‘This will only work with partners who eat complexity for breakfast’

A conversation with Dennis van de Ven and Anne van Kralingen, G&S&.

The local authority of Utrecht wants to build a district with green and healthy buildings near Central Station. Wonderwoods, with its vertical forest, epitomises that. Dennis van de Ven and Anne van Kralingen of property developer G&S& talk about this trendsetting project and how it was put together.  

The unique character of Wonderwoods is obvious as soon as you see the place. On the way to a floor still under construction where the interview takes place, we meet a group of abseilers. Secured with ropes, they take care of the greenery in the countless plant containers on the façades and roofs. The two Wonderwoods buildings will soon literally go green with 300 trees and 75,000 plants. ‘Inspired by the vegetation on the hills around Utrecht, the greenery equals one hectare of forest’, relates Dennis van de Ven from developer G&S&. ‘We’re bringing that back in the city. That makes this project very special. Wonderwoods helps to prevent water stress and to boost biodiversity.’

During construction, they really had to rack their brains about all that greenery. Van de Ven: ‘You need to organise the water balance such that the greenery takes hold and grows to become healthy. You also need to have a good plan to maintain it. This is the first time that we devised that on this scale.’ Anne van Kralingen, who coordinates the development of the project for G&S&, tells us that part of the planting was done early on. ‘The trees were planted three years ago. Their roots can’t really go deep; they need to grow more horizontally. That takes time.’

Great interest

At the time of our interview, the two Wonderwoods buildings are close to being completed and occupied. Designed by MVSA architect Roberto Meyer, the first building of 70 meters is due for completion in July 2024. The building of 104 metres designed by Stefano Boeri Architetti will be ready in September. Wonderwoods is a mixed-use project. It combines living, working and recreation, Van de Ven explains. The building by MVSA has flats and offices. It will also have shops and an ultramodern museum measuring 3,000 square metres. The interactive digital art experience offered there was created by teamLab, a Japanese collective that has been causing a furore in Asia. The building by Stefano Boeri will be a residential tower block surrounded by greenery. The ground floor will house restaurants and cafés, a small supermarket and a health club. The seventh floor will have a roof park for residents and visitors.

Healthy living

Wonderwoods is pleased with the great interest from people in the Netherlands and beyond. The Dutch example of a ‘vertical forest’ – a term coined by Boeri – has been widely covered by the media. With all that exposure, the project has been on the radar of many a buyer and renter, says Van de Ven: ‘Practically all the flats have been sold, except for a couple of penthouses. The rental units and shops are also nearly full.’ Van Kralingen says the big draw for buyers and renters is the prospect of healthy living. The lush greenery around, on and inside the buildings helps to create a healthy environment, but that’s not all, she tells us. ‘Our building will also house a caterer that provides healthy food and a health club where people can exercise. All aspects of sustainable living come together here. That appeals to a diverse target group, from young first-time buyers to pensioners.’

It’s not only the green concept that has made the project a challenge for G&S&. Its progressive mixed use has also been quite a task for the developer. Van Kralingen: ‘We have to work with many more target groups than usual: residents, businesses and even a museum.’ That mixed use calls for a special kind of partner too, finds Van de Ven. ‘It will only work with partners who eat complexity for breakfast: it’s more difficult, and the risks are harder to estimate because of the many different functions. They need to understand that living boosts working and that those two things have to be carefully coordinated. An advantage for us was that both the housing fund and the office fund of ASR came on board at an early stage as investors.’

Span

Van de Ven also has good things to say about the part played by BNP Paribas. He also sees the bank as an example of a partner that’s not afraid of a complicated project. ‘They understood the concept of the building and how you could sell that.’ The bank has served as a financial adviser in this case. ‘It’s been a pleasure working with them to hammer out the finances. The organisation has a great span. BNP Paribas is an international player with the right connections. They put us in contact with the right partners.’

BNP Paribas Real Estate was part of the team that G&S& assembled in 2016 for Utrecht’s Healthy Urban Quarter tender. That included the request for what is now Wonderwoods. The plan was right up G&S&’s alley, which is known for its appetite for complex projects. The contract was quite attractive, says Sake Pleiter, Director of Transactions & Consulting at BNP Paribas. That was due to the central location and large scale of the project. ‘But what we and G&S& liked the most was the local authority’s high level of aspiration regarding quality, sustainability and health. So we really went for it, and the result is plain to see: Wonderwoods is leading the way in more sustainable living and building in the city. That will become even more apparent by all the greenery on the outside.’

Part of BNP Paribas Real Estate’s advice to G&S& was about the project’s commercial feasibility. Pleiter: ‘We were responsible for underpinning the financial parameters. What rent and sales levels can you expect? What kind of renters and buyers are there in the market? Is it viable? That’s how we found out that the high quality also opened up avenues to tap higher rent segments in the office property market.’

Setbacks

Wonderwoods is on to a good thing, thinks Pleiter. The project fits in with a move to more sustainable property. ‘And that’s gaining traction, especially in the higher segments. Now the trick is to extend that to other segments where the investments are not as high. I think that such a visibly sustainable project as Wonderwoods can spur that on. If there’s supply, that will also create more demand.’

The result fills Van de Ven, Van Kralingen and Pleiter with pride, but they are glad that construction is nearing completion. Pleiter: ‘It really is a complex project with difficult structures. It has also been a challenge to keep the building costs under control. The lesson I learnt: don’t despair, just keep going. It also helps that we have a lasting relationship.’ Van de Ven says that even though BNP Paribas feels like a big organisation, they have short lines of communication. ‘You can talk about things in an open and fair atmosphere, even if they are not going well. It’s great to have a vision, but to make that a reality you need partners on the way who can help you overcome setbacks.’