International developer, investment and property manager Greystar Real Estate has purchased a development site in Utrecht, on behalf of the OurDomain platform it manages in the Netherlands.
The development site is part of the Merwedekanaalzone urban renewal area, a large inner-city redevelopment zone. The plot comprises approximately 37,000 m2 and it is located in Europalaan 30 and 34.
The Utrecht municipality and six private land owners, including Greystar, will work together in Merwede to develop 6,000-10,000 new homes for a variety of target groups, as well as commercial and social facilities.
OurDomain Utrecht Merwede, which will become a high-quality residential complex with different kinds of rental apartments plus amenities, is expected to become operational by the end of 2023.