Wiesbaden Palace Hotel's Future: Introducing the Alternative Strategy (Plan B)
The Palasthotel, a prominent landmark in Wiesbaden, is still slated for renovation, but the specifics of the project, including the investor and the renovation method, remain undecided.
Currently, the city owns the Palasthotel, and it has been temporarily housing refugee families. However, the city council, in light of its current financial situation, is hesitant about this arrangement. The CDU and FDP factions have expressed their disapproval, arguing that the city should not be using the hotel for such purposes.
In an attempt to find a compromise, the city has decided not to sell the Palasthotel but to develop it under a hereditary lease. The city-owned housing company, GeWeGe, aims to transform the Palasthotel into senior apartments and "business apartments" upon renovation.
The city council discussed the Palasthotel renovation once again on Monday, 15 September. GeWeGeSuche, the city's agency responsible for the investor search, is currently sounding out the market to find a suitable investor for the project. However, no specific investor has been identified yet.
If no investor is found, the city will take over the development, which would require an increase in GeWeGe's equity capital by ten million euros for self-led development. The renovation is estimated to cost 40 million euros.
The uncertainty surrounding the Palasthotel renovation has been a topic of debate among the involved factions. Some see it as a necessary step for the city's development, while others question the financial feasibility given the city's current financial situation. The solution for the Palasthotel renovation has been postponed until after the local election in March 2026.
The renovation of the Palasthotel, located by the Wiesbaden Kochbrunnen, is a significant project for the city. Once completed, it will bring new life to a historic building and contribute to the city's housing needs. The city council's decision on the investor and the renovation method will be closely watched as the project progresses.
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