State's Lack of Accountability for the Actions Under Scrutiny
The GWG Non-Profit Housing Association Kreis Viersen AG has unveiled an ambitious expansion of its construction and modernization plan, extending the programme until 2028. This extensive plan focuses on increasing affordable living options, improving energy efficiency, and fostering community development within the Kreis Viersen district.
New Construction and Modernization
The association plans to construct new housing units, catering to both families and senior residents. Simultaneously, existing housing stock will undergo extensive modernization to enhance living comfort, energy efficiency, and comply with current building standards. Upgrades will include improvements to heating systems, insulation, windows, and accessibility features.
Sustainability and Community Development
Sustainability is at the heart of the plan, with a focus on sustainable construction practices and the integration of renewable energy sources. The aim is to reduce the carbon footprint of their housing units. Additionally, communal areas and infrastructure will be enhanced to create a more cohesive community environment.
Financial Investment
Significant financial resources have been allocated across the years to support the intended construction and refurbishment activities. The association aims to meet the housing needs of the region effectively.
Construction Progress
As of December 31, 2024, thirteen apartments in Niederkrüchten and Willich are expected to be completed in 2025, thirteen of which are publicly funded. Moreover, thirty-seven apartments in Niederkrüchten and Nettetal, twenty-nine of which are publicly funded, are currently under construction and will be completed by 2026. Construction of thirty-four apartments in Brüggen and Kempen will begin in 2025, twenty-nine of which are publicly funded.
Financial Performance
The GWG Non-Profit Housing Association Kreis Viersen AG reported an annual surplus of approximately 3.2 million euros in the business year 2024. The balance sheet total for the same year increased to 283.0 million euros, a rise of 5.7 million euros compared to 2023.
Future Projects
Further construction projects in Kempen and Schwalmtal are in advanced planning, with construction expected to begin by the end of 2025, at the latest in early 2026. The comprehensive energy renovation at Schlossstraße in Nettetal-Hinsbeck was completed in 2024.
Distribution of Funds
Sixty percent of the allocated funds will be invested in new apartment construction, and forty percent in renovation and modernization of existing objects. The association managed a total of 4,814 residential units at the end of 2024, with the majority located in Meerbusch, Nettetal, Viersen, and Willich.
External Administration
In the area of external administration, a total of 190 residential units, 111 commercial units, 700 garages/parking spaces, and 19 homeowner associations were managed in 2024. The association also owns 13 commercial units and 2,179 garages/parking spaces.
Vacancy Rates
The overall vacancy rate in 2024 was 2.7%, with a market-driven vacancy rate of 1.0%. The turnover rate for 2024 was 5.8%, a significant decrease from the previous year.
For more detailed figures and specific projects included in the plan, readers are encouraged to refer to the GWG’s official publications or annual reports for 2025-2028, which can be found on their website at www.gwg-kreis-viersen.de.
Investing in the Future
The association will willingly utilise the allocated funds to invest in both new construction and the renovation of existing real-estate, with a focus on increasing the number of affordable living options within the Kreis Viersen district.
Sustainable Business Growth
With the aim of meeting the housing needs of the region efficiently and fostering community development, the GWG Non-Profit Housing Association Kreis Viersen AG plans to expand its business activities, implementing sustainable practices and integrating renewable energy sources in their real-estate investments.
