VORM sells 194 mid-market rental homes in Fibonacci on the Panamalaan in Amsterdam
15 januari 2021
On 1 December 2020 national project developer and builder VORM and investor and developer Rockfield Real Estate (on behalf of one of their funds) signed the agreement for the realisation of the residential building Fibonacci in Amsterdam, in the East district. Capital Value advised VORM during the transaction. Construction is expected to start in the second quarter of 2021. Completion is scheduled for the third quarter of 2023. Rockfield will provide the property management for the building.
VORM is adding 243 rental apartments to the sustainable and affordable rental segment in the municipality of Amsterdam with Fibonacci. All the homes are part of the affordable rental segment, of which 20% are intended for the social rental housing segment (purchased and managed by Stadgenoot housing association) and 80% for the mid-market rental segment. The 194 mid-market rental apartments are intended for one of Rockfield's funds.
Affordable housing
During the development of Fibonacci a great deal of attention was paid to the living space of the future residents. The new residential building will receive a balanced mix of target groups and functions. "We are creating a sustainable living environment with a community living concept," says Jeroen van Lier, Development Manager of Area and location development at VORM. "With Fibonacci, we also are providing a very large contribution to the municipality of Amsterdam's goal of building 1670 mid-market rental homes annually," adds van Lier. Rockfield and VORM are working on providing affordable housing for target groups such as young professionals as well as others with Fibonacci in Amsterdam.
Living in Fibonacci meets the needs of urban living; a combination of city living with a green touch. The community concept is being leased by Rockfield under the name Fibonacci that is characterised by a high-end complete finish of the apartments with floor, wall and window coverings, and is aimed at providing hospitality, service and community. Amenities will be built into the residential building that encourage interaction and participation between the residents and the immediate surroundings. Rockfield wants to contribute to the further growth and development of the Eastern Docklands area (Oostelijk Havengebied) with this characteristic hospitality and well-publicised programming of social events.
Sustainable homes
The homes are a high-quality addition to the East district and will be completed with an EPC rating of 0.15 and a GPR building score of 8. The building is equipped with its own thermal energy storage system which is connected to the individual homes. In addition, the green roof gardens will be used for storing 200 m3 of water which will be used to irrigate the plants as well as for other purposes.
Location
The plan area is situated in the Eastern Docklands area of Amsterdam (East district). The Eastern Islands (Oostelijke Eilanden, the Funenpark and the Czar Peter neighbourhood) lie to the west and are part of the city centre district. The Cruquiuseiland lies to the east of the plan area. The surrounding infrastructure creates a type of residual area and island within the city. The train tracks on the west side, the Panamalaan on the east side and the Cruquiuskade on the south side form the boundaries of the area.
Marijn Snijders, Director Capital Value, "Fibonacci lies in a beautiful location and is a very welcome
addition to the Amsterdam housing market. It is wonderful that Rockfield Real Estate is investing in a project with mid-market rental apartments in Amsterdam where a great deal of demand is. They are providing an important contribution to addressing the housing shortage in our capital."