Greenford Quay – UK Purpose-Built Rental Housing Development ~2,000 Units
The Greenford Quay development will be a vibrant mixed-use and well-managed neighborhood on the banks of the historic Grand Union canal. Greystar acquired the former GlaxoSmithKline and Sunblest Bakery sites in January 2016, and has consulted extensively with Ealing Council, the Greater London Authority, local businesses, residents, and other stakeholders to develop proposals for modern canal-side living in the heart of Greenford — and bring the currently derelict 20.3-acre site back to life.
With approximately 185,000 sf of lettable commercial space and copious community floor space, the development will also create a wealth of new amenities for residents and the local community, including shops, a supermarket, restaurants, cafes, offices, open spaces, and new connections through Greenford, including the reopening of Berkeley Avenue and a new pedestrian bridge over the Grand Union Canal. The proposals also include a new two form entry Primary School and accommodation for a new on-site healthcare facility.
UK Purpose-Built Rental Housing Development
Development of the world’s tallest modular towers in the center of Croydon.
101 George Street is a residential development in Croydon, one of the largest commercial districts outside central London, with an extensive shopping district and night-time economy. Directly opposite of East Croydon train station, the asset is well connected, with rapid links to central London, Gatwick, and the South East Coast of the United Kingdom.
On completion, the building will comprise two of the world’s tallest modular towers. At 44 and 38 stories, the towers will have 546 units of purpose-built rental units with a rich amenity package. The towers will be developed using modular construction, a method providing a much faster alternative to traditional construction without compromising the quality of the building or the versatility of the design. Modules are constructed offsite to ensure a higher quality finish, with 80 percent less waste, fewer onsite workers, and greater cost and time certainty. The total build time for the project will take just 24 months, from construction starting to residents moving in to their new homes.
The project will be completed by 2020.
Student campus just outside the center of Amsterdam
OurCampus Amsterdam Diemen is a student campus just outside the center of Amsterdam, ideally located on top of the Diemen Zuid train and metro station. The apartments span five buildings with 941 rental apartments with private kitchens and en suite bathrooms, providing an ideal student home. This large-scale development has been completely repurposed for student living. On-site facilities include a medical centre, supermarket, five restaurants and cafes, an indoor and outdoor lounge area, two study areas, ample sports facilities, 24-hour security and a hospitality desk. Community events are organized by the onsite local Greystar team on a regular basis.
Netherlands Multifamily Development
Residential buildings targeting student and young professional in Amsterdam.
One of the oldest Dutch Real Estate developers, Blauwhoed, approached Greystar in 2015 about the opportunity to build two to three residential buildings (NLA of more than 56.000 sqm), spread over two inter-connected land plots to deliver 1,559 residential units.
The Holendrecht centre development project is located in the South East of Amsterdam/Amstel III close to the Amsterdam Medical Center with a working population of 30,000 employees as well as two universities combining 11,000+ students. The location benefits from a train station directly across from the asset, and a retail area with grocery shopping and snack bars. The municipality of Amsterdam has plans to build a pedestrian bridge allowing for a direct connection to the asset.
Greystar identified a severe housing shortage for students and young professionals in the Holendrecht area, with hardly any PBSA product and a low percentage of <50sqm housing units. Given the zoning for this project will be residential, Holendrecht centre will be targeting both students and young professionals.
The project will be completed in 2020.
Netherlands Multifamily and Student Development
Development of fully amenitized housing in prime location in Rotterdam.
OurDomain Rotterdam Blaak is a turnkey development opportunity to develop a fully amenitized residential project for young professionals and students in the prime downtown location of Rotterdam.
The asset is strategically located in the center of the “Rotterdam Knowledge Axe” on the banks of the river Maas, in a popular central location with upmarket shops and the famous “Markthallen”, a café, bar and food market. The location also benefits from an ideal infrastructure, with the metro, tram and train station Blaak stopping in front of the asset.
Expectations of increasing student numbers, coupled with a lack of higher-quality housing options in this segment, represent an opportunity for Greystar to build one of the first prime student and young professionals housing products in Rotterdam, the third largest student city in the Netherlands.
Greystar was able to revise and optimize the initial floorplans to create additional square meters of rentable space. The project has residential zoning and will offer 612 units on 24 total stories, part of which will be for short stay and the majority for extended stay units. The assets will have 20,580 sqm of residential and 547sqm of commercial NLA.
The project will be completed in December 2020.
Spain Student Housing ~9,300 beds
Largest student platform in Spain with more than 9,000 units, providing Greystar with immediate access and scale to the Iberian Peninsula
The 2017 acquisition of Spain’s largest student housing portfolio and operating platform, together with JV partners AXA Investment Managers and CBRE Global Investment Partners, gave Greystar immediate access and scale in a new market, significant deal pipeline, and the in-place Resa brand. It is an example of the company’s European growth strategy of purchasing well-established businesses or portfolios.
Resa, Spain’s market leader in student accommodation, has 33 locations in 19 Spanish cities, including Madrid and Barcelona, and an additional four assets under construction.
High-rise residential development in prime location
DC III marks the first investment for the partnership between Greystar and Partners Group, which is acting on behalf of its clients. The DC Tower III (DC III) project, will be approximately 900-apartment rental residential and student housing development in Vienna, Austria.