Heijmans and the Staedion housing association signed the partnership agreement for the development of the Municipal Industrial Site/Regentesse-Zuid in The Hague on October 3, 2012. The agreement is valued at approximately 105 million, with a Heijmans share of 50%.
Construction will commence in 2014. Heijmans will carry out the development under the name of Proper-Stok. Approximately 40% of the total development will be constructed by Heijmans.
The Municipal Industrial Site is an inner city redevelopment initiative situated at the edge of The Hague's city center. Staedion and Heijmans will transform this location into an area with a large number of facilities and an urban character primarily focused on young families.
The plan matches the current market in which households would like to establish a bond with the city and are looking for an affordable home. The plan comprises approximately 430 homes, with at least 40 subsidized rental homes, 80 rental homes in the private market, 310 land-based homes for private sale, approximately 700 parking spaces and 4,000 m² of facilities, including the redevelopment of the surrounding public area.
The partnership agreement follows on the declaration of intent signed in mid-2011 by Staedion and Heijmans. The total project is slated for completion in 2022.
The agreement is consistent with Heijmans' strategy aimed at developing and constructing homes in the mid-rental market segment in addition to the sale of private homes. As such Heijmans is anticipating trends in the housing market.