Belgium-headquartered real estate developer Immobel has acquired a residential conversion project in Evere, Brussels, which will see a former office transformed into 115 apartments.
Financial details were not disclosed.
The so-called Commodore project covers 11,000 m2, and has obtained a final permit. It is part of the Master Plan of the Brussels Region to redevelop a former office area into a pleasant residential neighbourhood with a pedestrian zone and cycle tracks in green surroundings.
Through this transaction, Immobel will be able to develop three residential buildings with 115 apartments for about 300 residents.
The buildings provide a mix of studios and 1, 2 and 3, 4-bedroom flats with terraces, 124 car parking spaces, and 229 slots for bicycles.
'The Brussels Capital Region has a structural shortage of quality affordable housing. With Commodore, we are responding to this demand and continue to expand our residential offer in Brussels. We are happy to contribute to the redevelopment of a former peripheral office area into a modern, pleasant and sustainable residential neighbourhood.' said Adel Yahia, managing director of Immobel Belgium.
The ground floors of the buildings are designed to accommodate commercial space and public facilities, including healthcare tenants. Residents will have access to numerous amenities at walking distance.
The site will include a park with an orchard and a shared urban vegetable garden to promote biodiversity on-site. The buildings will be equipped with a rainwater recovery system, solar panels and green roofs.
The project was conceived by a partnership between Stratel and Auxiliaire de Gerance, and designed by architect DDS+.