Housing for every budget

Creating affordable housing remains challenging, but it is a goal to which AM is fully committed. Mark: ‘It fits perfectly with our ambition. We develop social and inclusive communities. Communities where students, first-time buyers, people on lower incomes and senior citizens can all live. Affordable housing does not mean compromising on quality. We do not believe in scaling back plans and compromising on liveability and quality.’

Eighty percent of the rental properties in the Highlight residential tower and the owner-occupied flats in Lumen are in the lower segment. This proportion is considerably higher than the nationally mandated standard of two-thirds. But how do you achieve that in a time of rising construction costs, complex regulations and appeal procedures? Jeffrey explains that buyers at Lumen were given the opportunity to purchase through KoopStart: "This scheme allows buyers to purchase a home at a reduced price. The affordability limit set for 2025 was €405.000. Suppose the market value of a home is €500.000. Then we give a “discount” so that the purchase price remains below the affordability threshold. We do this through a leasehold construction.‘ Mark: ’This makes homes more accessible to a wider audience, such as first-time buyers, professionals and senior citizens. These are target groups that we have deliberately chosen for Lightyards." There was a lot of interest in this scheme, says Jeffrey: ‘There were more than 700 interested parties for the 28 owner-occupied homes. A lottery at the notary's office determined who was eligible. That way, everyone had an equal chance.’

In addition to a scheme such as this, a shorter bridging period for the buyer also contributes to the affordability of the homes. Mark: ‘Normally, buyers have a long period of double costs. They often finance these costs in their mortgage or pay them from their own resources. In both cases, this has an effect on the total housing costs and therefore also directly on the affordability of the homes.’ Jeffrey explains how they are now reducing these double costs at Lumen. Jeffrey: "Lightyards consists of both rental and owner-occupied flats. The 192 rental flats from Highlight were sold at an early stage to investor Investe, which will rent out the homes. This meant that the pre-sale standard for the entire plan was met and we could start construction. This meant that we could push the sale of the owner-occupied homes in Lumen closer to completion, reducing the length of time buyers would have to pay double costs."

A logical factor when it comes to affordability is the size of the home. The more compact, the more affordable the home. However, this certainly does not have to be at the expense of living pleasure and quality of life. Highlight comprises 86 compact rental apartments of up to 56 m², combined with high-quality communal areas. Mark: "The homes have a communal roof terrace at a height of 75 metres with spectacular views over the city, a communal garden, a co-working space, a games room, a laundry bar where people can do their laundry and a cosy “living room”. This certainly benefits affordability and quality of life. Thanks to these facilities, we don't need to create separate outdoor spaces, workspaces or laundry rooms in the apartments themselves. It also encourages contact with fellow residents. You bump into each other when you put your laundry in the machine at the same time or spend a day working in the co-working space. This makes it easier to socialise. We see this as an important addition to the quality of life."

The Friends living concept has been chosen for 106 Highlight apartments. In a Friends home, two residents share the living room and kitchen, while each has their own bedroom and bathroom. Rent and energy costs are also shared, making city living more affordable. An ideal concept for friends or family members who want to share a rental home. Jeffrey: "The supply of homes in the mid-rent sector in Eindhoven has declined significantly. Young professionals often earn too much for social housing, but not enough to buy. Sometimes they still have student debt or do not have a partner, which makes it more difficult to obtain a mortgage. A housing concept such as Friends is one of the affordable solutions.

So AM uses a mix of instruments to realise affordable housing. We always look for the right approach for each project. Jeffrey: “We always analyse the specific market in the area. What are the wishes of the target groups, what is the DNA of the area and the development? By working from that essence, we can make the right choices. Are we going for KoopStart, certain housing concepts such as Friends, compact homes with high-quality communal areas, or a well-considered mix of these options?” In addition, AM considers it only natural to make some concessions itself in order to keep homes affordable. Mark: ‘With the social housing and affordable owner-occupied homes we develop, we consciously opt for a lower financial return. This way, we make housing accessible to a broader group. We develop for everyone.’