate investors. The financing of the container terminal in Altenwerder meanwhile has been declared obsolete. New communal investments for infrastructure of the City of Hamburg are necessary to drive the slow development process of the HafenCity.
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Models of offices and flats at Am Sandtorkai
Residential blocks and office buildings for exclusive clients, shall be build at Am Sandtorkai. In August 2001, the area has been handed over to the investors, but not any of the projects has been realized yet.
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An interesting project !
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