In the municipality of Dongen, construction work at the former office building at Middellaan 25 is in full swing. In the office building, 71 sustainable rental homes for the middle segment are currently being realised. The construction financing is hereby fully financed via Crowdrealestate, with the first phases already successfully closed.
The transformation project with a total financing volume of EUR 13.5 million will be financed through seven separate propositions. The propositions will be published successively, depending on the construction deadlines. The funds for the transformation will be held as a construction deposit in the notary's trust account. As well as the interest deposit during the construction period.
Demolition work on the interior of the former office building started at the end of April. Among other things, the contractors are removing all built-in materials and components in the building. From door to toilet bowl and from counter to ceiling tile. Demolition work on the second and third floors has already been completed and on the ground and first floors is expected to be completed next month.
Construction work on the installation and finishing of the 71 flats will then start in the fourth quarter of this year. The build-in and build-out phase is expected to take nine months. Expected completion will be in summer 2024.
The transformation project aims to create 71 flats in the middle segment. The rental price is approximately between €750 and €1,100 per month. Demand for flats in this middle segment is high and is expected to continue to grow. More than 1,700 rental candidates have already applied for one of the flats.
Currently, it is still possible to invest in Dongen East Wing (first floor) and Dongen West Wing (ground floor). The fifth phase of the project will follow at the end of September. More information on this will follow soon.
