Rotterdam in development

31 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 ince 2009, vacancy in the office-space market has been a recurring theme in social discussions. The financial crisis revealed a structural surplus of office space, and the Municipality of Rotterdam has taken active steps to reduce this surplus. Because the municipality cannot tackle the problem of vacant offices on its own, in 2015 the municipality joined with market actors. They decided to tackle the issue, and to approach it together. The municipality and a variety of market actors have signed a covenant to that effect. The covenant sets out the partners’ ambitions and lays the foundation for a municipal approach. Although the market recovered after the covenant was signed, vacancy levels are still high in comparison with other cities, which highlights the importance of active management in vacancy reduction. For this reason, the covenant has been further expanded and it currently has around 60 signatures. The municipality’s main objective is to strengthen Rotterdam’s office market by improving the (economic) balance on the supply side. This will reinforce the position of the Rotterdam office market, which will have a positive influence on the image of Rotterdam as an investment location. To achieve this, the general quality of the supply of offices must be raised by investing in (re)development and by stimulating additional services in each different office area. In addition, the (structural) market surplus must be reduced by withdrawing square metres of office space from the market. Square metres can be withdrawn by transforming offices so that they fulfil another function. One example of office transformation can be seen on the Stadhuisplein, where the Hermes City Plaza building is being transformed for the Erasmus University College. Its new name will be Lucia. Once the transformation is complete, the building will offer space to 217 student flats on several floors and within the structure, as well as 11 restaurants and shops on the ground floor. A roof structure will be added to the existing building, with two extra storeys which will house another 46 homes. All studio flats will be fully furnished. An unusual feature of the new design is that the restaurant space at the front and rear of the site will boast a transparent façade, so it will be possible to stand on the Stadhuisplein, look through the building and see the street on the other side. Terraces will also be installed in this street, the Sint Luciastraat. These terraces will make this formerly shipping-focused street more vibrant and more a part of the centre, ensuring that the building not only provides homes, but also improves the liveability and attractiveness of the living environment in the surrounding streets. The entire building is expected to be completed early in 2018. TRANSFORMING OFFICE SPACE S