Germany: GBI AG has teamed up with investor DG Steinplatz 4 to build 35 serviced apartments on the site of the former Hotel Astoria.
The Astoria building, which was constructed in 1888 at
Fasanenstrasse 2, was closed in 29014 and demolished.
The Smartments new-build project will be named after the author Gabriele Tergit, and will open in late 2016.
The 35 apartments include 31 studios and four two-bedroom apartments, ranging in size from 24 to 47 square metres.
GBI has 17 Smartments buildings across Germany. Managing director Michael Bind said: "There is currently an increasing need for such accommodations. There is a minimum stay of one week. Usually the guests stay at Smartments for up to three months."