Rotterdam-based developer Red Company and Pan-European urban real estate firm Redevco have form a new joint venture to develop a residential tower, The BaanTower, in Rotterdam.
The striking 159m high residential tower, developed by Red Company and designed by Powerhouse Company, will be one of Rotterdam’s most sustainable apartment buildings with reduced energy demand served by renewable sources, an innovative thermal energy storage solution, and a green roof and roof terrace to encourage biodiversity.
Situated in the heart of the city’s vibrant Baan Quarter, the future landmark will have 427 rental apartments, of which 30% are in the mid-market segment.
Redevco and Red Company share the belief that mixed-use and residential developments play a key role in the densification of cities, ensuring a more sustainable, social, and inclusive society of which The BaanTower is a perfect example.
Herman Jan Faber, Head of Business Development at Redevco: “We believe that cities should make a positive contribution to the health & wellbeing of both people and planet. One of the areas in which we can help make that happen is through building sustainable, high-quality homes. The collaboration with Red Company fits this ambition.”
Nanne de Ru, founder of Red Company: “From the start, our dream has been to design, develop, build, and invest in The BaanTower. With this collaboration, we are making that dream a reality. It will allow us to ensure the long-term quality of the rental housing while at the same time achieving our ambition in terms of sustainability and high-quality design.”
Construction of The BaanTower is expected to commence in September 2023 with a delivery scheduled for 2026. ABN AMRO is the financing bank for this joint venture.
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