Multi Corporation has signed an agreement with the Municipality of Helmond to redevelop the former Vroom & Dreesmann (V&D) department store in Helmond city centre into 100 new homes, with apartments available for private sale and for rent.
The project will transform the former V&D department store into a vibrant mixed-use development, with co-located residential and retail, integrating new homes on floors two and three, above the retail space on the ground and first floor, which is almost fully let to retailers including Sport2000, Intertoys and Scapino. This redevelopment aligns with Centrumperspectief Helmond 2030, a strategic vision developed by the Municipality of Helmond to bring more people into the heart of the city, enhancing its liveliness and fostering a dynamic, sustainable urban living environment. The plan also includes improvements to bicycle parking and the introduction of shared car initiatives to promote more sustainable transport options.
The agreement with Municipality of Helmond to redevelop an underutilised city centre retail asset builds on Multi’s portfolio of successful residential redevelopments in the Netherlands, driven by increased demand for housing due to national shortages and the growing opportunity to repurpose vacant office and retail spaces. Recent projects include the transformation of a former shopping centre in Valkenswaard into a mixed-use destination comprising 80 residential apartments and 1,200m2 of retail space, as well as the ongoing redevelopment of a 10,000m2 former office complex in Alkmaar.
Steven Poelman, Co-CEO of Multi Corporation, commented: “The redevelopment of the V&D store, in the centre of Helmond, presents a unique opportunity to partner with the local municipality to address the housing shortage in the Netherlands, bringing new homes into a city centre location that will attract young professionals, first-time buyers, and older residents, who wish to remain close to amenities. Building on 30 years of urban development, this is a prime example of how Multi is leveraging its development capabilities and vertically integrated model to deliver high-quality, mixed-use assets that contribute to the revitalisation of city centres.”
Gaby van den Waardenburg, alderman for housing and urban development, for the Municipality of Helmond, said “Our agreement with Multi-Corporation enables the Municipality of Helmond to deliver 100 new homes, retaining and attracting new residents into the city centre. This helps to strengthen our centre and address the housing shortage in our municipality. The redevelopment plans will give the building a new lease of life, transforming underutilised retail space and making it fit for the future.”
Construction is expected to begin in 2027.
Image source - Multi-Corporation.
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