TBD sells the sustainable urban development 'Crossroads' in Amsterdam to MN and De Key
Property developer To Be Developed (TBD) has sold the urban development Crossroads in Amsterdam Nieuw-West to MN/PMT and housing association Lieven De Key.
The innovative architectural mixed-use development, designed by MVSA Architects, consists of two striking residential towers with a commercial plinth and comprises of approximately 31,000 sq m. The eastern tower consists of 132 student apartments that are being developed in cooperation with De Key. On behalf of its client PMT (Pensioenfonds Metaal en Techniek), MN purchased 119 medium-priced rental dwellings, 120 private sector dwellings and the commercial plinth, of which a large part has been leased to a supermarket. The construction of Crossroads is in the hands of VolkerWessels company Boele & van Eesteren and will start in 2022.
Crossroads accelerates transformation of Sloterdijk station area
Crossroads is a pioneering project and part of the restructuring of the Sloterdijk station area, which is currently being transformed to a multi-functional area. The project consists of four components, each with its own high-quality architecture. The plinth has a very transparent and inviting character. In the central section, spacious apartments are being built. They ensure a link to the 90-metre-high residential tower, from which the glass corners offer a beautiful view of the city. The second tower, where student apartments will be realised, will be 40 metres high and have striking balconies. Crossroads responds to the ever-increasing demand for good, sustainable, and affordable housing in Amsterdam. To stimulate the urban quality of life, various public facilities will be added for the neighbourhood and its residents. The spearheads are spatial quality and ensuring social safety.
"Where roads and flows of people intersect, district Amsterdam Sloterdijk will get a fresh, green and dynamic boost. Crossroads makes a strong architectural statement and simultaneously creates a solution for both urban densification and the housing shortage," said Roberto Meyer, MVSA Architects.
"I am delighted that MN and De Key have trusted us with this iconic project. We are currently building the Adagio tower in the centre of The Hague for MN in the Sonate project, which was also designed by MVSA Architects. The Crossroads project is a logistical challenge that we are tackling together with all the partners and stakeholders. Our team is ready to realise this architectural highlight," said Peter Mannak, Boele & van Eesteren.
"Crossroads is an exceptional project in many ways. It has a high standard of technical ambition due to the low EPC requirement, climate control, water storage, acoustic solutions and dealing with vibrations due to its proximity to the railway. Financially, legally, and programmatically, this is the most complex and challenging project TBD has developed so far. This could never have been achieved without the commitment of our partners MN, De Key, Boele & van Eesteren and the project team of the City of Amsterdam. All of whom have gone to great lengths to ensure that this project is realised," added Hans Woerlee, TBD.
"With the purchase of the Crossroads project we are fulfilling our client's ambition of further growing the size of the Dutch real estate portfolio. The project is also in line with our objectives to make the portfolio more sustainable and to invest in affordable housing for a broad target group," said Remy van Dinther, MN.
"Lieven de Key is pleased that with Crossroads we are adding 132 student apartments to the city of Amsterdam – sustainable housing in a neighbourhood that is in full swing with attention for nature and liveability. It is a dynamic area for students, providing a mix of living and working located next to the Sloterdijk train station area and within cycling distance of Amsterdam's city centre. With this superb 14-storey residential tower, Lieven de Key is contributing to the dynamics of the city by offering young professionals the chance to make the first step on the property ladder", added Eelco Siersema, Lieven de Key.
Ronald Koemans, Associate Director Residential Investments, explained: "The skyline of Sloterdijk will gain an innovative, climate-adaptive development with EPC label A (EPC <0.15) and an average GPR score of 8. Project Crossroads is an important booster for the rest of the Sloterdijk centre area. It will be a place where people can meet, and where living, working, and shopping come together. We are very proud that we have been able to supervise this large-scale new-build transaction."
TBD was assisted in the transaction by Savills and DLA Piper. NautaDutilh and Capital Value assisted MN/PMT.