Rotterdam in development

29 R O T T E R D A M I N O N T W I K K E L I N G | 2 0 1 8 How important is real estate transformation for the city? Transformation has been shown to be an effective tool for redeveloping obsolete properties to serve a different purpose. The transformation not only satisfies the rising demand for housing; it often has significant economic side-effects and increases the vibrancy of an area. Good recent examples of this would be the Student Hotel and the Admiralty. Despite these good examples, there are still more possibilities. The target for 2021 is to withdraw 350,000 m 2 of offices from the market and to upgrade a further 100,000. The challenge for shops is just as substantial, and the retail market is very dynamic. 100,000 m 2 are standing empty, of which a significant surface area is structural. Shops are often located at the base of buildings, and vacant premises at this level have a big impact on an area’s liveability and economic value. Because we see the opportunities for transformation in Rotterdam, we are encouraging market actors in the transformation process by supporting them in applying for permits and by providing knowledge and expertise and introducing them to the right people. The collaboration with and between market actors is crucial in this process. One example of this is the covenant for our office strategy. We see great opportunities for transformation, but this is not a challenge we can tackle on our own. The property owners, developers, architects and all the professionals who play a role in this process are taking the lead. With them, we intend to look into how we can breathe new life into areas, neighbourhoods and streets and be prepared for future demand and developments so we can make the city even more successful. We need the developers’ creativity, precisely in that inner-city renewal. Together with our partners, we want to use this covenant to design an area-specific approach to meet the challenge posed by transforming 350,000 m 2 of offices. Which areas will be developed in the coming years? In developing the policy, we determine which areas offer possibilities for transformation and which areas are less promising, which is why we intend to take a more area-specific approach in the coming years. The target of the office strategy is to strengthen the Rotterdam office market by improving the balance on the supply side. A surplus on the market can lead to structural vacancy, with potentially negative consequences for liveability in the surrounding area. This image of ‘vacancy’ has a strong influence on both the political administration and the residents of the city. In addition to a surplus, the Rotterdam office market is also characterised by an unequal distribution in the quality of the properties on offer. There will definitely still be room for additional high-quality office space in strong office locations at a later stage of the project. Retail transformation is mainly in line with the established retail memorandum, which sets out the Municipality of Rotterdam’s vision for the future of shops in the city. The municipality uses this memorandum as a guideline in decisions on retail questions. The municipality developed the retail memorandum’s vision of the future in consultation with shop owners’ associations, industry organisations and area committees. The difference between the future retail perspectives in different areas means that the municipality is also approaching these areas in a variety of ways. In areas where successful shops are likely to stay, due to development in the market, the municipality mainly stimulates and supports plans to improve the shopping district. In areas where a development in another direction seems more logical, the municipality aims to give retail premises another function through transformation. The transformation of business premises is still in its infancy, although we are making great progress in Merwe- Vierhavens near the Marconiplein, including the conversion of one of the Marconi towers into starter homes. How can the municipality help market actors? The Municipality of Rotterdam can help and support market actors in a variety of ways. We see opportunities in the city and we want to make it possible to take advantage of these opportunities, which is why our municipal real estate is available through www.pakjeruimte.nl. This resource also offers possibilities for transformation. But our transformation real estate team has a more important role to play in supporting market actors; the team is made up of Kim Nguyen (shops) and Esther Roth (offices). They are the point of contact within the municipality. A transformation special was organised on 26 October with and for market actors, and follow-up events will be organised in 2018 according to the market’s needs. The transformation conference on 7 December is another opportunity to gain further orientation, information and inspiration. People with an interest in this kind of event are of course very welcome.