- First investment in major new development of rented social housing by the American company Heitman and Orange Capital Partners from the Netherlands
- First ‘all-inclusive housing formula’ for low and medium skilled young workers aged 18 to 30
- In the years ahead, Change= will deliver 10,000 fully serviced apartments in the four largest cities of the Netherlands for young people in employment with an elementary or secondary vocational education
Change=, developer of a unique residential formula aimed at low and medium-skilled young workers, has signed an agreement with Orange Capital Partners and Heitman to deliver 498 rented social housing properties on August Allebéplein in Amsterdam. It is one of the first direct investments by a foreign investor in a major new build construction project for rental properties in the Netherlands. The residential tower block will be 50 metres high and includes 498 studios which will be rented to young workers aged 18 to 30 for around €530 per month, over €100 less than may be charged within the price cap. Construction has now commenced and the properties are expected to be complete in late 2016.
Source: Capital Value
