Investment, development, and management of high-quality rental housing properties – Greystar – announces today (17 January 2022) it has signed an agreement with developer Stebru for the acquisition of Levels in The Hague. The agreement follows recent successful co-operation between the two parties in the realisation of OurDomain Rotterdam Blaak, a large-scale residential complex in the centre of Rotterdam which reached its highest point in April 2021.
Levels in The Hague is located next to public transport station Moerwijk in the Southwest of The Hague. The scheme comprises 548 rental homes across all rental market segments. Greystar will acquire 406 Build to Rent homes, of which 162 are in the affordable mid-priced segment. The remaining 142 apartments will be sold to a housing corporation.
Levels in The Hague is a development of Stebru in collaboration with Vestia and the Municipality of The Hague. The scheme is expected to complete by mid-2025. Greystar’s investment in this development is part of its pan-European residential investment strategy. For the acquisition of the 406 rental units, Greystar was advised by Houthoff. Capital FIT supervised the Commercial sale on behalf of Stebru, with Holter Noordam lawyers as legal advisor for the contract design and formation.
The development is designed as an urban entrance into The Hague Southwest. The project includes resident facilities and public amenities in the plinth of the building. Levels in The Hague includes diverse functions and facilities for residents and the neighbourhood, which include parking, office space, small-scale business activities – and may have catering establishments. These will be located around the base of the high-rise buildings, which will be 40 to 70 metres high – with the highest tower a 100-metre high landmark. A green roof landscape will also be created on the roof of the parking garage.
Urban development integration
Levels in The Hague is consistent with the municipal ambitions for this location in the city in terms of landscape, urban planning and architecture, and fits within the Municipality’s Housing Agenda focusing on sufficient and affordable housing that contributes to the attractiveness of The Hague as a residential city. The design of Levels was created in collaboration with the Hague architectural firms HvE Architecten, A.P. Bontenbal Architecten, AAArchitecten and the urban designers of MUST.