Developers are leaving the Reitdieptoren construction project. After years of preparation, we are looking for a new investor for a plan with 81 apartments in Groningen

After years of preparation, they drop out because there is too little movement in the project. The intention was to start construction of a residential tower with 81 rental apartments in the private sector in 2023. Space was also reserved for a catering pavilion. The seventeen-storey building had to be built at the festival location on the corner of Reitdiephaven and Hoogerweg.

Last year, Reitdiep BV, a collaboration between Waardevast BV, Hil BV and Van der Heijden Projectontwikkeling, commissioned Plegt Vos to continue work on the apartment building. The three parties held drop-in evenings for potential buyers. The plan was presented with great enthusiasm in May 2023. Interested parties were welcomed to the ‘Curacao of the North’.

Investor wanted

The flag is hanging very differently at the moment. A developer confirms that the three companies have withdrawn from the project. They had wanted to start construction earlier and transferred the shares to Plegt Vos.

Commercial director Jordan Lingsma of Plegt Vos explains that he is looking for a new investor who wants to invest in the construction of the Reitdieptoren. The plans show that there will be 25 two-room, 50 three-room and 6 four-room apartments here.

Lingsma shows understanding for the departure of the three developers who are mainly active in the south of the Netherlands. “They have been working here for eight years and prefer to concentrate on construction projects closer to home. It’s different for us. Groningen is in our backyard.”

Plegt Vos acknowledges that a lot still needs to be done to revive the project. “We are going to give the project a positive momentum again. We are doing that step by step.”

Encroachment on marina

With the new environmental law in hand, Plegt Vos wants to guide the construction project through all kinds of procedures. “There are objections from the neighborhood. We are going to reassess that,” says Lingsma. As early as 2020, a consultancy firm investigated the consequences of construction for the environment. Local residents believe that the residential tower affects the appearance of the marina and fear, among other things, traffic nuisance. The port would suffer damage from wind and shadow nuisance as a result of the residential tower. The consultancy firm confirmed this.

‘Press the accelerator’

The fact that Plegt Vos is on his own at the moment is not ideal, but Lingsma keeps his courage up. “Sometimes it is better to have one captain on the ship. Then you can really press the accelerator.”

He acknowledges that quite a few projects are postponed due to economic circumstances. Increased construction costs, higher interest rates, but also limited construction capacity are stagnating construction. “Hopefully housing construction will pick up again soon. We know the market well in this part of the Netherlands. If all goes well, we can start in 2025,” said an optimistic Lingsma.