ING Real Estate in renovation Helmond city centre

The Mayor and Aldermen of Helmond wish to enter into a long-term cooperation with the combination ING Real Estate and Amstelland Development for the development of the town plan. The municipality has formulated an integral structural concept for the town plan in which substantial space will be dedicated to living, working, shopping and parking.

The municipality and both developers are now examining the content of the letter of intent. It is the intention to finish this examination immediately after the summer in order to sign the letter of intent in October.

In ING Real Estate and Amstelland Development the municipality thinks to have found partners that represent a well-balanced mix of specific knowledge in the field of retail, cultural facilities, commercial real estate and living on a local, regional and national level. At the same time both partners are financially sound and have considerable experience with town centre renovation.

Together with ING Real Estate and Amstelland Development the municipality will develop a master plan for the city centre. In this plan issues such as visual quality, architecture, division of tasks and phasing will be elaborated. It will be ready in the fall of 2003. After that a start can be made on parts of the plan. The entire development will last 12 –15 years.

The estimated volume of investment of the entire project will be € 450 million.

(source: ING Real Estate)

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