LABORGH Acquires 31,100-SM Berlin-Lichtenberg Development Site From Periskop-Advised Company for Affordable Housing Project
LABORGH Investment GmbH has completed the acquisition of an approximately 31,100-square-meter development site at Weißenseer Weg 51 / corner of Konrad-Wolf-Straße in Berlin-Lichtenberg, purchasing the property from a company advised by Periskop Partners. The purchase price was not disclosed.
The site, located adjacent to the Sportforum Berlin, is planned to become a mixed-use urban quarter comprising around 700 affordable residential units, approximately 15,000 square meters of commercial gross floor area, and social infrastructure. A turnkey handover to a state-owned housing company is envisaged upon project completion, according to the announcement.
Development Plans and Timeline
The planned development envisions a total gross floor area of at least 70,000 square meters, with 80 percent designated for residential use. The remaining commercial space is intended to accommodate retail for daily needs, small-scale shops, daycare facilities, medical services, and other education- and community-oriented uses.
The project is currently undergoing an urban development planning procedure. Subject to the outcome of that process, construction is expected to start in 2027. Periskop Development continues to oversee the ongoing zoning process as part of a joint development partnership with LABORGH.
"This property is unique in many ways — due to its size, location, and history. Above all, because it has stood unused for decades, shaping the urban landscape as a ruin. We are pleased that we can now turn this location into a sustainable and tangible development. Our focus is to responsibly transform complex Berlin sites into projects that serve the city in the long term," said Florian Lanz, Managing Director of LABORGH Investment GmbH.
Historical Significance of the Site
The site is historically linked to the former Sporthotel Hohenschönhausen, which was constructed in the 1960s as accommodation for GDR elite athletes and later expanded into a sports and congress center in the 1980s. Following German reunification, the complex fell vacant and deteriorated, becoming one of the more widely recognized derelict properties in eastern Berlin. The site has been identified as a key development opportunity for the Lichtenberg district.
Its proximity to the Sportforum Berlin, tram lines M5, M6, and M13, and the S-Bahn connection at Landsberger Allee underscores the site's urban connectivity, according to the announcement.
Periskop Development's Role and Continued Collaboration
Periskop Development advanced the planning framework for the site in recent years prior to the transaction. The firm will continue to participate in the project through a joint development partnership with LABORGH as the zoning process proceeds. The transaction represents a continuation of an existing collaboration between the two firms focused on affordable housing creation in Berlin.
"We are delighted to further develop this prominent site together with LABORGH and make a tangible contribution to Berlin's urgently needed housing supply. A location that lay idle for decades will once again become an active part of the city: at least 70,000 square meters of gross floor area will be created — 80 percent of which will be residential and transferred to a state-owned housing company. This is urban responsibility in practice," said Dr. Simon Kempf, Managing Director of Periskop Development GmbH.
Project Structure and Handover Arrangement
The project's structure centers on residential units that will be transferred to a state-owned housing company upon completion. LABORGH stated it continues to seek additional sites with development potential in Berlin.