New splendor for Mariahilfer Straße: demolition and new construction will start soon!

New splendor for Mariahilfer Straße: demolition and new construction will start soon!

The future of the Signa shell on Mariahilfer Straße is clearer than ever, as extensive renovation is imminent. In an important step, Stumpf Development GmbH, which acquired the unfinished “Lamarr” department store property in autumn 2024 from the insolvency of the Signa Group, has presented the plan to partially demolish the front part of the building. This measure is intended to further increase the attractiveness of Mariahilfer Straße, one of the most important shopping streets in Vienna. Weekend reports that the retail areas on the lower floors are necessary to meet the requirements of the business zone.

Planned sales areas will extend over 12,000 square meters on the 1st basement, ground floor and 1st floor. In addition, around 200 apartments with open spaces totaling 15,500 square meters are to be built on the 2nd to 8th floors. A 4-star superior hotel with 220 rooms will be located in the rear area of the building, while the publicly accessible, green roof terrace with an agreed right of use for the district is a further attraction. that this greening was an important concern of the residents.

Renovation with a focus on quality of life

The planned measures aim to create an attractive mix of uses for residents, guests and businesses. Stefan Zöser, Managing Director of Stumpf Development GmbH, emphasizes in a press release that this conversion not only takes commercial needs into account, but also takes the quality of life of the residents into account. As a retreat, the 1,000 square meter public park on the roof will provide further green oases in the city.

The ambitious project is led by Georg Stumpf, one of Austria's wealthiest investors. Demolition work is scheduled to begin in July 2025 and the shell will be built in 2026. Interior construction is scheduled for fall 2026, while completion of the entire project is expected by late 2027 or early 2028. This not only provides new living spaces, but also new opportunities for local shops and services, benefiting the entire surrounding area.

Urban development in focus

At a time when urban development is under more scrutiny than ever, this project shows how important it is to focus on the needs of city residents. The large number of planned commercial areas as well as the residential options are likely to revitalize not only Mariahilfer Straße, but also the entire 7th district of Vienna. The hotel concept and the public roof terrace are clear signs that quality of life and economy in Vienna should go hand in hand, which has the potential to truly enrich the urban landscape. Vienna offers further insights into such developments in the city.

Overall, it remains to be seen how the project will develop, but one thing is certain: Mariahilfer Straße and its surroundings can look forward to a breath of fresh air.