Acquisition of an under-utilized site within 150 meters from one of the busiest tube stations in Stockholm. Development of 357 student apartments for rent, a youth center and a range of social and amenity areas.
Creation of highly energy efficient buildings with heated air system rather than a traditional radiator-based system. In September 2021, the project was announced as the winner of the 2021 Offsite Awards. The Offsite Awards is dedicated to celebrating projects that are at the forefront of the industry in terms of innovation and expertise.
The property is located in a residential area close to Kista tube station, Kista Center and the Kista Galleria – with its 185 stores and range of services, entertainment and restaurants it has been the most visited mall in Stockholm with ca. 18 million customers annually. Ca. 19,000 people get off the metro in Kista every day, with Stockholm Central Station only 15 minutes away by commuter train and metro.
Kista is a leading ICT cluster in northern Europe as well as a vibrant student hub where both Stockholm University and The Royal Institute of Technology have campuses with over 7,000 students.
The property was acquired in March 2018 in a joint venture with a global institutional investor, with focus on developing and operating next generation housing in the Nordic region. The JV targeted in excess of 2,000 apartments with strong focus on ESG.