Doniger Urban Developments and Camelot Real Estate have purchased a 3,500 m2 large office building at 17 Paasheuvelweg in Southeast Amsterdam to convert into 52 studios and apartments.
This notification comes from Camelot Real Estate without financial details. The municipal cadastral offices have not digitally processed this yet. Next to this office building a new 17 -storey residential tower will be built with 1800 units. In this part of the Southeast several residential projects are planned to transform the neighbourhood into a lively work and living area. This is the second investment within a short time by Doniger and Camelot, to create housing units in Amsterdam.
Olaf Terpstra, developer at Camelot, on the project: “the demand for affordable housing in Amsterdam remains high. By converting surplus commercial real estate into residential real estate, we can solve two problems simultaneously, less vacancy and more residential housing for starters and students”.
We expect that the project will be realised by the end of 2018. The building is located right next to the former ABN-Nispa building which has been converted into 350 studios, and is managed by Camelot Real Estate Management. With the start of this new project Camelot will be managing 4,500 apartments in Amsterdam and are developing another 1,350.
Source: Real Estate Journal
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