Vastint and Hines to deliver major residential neighbourhood in Düsseldorf-Gerresheim

Vastint and Hines have acquired the Glasmacherviertel in Düsseldorf‑Gerresheim through a newly formed joint venture, with plans to transform the approximately 193,000 sq m site into a major new residential neighbourhood. 

Source: Glasmacher S.à.r.l.

Current plans envisage 1,600 to 1,800 homes, supported by local retail, dining and social infrastructure, reflecting both partners’ long‑term conviction in Europe’s living sector.

The Glasmacherviertel is one of Düsseldorf’s most significant urban development sites. Formerly home to the Gerresheimer Glassworks until its closure in 2005, much of the land has remained unused following demolition works. Vastint and Hines intend to revitalise the area, creating a new residential district that complements the existing surroundings in Gerresheim.

The planning concept calls for a gross floor area of around 210,000 sq m, with at least 80% dedicated to residential use. Public green spaces, social infrastructure and commercial amenities will form part of the masterplan, while three historic buildings on the former industrial site are expected to be preserved.

“Glasmacherviertel is exactly the kind of long‑term urban transformation Vastint is committed to,” said Claudia Lewin, managing director at Vastint Germany. “Drawing on our experience with projects such as Sugar House Island in London, Aire Park in Leeds and Riverview in Gdansk, we look forward to working with Hines to create much‑needed homes and a well‑connected, mixed‑use place that becomes a natural part of Gerresheim. Quality must shape every decision so the neighbourhood creates lasting value for residents and the wider community.”

The development builds on nearly two decades of planning for the site, with concepts refined multiple times since 2005. The current phase places a clear emphasis on housing delivery, alongside public spaces and community facilities.

“With Glasmacherviertel, we aim to transform a site that has been lying fallow for many years into a new residential neighbourhood with approximately 1,700 apartments,” said Benjamin Biehl, senior managing director at Hines. “Hines’ conviction in the living sector is rooted in strong long‑term fundamentals and a persistent housing shortage in many major European cities. Projects such as Glasmacherviertel allow us to translate that conviction into new housing supply at scale.”

The neighbourhood will be delivered in several phases, subject to ongoing planning and approvals.
Vastint was advised by BNP Paribas Real Estate (buy‑side), PwC (tax) and Greenberg Traurig (legal). Hines was advised by JLL (buy‑side), Ernst & Young (tax) and POELLATH and Friedrich Graf von Westphalen & Partner (legal).