We understand “neighborhood development” as a holistic approach to developing entire areas of towns or cities. Contiguous groups of buildings and their environment are seen as an inseparable unit. Neighborhood development measures are implemented taking both financial and social criteria into account. A conscious decision has been made to focus on a neighborhood’s long-term development.
The investment measures aimed at maintenance, modernization and new construction described above are being expanded to include other measures. These measures relate to infrastructure improvements for any demolition measures that have to be taken, the realization of holistic energy concepts and urban development issues. “Soft” factors are also very important when it comes to implementing neighborhood development measures. Identifying the right combination of all of these tools allows us to consider to the diverse array of stakeholder interests. We often have to take conflicting interests into account. These also include, not least, the interests of public-sector stakeholder groups. The active involvement of residents and the cooperation initiatives with federal states and municipalities are designed to help identify solutions to create livable neighborhoods in the future. Holistic neighborhood development always has an impact on urban planning development as well, not only because the existing infrastructure is improved. These measures often strengthen the provision of local basic services as well. Taken together, all of these measures have an impact today and in the future, which is why it is absolutely crucial for the measures to focus on the needs of the specific target group.
In 2016, Vonovia invested a total of around € 120 million in new initiatives, which also include neighborhood development and new construction projects.