Altera acquires 54 apartments in ‘s-Hertogenbosch’s Palace Quarter

Real estate investor Altera Vastgoed (Altera) and BV Ontwikkelingsmaatschappij Paleiskwartier have reached agreement on the acquisition of 54 new apartments in the Terrazzo project, located in ‘s-Hertogenbosch’s Palace Quarter, directly adjacent to the historic city centre.

Offering two-, three- and four-room apartments across twelve floors, the project will be connected to the Palace Quarter’s thermal energy storage facility and fitted with solar panels. The rental apartments will offer spacious balconies and range in size between 61 and 169 sq m, catering primarily to the mid-market segment.

Altera’s CEO, Jaap van der Bijl, says: “After we successfully developed and let 91 rental apartments in the adjacent Belvédère project, we are now adding 54 apartments from the Terrazzo project to our portfolio. Our new-build pipeline consists of over 1,700 homes which will be delivered in phases over the next few years. The projects are located in demographically strong areas in the Netherlands – including Amsterdam, The Hague, Leiden, Rotterdam, Utrecht and Uithoorn – and will ensure qualitative and sustainable growth of our portfolio.”

The Terrazzo project is located in ‘s-Hertogenbosch’s attractive Palace Quarter, next to the central railway station and at the foot of the Palace Bridge. Restaurants, cafés, shops and cinemas are all within walking distance, both in the Palace Quarter itself and in the neighbouring historic city centre. Terrazzo is also located right next to a Jumbo supermarket.

The project was developed by BV Ontwikkelingsmaatschappij Paleiskwartier – a public-private partnership between the municipality of ‘s-Hertogenbosch, VolkerWessels and NIBC Bank NV. Van de Ven Bouw & Ontwikkeling (part of VolkerWessels) is responsible for the realisation. Construction will start this month and completion is slated for mid-2022.