PATRIZIA has launched a joint venture aimed at repositioning obsolete offices into affordable housing across Benelux. The JV is the third such programme undertaken by the manager, following partnerships in the United Kingdom and Ireland, under its Sustainable Communities scheme.

Along with Revive Fund Management, a specialist in urban regeneration and brownfield development, PATRIZIA will invest €75 million to create around 1,000 affordable housing units for lower to middle-income households in the region. The JV will focus on the conversion of depleted and obsolete office buildings into build-to-sell multi-family homes to help address the severe shortage of good quality housing in locations across the Benelux, where housing affordability is an acute issue.

All the homes developed by the platform will be targeting an EPC “A” rating and a zero-operational carbon footprint, as well as ambitious embodied carbon targets. Each development will also have ecological ini