Case Studies  The Karolinenviertel Case in Hamburg - St. Pauli

Examples for mixed funding

The modernisation of apartment units in formally designated development areas presupposes always an own money share of 15 %. Furthermore, the owner has to raise a loan on the market, which is being financed by long-term achieved additional rental gain. The balance is being paid as lost building cost subsidy. The expected rental rise is being stipulated according to the binding period – in redevelopment areas 12-21 years. In addition, the owner receives as compensation a rental subsidy. With this Hamburg makes sure that the rents do not exceed a certain value.

For single shares no flat rates can be stated, they are subject to each case.

The reuse of the former slaughter-house has been financed by 80 % with bank credits and the development of the Harbour Hospital into the Health Centre St. Pauli even with 100%.

The future Music Centre will be financed with 25 % ERDF-means and 25 % of city means. The remaining 50 % will be financed with loans on the capital market.

4.4. Financing    4.6. Establishment and mainstreaming