Jernbanebyen is the last major piece in urban development in southern and central Copenhagen. The 365,000 sqm urban development area will be transformed into a new district, which will have two larger parks and three football pitches. With the consistently green character, everyone with a connection to Jernbanebyen will live and work with nature up close in an otherwise partially car-free district.

One owner, Freja Ejendomme, has just sold its part of Jernbanebyen - a plot of 78,000 sqm - to NREP, Novo Holdings and Industriens Pension, which will thus be involved in the development of the area in the future.

“We have long had a dream that Jernbanebyen will become a very special district that sets new standards for the preservation and transformation of the area's building heritage, for sustainable solutions at both building and city level and the establishment of green, active communities. With Baneby Konsortiet as our development partner, we have ensured that it not only stays with the dream, but that we can further develop and realize the dream together - we share the same vision, ”says Carsten Rasmussen, director of Freja Ejendomme.

The newly established Baneby Konsortiet, which is owned equally by NREP, Novo Holdings and Industriens Pension, will now continue to work with Team Cobe's project, 'Jernbanebyen - on the trail of a green, sustainable district', which won the architectural competition for the area in the spring.

“Team Cobe has made a fantastic project, and we fully support the City of Copenhagen's ambition to create a green district with mixed housing. At the same time, we will use the unique opportunity, which is to work with a new district, and together with i.a. Freja and Team Cobe create a world-class sustainable neighborhood. This applies to the environment and climate and in particular also health, where we with our competencies within buildings and urban spaces have set ourselves the goal of creating a district that is among the healthiest in the world, ”says Jens Kramer Mikkelsen, Urban Development Director, NREP.

The health ambitions must include is achieved by reducing the CO2 footprint and using environmentally friendly and energy-efficient building materials. The buildings are optimized in relation to e.g. indoor climate, acoustics and daylight, just as the green tissue and recreational areas between the buildings will characterize life in the southern part of Jernbanebyen and contribute to the area's biodiversity. Wastewater and food waste must be utilized locally, just as there is an ambitious plan for sustainability certification at both building and city level. For example, the plan is for all residential properties to have DGNB Gold and DGNB Heart.

"We see great prospects in the development of Jernbanebyen, and the investment fits in well with Novo Holdings' strategic focus on investing in sustainable properties and infrastructure. We expect that the investment will generate an attractive return and at the same time see an exciting opportunity to be part of a long-term value creation in Baneby Konsortiet and thereby contribute to an ambitious, healthy and green development of Copenhagen with a focus on diversity, "says Morten Beck Jørgensen, Managing Partner, Novo Holdings.

Freja Ejendomme, together with the other landowner, DSB Ejendomsudvikling, has for a long time worked to translate the proposal from Team Cobe into a final comprehensive plan, which will form the basis for the start statement and local plan for Jernbanebyen. This process continues to be carried out in close collaboration with Team Cobe, the City of Copenhagen, local committees, neighbors and other stakeholders in an open and inclusive process. Going forward, NREP, Novo Holdings and Industriens Pension will now also be included in this work, where ideas and wishes must be transformed into a concrete local plan:

“We are pleased to contribute to the development of a new large sustainable district for Copenhageners. It will be a diverse district, where there will be a really good mix of general construction, construction for young and old, owner-occupied housing, and where we expect many new jobs. It is a long-term investment and a partnership that we expect to provide solid and stable returns for the members for many years to come,” says Jan Østergaard, head of unlisted investments in Industriens Pension.

Freja Ejendomme and Baneby Konsortiet will in the near future initiate a dialogue with interested actors in Jernbanebyen - including not least the public housing companies.

It is in the southern part of Jernbanebyen that the development begins, and it is precisely this part that is covered by the agreement between Baneby Konsortiet and Freja Ejendomme. It is expected that there will be a proposal for a local plan in 2022 and that it can be finally adopted in 2023. The first sod is expected in 2023 or 2024. Freja Ejendomme will continue to be a central part of the development project until an approved local plan for it is available. 78,000 sqm large plot.

The deal is subject to an approval of the establishment of the Baneby Consortium by the EU Commission and an adopted local plan.