Magdeburg City Council approves land development plan and sets course for the future of Börde Bogen. In its meeting on 9 June 2022, Magdeburg City Council approved the building development plan memorandum for the "Southern Sieverstorstrasse 174-2" area on which the Börde Bogen project is to be realised in the coming years. This is a joint venture between The Grounds Real Estate Development AG and the Stonehedge Group, both based in Berlin.

The building plot measures approx. 32,310 m2 and allows a building development with a gross floor area of approx. 67,870 m2.

More than 800 apartments are to be built here on seven construction sites and in various construction phases in the next few years.