Heijmans receives approval to take over the development of Centrum Amsterdam Noord (NL)

Heijmans has received approval from the Municipality of Amsterdam for taking over the second phase of the development of Centrum Amsterdam Noord (CAN), the Boven 't Y sub-plan, from ING Real Estate Development. Heijmans has reached agreement in principle with Syntrus Achmea concerning the development and construction of this project.

This makes Heijmans, together with Syntrus Achmea and the Ymere housing association, a partner in one of the most important developments in Amsterdam. The total value of this project is approximately €155 million. Heijmans will carry out the development under the name Proper-Stok.

The Amsterdam Municipal Council approved the takeover by Heijmans on September 19, 2012. This CAN Boven 't Y phase consists of a total of 220 flats, approximately 23,000 m² of shopping space and almost 900 parking places.

In addition to being the developer, Heijmans is also the builder of the plan. Of the 220 flats, 150 will in principle be acquired by the investment company Syntrus Achmea and 70 social rental flats will be acquired by the Ymere housing association. Syntrus Achmea will become the investor and co-developer for the commercial areas.

CAN is the most important area development project in Amsterdam North, including the first stop of the North-South line as a central feature. This new area will reinforce Amsterdam North's city centre consisting of the shopping center, municipal district offices, the Regional Training Centre (ROC) and the future first stop of the North-South line.

The total CAN development furthermore consists of the development and realization of 900 homes and facilities, such as a hotel and cinema in the station area, and in the districts Noorderkwartier, Elzenhagen North and Elzenhagen South.

Construction is expected to start at the beginning of 2014 and depends on a definite agreement with Syntrus Achmea.

The agreement is consistent with Heijmans' strategy aimed at developing and constructing homes in the mid and high-end rental market in addition to the sale of individual homes thereby anticipating trends in the housing market. As such Heijmans is anticipating trends in the housing market.

Source: Heijmans NV

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