The Reykjavik City Council today approved an agreement with Reitir, on the first phase of new development in the Kringla area. Reykjavik Community Housing (Félagsbústaðir hf.) will receive a purchase option on some of the apartments. Reitir commits to working with others on a plan for preschool services in the area and the landowners together with the city will allocate a sum of money for artistic creation there.
Concept competition
A concept competition for the planning of the Kringla area north of Listabraut was held in 2017 to generate ideas for a new and dense urban environment where diversity would be enjoyed. Kanon Architects’ proposal won first prize and a framework plan was approved in June 2018. The framework plan calls for development in seven separate phases and the agreement is part of the first phase of the development.
New zoning plan in progress
According to the Reitir’s idea, it is expected that around 418 apartments will be built on the plots, in addition to commercial premises. This involves over 56 thousand square meters of residential premises and over 11 thousand square meters of commercial premises. Reitir is expected to pay over one billion isk.kr. for the building rights. In addition, Reitir will pay a street construction fee and other statutory fees related to the development.
A new zoning plan for the plots is in progress and the location of the plots, their use, the volume of buildings and more may change upon its approval. Construction on each plot is to be completed within 36 months of the issuance of a building permit.
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Art, kindergartens, community housing and public spaces
The proposed development falls under the approved housing plan for the City of Reykjavík and the general contractual goals of the City of Reykjavík in new development areas. Accordingly, the landowners commit to spending a special amount of ISK 11.5 million on art in public spaces in the area, and the City of Reykjavík is contributing the same amount.
Based on the above contractual goals, it is assumed that around 20% of the apartments will be rental apartments, including student apartments, apartments for the elderly and/or residence rights apartments.
Reykjavik Community Housing (Félagsbústaðir hf.) has the option to purchase up to 5% of the apartments that will be built, and if they exercise their option, those apartments will be considered part of this 20 percent. The landowners Reitir are committed to cooperating with other landowners in the area on how to ensure kindergarten services in the area.
Public spaces are planned as well as a pedestrian and bicycle bridge over Kringla street to connect the Reitir land with the surrounding area.
Building a City for People
The Mayor of Reykjavik will hold an open briefing on housing issues tomorrow, Friday, March 28, 2025, at Reykjavík City Hall, and the meeting will be streamed online. The topic of discussion will include the Kringlan area.
The Mayor’s briefing on housing issues.
Source: Reykjavik.is
