Greystar Real Estate Partners has signed an agreement with developer Stebru for the acquisition of 406 private-sector rental flats in the new development, Levels in The Hague. The agreement follows the recent successful co-operation between the two parties in the realisation of OurDomain Rotterdam Blaak, a large-scale residential complex in the centre of Rotterdam.
Levels is a development of Stebru in collaboration with Vestia and the Municipality of The Hague located right next to public transport station Moerwijk in the Southwest of The Hague. The total development comprises 548 rental homes across all segments of the rental market. The 142 apartments in the social sector will be sold to a housing corporation. Greystar will acquire the remaining 406 private rental homes, of which 162 are in the affordable mid-priced segment. The project includes residents' facilities and public amenities in the plinth of the building.
The development is designed as an urban entrance into The Hague Southwest including diverse functions and facilities for residents and the neighbourhood, such as parking, office space, small-scale business activities and most probably catering establishments. These facilities and activities will be located around the base of the high-rise buildings, which will be 40 to 70 metres high. The highest tower of the property is a 100-metre high landmark. A green roof landscape will be created on the roof of the parking garage.
Greystar's investment is part of its pan-European residential investment strategy. The intended completion date of Levels in The Hague is in mid-2025.
