The Belgian arm of French property company Nexity has launched the development of a new mixed-use project on one of the last available sites in the European district of Brussels. Designed by architects A2RC, the project consists of three elements, in particular a 110-room hotel, residential apartments and office space. Completion of the complex is scheduled for the first half of 2011, Nexity said.

The project has already been acquired by three investors through three forward-purchase agreements. The hotel was acquired by Belgian company Home Invest Belgium, the residential section was sold to the city of Brussels, and the office part was purchased by a trade union of doctors. The financial details of these transactions were not disclosed.

Nexity said that the hotel will be operated by Orion International, a unit of the French hospitality group Pierre et Vacances, which has taken a 15-year lease on the scheme.