Urban development City of Zug plans 60-metre-high high-rise building at Theilerplatz
The city of Zug wants to buy a plot of land at Theilerplatz for 65 million Swiss francs. It intends to build a 60-metre-high high-rise building with a 70 percent residential component on the 7240 square meter site.
24.09.2024, 13:56
SDA
Of the total of 19 storeys, four storeys are earmarked for commercial space and at least three storeys for affordable housing, as the city of Zug announced on Tuesday. However, the city council intends to realize not only the minimum, but a higher proportion of affordable housing.
In doing so, the city council wants to make a contribution to achieving the "2000 affordable apartments for Zug's middle class" initiative, as stated in the press release. By acquiring the land, it also wants to influence the design and public use of Theilerplatz.
The building is to be realized as a condominium. The condominium units are to be allocated to housing cooperatives and non-profit developers under building rights.
The plot is part of the LG-Areal development plan perimeter. The development plan was approved by the landowners at the beginning of September 2024 and is to be approved by the city council for preliminary cantonal review in fall 2024. The land purchase transaction will also be discussed by the committees and the city parliament in the fall. The purchase will be submitted to the voters at the ballot box.
The property comprises a large part of Theilerplatz and the former Landis & Gyr railroad station building. According to the city, this is one of the few large, undeveloped plots of land in the city. The seller is the real estate company Park Lane Zug AG.
