Focus report Aarhus - Colliers Denmark 2024

RESIDENTIAL - COLLIERS FOCUS REPORT AARHUS 2024

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Harmonious urban development in and around Aarhus

In recent years, Aarhus has been transforming to accommodate the strong inflow of new residents. As a result, new residential districts have emerged, but with respect of older districts so as to blend city, nature and history to form a harmonious whole. The following provides an overview of urban development trends.

Aarhus Ø In the district of Aarhus Ø, recent years have seen the completion of a string of prominent buildings, and this new urban district on the waterfront has become a pop ular city hotspot. Due to the attractive location, Aarhus Ø commands above-average residential rent levels and selling prices. The process concerning Pier 3, formerly Molslinjen’s ferry berth, is progressing. At the beginning of 2024, the City of Aarhus put out a tender for a development and co-oper ation agreement to find a commercial partner. In the first stage, the partner is to assist in the drafting of a develop ment and realisation plan for Pier 3. Subsequently, the partner is expected to join the City of Aarhus in an area development company heading the development of Pier 3 in the years ahead, with a focus on the strategic themes that the municipality has defined for Pier 3. Overall, the strategic themes must ensure that Pier 3 becomes an urban neighbourhood connected to the water and mar itime life, and that Aarhus Ø becomes a green district. At the same time, the area should be a prime example of sustainable urban development in Aarhus and accom modate the different types of housing needed to create diversity in the resident mix. Finally, it must be a healthy urban neighbourhood with room for movement, and the neighbourhood must be developed in an open process through close collaboration between future stakehold ers. Pier 3 covers an area of approx. 100,000 sq m and it is expected that up to 180,000 sq m space can be built, of which a minimum of 100,000 sq m will be residential.. Aarhus K / Aarhus C The area, which has been dubbed Aarhus K, is a neigh bourhood bordering on the city centre and stretch ing from before Godsbanen to Trianglen along Søren

Frichs Vej. It is expected to accommodate a total of 2,800 homes when fully developed. The area includes the new school of architecture, New AARCH, Godsbanehuset, Æggepakkeriet and Godsbanekollegiet (student hall). The development at Godsbanen has now transformed the area into a diverse and opportunity-rich space in cen tral Aarhus, but development is still ongoing. The area will also be the centre of Det Poetiske Kvarter neighbour hood (the Poetic Quarter), an initiative supported by the Nordea Foundation. The initiative will bring together the area’s many new neighbours with literature as a common denominator. Residential newbuilding at Trælasten is in full swing. The first phase of the development, Teglgården, has been completed and is successful in both letting and selling off owner-occupied apartments. However, there are still sev eral apartments for rent under the Virke concept, which are apartments earmarked for more mature tenants (50+ years). When Trælasten is completed, the composition of the area will be 59% rental housing, 21% owner-occupied housing (a total of 700 homes) and 20% commercial. The project will help densify the city centre. Between Godsbanen and Scandinavian Centre, an inves tor consortium has started the construction of ZigZag Huset after winning the project in a municipal tender back in 2018. ZigZag Huset will offer 126 residential units, two small cafés and six offices. The building will comprise seven towers, which will be staggered to form a common courtyard. The pension company consortium that owns Scandinavian Center has decided to breathe new life into the centre by building an extension and renovating the existing build -