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Altera Management B.V., on behalf of Altera Residential Fund, has entered into a turnkey agreement with Ballast Nedam Development for the purchase of 65 mid-range apartments in the sustainability icon Horizons Amsterdam. Horizons is being developed in Sluisbuurt, a new city district within Amsterdam’s ring road, based on a design by Paul de Ruiter Architects and FLUX Landscape Architects. Heddes Bouw & Ontwikkeling is responsible for its realisation. Horizons is the result of an exacting sustainability ambition that is trailblazing on numerous fronts. Horizons supplies energy, purifies water, stores CO2 in the construction materials and, in a first for the Netherlands, is now also selling the very first Carbon Credits as part of the housing investment.
This acquisition marks an important new step in the realisation of Horizons. The project brings together affordable housing, high-quality urban living and sustainability in a prominent location in Amsterdam. It will enable Horizons to continue to take shape as a future-proof development within the Sluisbuurt neighbourhood. The sale also confirms institutional investors’ confidence in highly sustainable apartment complexes and contributes to the expansion of the mid-range rental sector in Amsterdam.
Jaap van der Bijl, CEO of Altera: “With this investment, we are adding sustainable and future-proof apartments to our residential portfolio while also contributing to the expansion of Amsterdam’s mid-range rental sector. Horizons reflects our ambition to invest in high-quality homes that support the housing market and offer residents an attractive living environment.”
Onno Dwars, CEO of Ballast Nedam Development: “With Horizons, we’re demonstrating that sustainable construction and high-quality homes can go hand in hand. Altera’s turnkey purchase of these apartments confirms that there is strong market confidence in housing concepts that are not only future-proof, but also add real value to the city.”
Horizons: sustainability icon of the future
Horizons is an innovative building that sets a new standard for the future of sustainable construction by making a positive contribution to the climate. The building is energy-positive, generates more energy than it consumes and purifies and reuses water in the building’s Botanical Atrium. Thanks to the use of timber and other bio-based materials, the building also stores CO2. Moreover, Horizons features different rooftop landscapes, ranging from energy production to communal roof gardens, that encourage collectivity and interaction. With its variety of housing, from mid-range rental to owner-occupied apartments in the private sector, Horizons proves that the city offers a place for everyone.
Circular and positive impact for people and nature
Horizons will feature smart and circular solutions, including timber structures and Kerto-Ripa flooring, that increase flexibility and reduce the environmental impact. The use of concrete has been kept to a minimum and where its use was unavoidable for reasons of safety, robustness and load-bearing capacity, circular concrete has been chosen. The design has focused on efficient use of material and future-proofing. The meticulously designed roof gardens set a new standard for city parks, forming a natural part of a healthy and attractive urban living environment while boosting biodiversity in the city and benefiting residents’ physical and mental health.
A Dutch first in residential investment: Carbon Credits gain economic value
A key feature of Horizons is the storage of CO2 in the construction materials. The use of timber and other bio-based materials enables the long-term storage of CO2 in the building. In collaboration with the Climate Cleanup Foundation, this CO2 can be converted into Carbon Credits, ensuring that the building’s sustainable impact can be quantified and monetised. Part of the purchase of the mid-range rental apartments includes these Carbon Credits, which means that, with Horizons, Altera is marking a first for residential investment in the Netherlands. As a result, Horizons shows how, even at a macroeconomic level, real estate can also actively contribute to achieving the climate targets.
Part of the Sluisbuurt neighbourhood
Horizons is being developed in Sluisbuurt, a new sustainable city district within Amsterdam’s ring road that combines housing, employment and amenities. With this project, the district is gaining a future-proof residential building that will contribute to Amsterdam’s further development. The sale of the owner-occupied homes within Horizons is also set to start this year.
