Altera acquires 225 homes in Amsterdam’s new De Pionier development

Real estate investor Altera Vastgoed NV (hereinafter: Altera) and construction firm Bouwbedrijf Adriaan van Erk, part of KlokGroep, have reached an agreement on the acquisition of 225 rental homes as part of the mixed-use project De Pionier in Amsterdam.

The project (hereinafter: De Pionier) is located in the city’s Haven-Stad area, which is currently undergoing large-scale development. De Pionier is a mixed-use development consisting of 471 homes: 30% in the social housing sector, 40% mid-range properties and 30% in the deregulated owner-occupied and rental sector. A further 15,000 m² of the project has been earmarked for social and community facilities.

Altera is acquiring 225 rental homes in the project. Of these, 175 will be in the mid-range rental sector and the remaining 50 in the deregulated sector. The social housing and community facilities will be taken over by housing association Lieven de Key and the City of Amsterdam. The facilities will take the form of a nursery and a community school. The commercial sections will consist of offices and a range of spaces for small and medium-sized businesses.

With an A+++ energy label, a BENG 2 rating and features such as green roofs, vertical gardens and green courtyards, the development is also clearly in line with Altera’s sustainability goals.

Altera’s CEO, Jaap van der Bijl says: “ Through this acquisition, we are meeting the need for housing in Amsterdam in light of the expected population growth by 2050. Mobility, sustainability and affordable housing for a diverse range of households are all key to this objective. As part of this picture, mid-range rental is an important category for the various target groups, combined with the availability of social and community resources.”

Construction is expected to start in mid-2025 and to reach completion in mid-2028.

New district

In terms of development, De Pionier is paving the way for a whole new urban district: Haven-Stad. Located in northwest Amsterdam, it has been designed by Mulderblauw architects. De Pionier forms part of this large-scale Amsterdam development and redevelopment, near Transformatorweg and inside the ring of the A10 motorway. From its location on Turbinestraat, the building’s highest points reach 60 metres and form a gateway to the new district of Sloterdijk I. On completion, De Pionier will be part of a residential area with a focus on greenery, sustainability, health and quality of life.

Harrie Doebe and Raimond van Koert of Adriaan van Erk share their vision of the project: “De Pionier is a new urban feature in the big city. It brings its own dynamic, which is our contribution to a sustainable living environment that looks to the future. At the heart of the plan is De Groene Smaragd, a courtyard garden. This ‘green emerald’ creates a sense of togetherness and the chance to enjoy a green environment in the middle of the city. De Pionier is steadily taking shape. A big part of this is our architectural concept, with its focus on meeting the needs of future residents and users while doing justice to the setting. A vibrant neighbourhood is one that offers a strong mix of functions. Living, working and recreation coexist and are woven into the vision that Adriaan van Erk, the City of Amsterdam and housing association Lieven de Key have formulated together.”

Roel Timmermans and David Vos of Cushman & Wakefield say of the acquisition: “The mixed-use character of De Pionier and its current stage of development means that several aspects of the project are still in flux, which makes the project both exceptional and complex. The outcome of this process shows a cautious shift in the Dutch investment landscape, involving collaboration at an early stage between an institutional investor and a developer to arrive at an ideally suited and sustainable housing product that is ready for the future.”

KlokGroep was advised on the transaction by Cushman & Wakefield and AKD Advocaten en Notarissen.

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