Residential

Altera invests in mid-rent housing in Amsterdam

Real estate investor Altera Vastgoed NV (hereinafter: Altera) has reached an agreement with BMB development (part of VolkerWessels) and Reggeborgh Vastgoed on the purchase of part of the Nautical NDSM (B10) project, located next to the Amsterdam Marina on the NDSM wharf in Amsterdam North.

With project NDSM B.10, Altera is acquiring 157 apartments that meet the conditions arising from the “Action Plan More Medium Rent” of the Municipality of Amsterdam. The aim of this scheme is to realize affordable rental housing for the group of tenants who are not entitled to social housing or have a household income on the basis of which more expensive free sector housing is not feasible.

Altera will also purchase 24 high-end private sector homes, 965 m² of commercial space and 90 parking spaces in the project. The combined 181 rental properties will range in size from 42 to 125 sq. m. The project has a low EPC and will be equipped with PV panels and a heat and cold storage and heat pump installation.

Affordable housing for the city

The More Medium-Rent Action Plan aims to achieve affordable rental housing for the group of tenants who are not entitled to social housing or have a household income on the basis of which more expensive free sector housing is not feasible.

Altera’s CEO, Jaap van der Bijl: “With the purchase of project NDSM B.10, we are responding to the enormous demand for affordable housing in Amsterdam for workers in vital sectors, such as education and healthcare. This project, which also contributes to our ESG goals, is a great fit in our young and sustainable housing portfolio.”

Laurens Ivens (Alderman Municipality of Amsterdam): “We have a huge shortage of housing for middle-income people in Amsterdam. It is therefore very nice that it has been decided that the houses will not be rented in the expensive segment, but in the middle-income segment. Nautical NDSM thus provides an important and very welcome addition to the middle-rent segment”.

Diko Ruit (on behalf of BMB and Reggeborgh): “With the realization of Nautical NDSM we are taking an important step in the development of the NDSM shipyard. We are proud that with this project we can contribute to the affordable housing supply in the middle rental segment in Amsterdam”.

Artist Impression Nautical NDSM
Artist Impression Nautical NDSM

Location

The B10 site is located on the NDSM wharf, an area development where a new residential (approx. 5,000 homes) and work area will be realised until 2030. The area is part of the northern banks of the IJ west. This is one of the neighbourhoods that will make a major contribution to the housing supply of Amsterdam’s growing population in the years to come. Until 2025 it will even be the fastest growing neighbourhood, from over 4,000 to over 17,000 inhabitants. The most important locations for growth are the NDSM wharf, Overhoeks and the in-between Buiksloterham.

The project is located directly on the shore of the River IJ, on the former NDSM wharf – in Amsterdam North. NDSM is one of the creative hotspots of Amsterdam.

The planned construction is in the hands of Bouwcombinatie IBB Kondor/Kondor Wessels Amsterdam. Liesbeth van der Pol signed for the design with her architectural firm DOK architecten. The project is expected to be completed in 2023.

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