Aalborg__Locations_Online_MR19

Copenhagen Property Market Report 2019

5

Residential development areas

Aalborg has five major residential development areas:

Østre Havn Østre Havn is an old harbour district currently undergoing a transition turning it into a mixed-use commercial and residential district situated to the right of the city centre. The district provides a smooth transition from the cultural centre with Nordkraft, Musikkens Hus and the long-established residential areas of the city centre towards the commercial area of Gasværksvej. Demolition and reconstruction started in 2012, and the area is approximately 80% completed now. Once fully developed, expectedly around 2023, the district will house 165,000 sqm floor space, with commercial use accounting for 20%, residential 70% and cultural facilities, retail and grocery stores for the residual 10%. This new neighbourhood has a mix of residents: There are many owner-occupied flats commanding some of the highest prices per sqm in all of Aalborg, but also youth housing for some of the students at Aalborg University. Godsbanearealet Godsbanearealet (the old freight terminal area) is situated right next to the main train and bus station in Aalborg and the Kennedy Shopping Centre. Godsbanearealet started its urban renewal scheme back in 2010 and is almost fully developed, and construction is expected to be completed within a couple of years. The residential mix is dominated by young students living in rented flats. The area also has some owner-occupied flats, but the primary residential building stock reflects the presence of educational institutions in the area with a large dormitory for both domestic and international students. In terms of commercial use, the main residents are three different educational institutions (SOSU Nord, VUC & HF Nordjylland and Aalborg City Gymnasium). When fully developed the area will have approximately 138,000 sqm of floor space (115,000 sqm excluding car parks), with commercial development accounting for 30%, residential development accounting for 60% and retail, convenience stores and cultural facilities accounting for the remaining 10%. Sofiendal Enge Sofiendal Enge is a new development area situated southwest of Aalborg in extension of the exclusive Hasseris neighbourhood and close to the secondary centre City Syd. The area is located near existing schools and is designated for detached residential and terraced housing.