The Austrian Post AG, on whose 35,000 square meter site at Linz main station the Post City Gardens, a quasi new district with apartments, offices and shops as well as green spaces, is to be built, will initially drive this project forward itself.
Because the search for investors had failed, Post spokesman Markus Leitgeb confirmed a report in the “Oberösterreichische Nachrichten” on Tuesday.
There was a lot of interest, but the current situation on the real estate market is difficult, Leitgeb explains the reasons in the APA interview. Now we will “drive the project forward ourselves and see how the real estate market develops and whether a new market survey will be carried out.” In the plans with eleven high-rise buildings presented for the first time in 2019 – Nussmüller Architekten ZT GmbH won the architecture competition – the detailed planning had arrived. “We can imagine selling individual components or opening them up for investment,” Leitgeb announced.
The next step is demolition work, which could not begin until 2025 at the earliest. In 2019, the aim was to complete the first phase of the construction project next year. The buildings of the former postal distribution center are currently empty – apart from useful temporary uses such as for the Ars Electronica Festival, which could take place there again in 2024, or as refugee accommodation.
The approach is being taken in close coordination with Asfinag, which is driving the A26 project nearby – also known as the Westring – and the city of Linz, says Leitgeb. According to the newspaper article, Planning City Councilor Dietmar Prammer (SPÖ) is not worried about the delay in the Post City Gardens.
The Post share rose by 0.15 percent in Vienna and closed at 32.70 euros.
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