Impact in Alkmaar: Bouwinvest acquires 167 rental apartments in The Future

November 2, 2026

Bouwinvest has acquired 167 rental apartments from Ontwikkelcombinatie The Future for the Dutch Impact Mandate, which it manages on behalf of bpfBOUW. The investment delivers direct impact: three quarters of the apartments will be let below the national mid-rent ceiling at the start of letting. The new-build apartments will be delivered by Ter Steege Bouw Vastgoed as part of Project The Future, a development of 437 apartments in total next to Alkmaar Noord station. Construction starts in November 2026, with completion scheduled for mid-2029.

Bouwinvest realises impact
Under the Dutch Impact Mandate, impact is a precondition for every investment. Each project must demonstrably contribute to one of two goals: more mid-rent housing for middle-income households, or construction methods that emit less CO2. Bouwinvest tests this in advance against hard, measurable criteria, such as a minimum share of mid-rent homes at the start of letting. Fixed requirements for energy consumption and climate resilience also apply.

“Pension funds want their investments to deliver not only returns, but also a contribution to societal challenges,” said Maya Savelkoul, Fund Manager at Bouwinvest. “Real estate is a logical choice for this, because the impact is tangible. For pension funds, we therefore manage two impact products, the Dutch Senior Living Impact Fund and the Dutch Impact Mandate, in which we also make that impact measurable. By investing pension capital in new homes such as those in The Future, our clients are helping to reduce the housing shortage in the Netherlands.”

Mid-rent, social rent and owner-occupied homes in a new neighborhood
Of the 167 apartments, 126 will be let in the mid-rent segment upon completion, until approximately €1,350 per month including the new-build surcharge (2026 price level). This adds 126 homes for households that earn too much for social housing, but for whom the free-market sector is out of reach.

The Future comprises 437 apartments in total: in addition to the 167 rental apartments being acquired by Bouwinvest, there will be 143 social rental apartments owned by housing association Kennemer Wonen and 127 owner-occupied apartments. The housing association’s building will also include a community space.

The building will be entirely gas-free and will have an A+++ energy label. Heating and cooling will be provided by an aquifer thermal energy storage system (ATES). The building complies with the CRREM 1.5-degree pathway for energy intensity and with the EU Taxonomy. The climate risk scan shows no high risks, and the construction site will be registered with Bewuste Bouwers.

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