Corporations
DUWO focuses entirely on student housing. Experience has taught us that we cannot do this alone. Therefore, we are constantly on the lookout for opportunities to collaborate with other parties such as educational institutions and housing corporations. DUWO actively participates in a number of joint ventures, including Kences, the student housing knowledge centre and Kristal, an alliance of seven corporations. Experience has indicated that cooperation with housing corporations can take many different forms. We regularly invite other corporations to investigate opportunities for partnerships with the ultimate aim of reducing the severe shortage of student housing.
Each involved party can benefit from the collaboration. The information provided below describes the potential opportunities and it is interesting to note that a number of the opportunities have already been turned into reality. Between 2006 and 2010, DUWO has assigned itself the task of constructing 5,000 new units, renovating more than 500 units and taking over control of another 1,600 units.
Collaborative constructions
DUWO has a history of constructing student housing units rich in collaboration with associated corporations. A number of different types of agreement can be reached.
One such construction that has borne fruit in practice is that an associated corporation finances a new complex and consequently becomes the owner of the complex. DUWO then signs a management agreement with the partner corporation, which subsequently receives regular updates regarding the management as well as any desired management information and the rental profits. Using this construction, DUWO realised the Laakhaventoren in The Hague in collaboration with the Wassenaarse Bouwstichting, which is now home to 309 students. Laurentius, a housing corporation based in Breda, realised a 400-unit complex in Delft.
DUWO has also sold housing that was not destined for students and was able to use the book profit to realise uneconomic investments. As such Bergopwaarts, a housing corporation based in Deurne, acquired 130 single-family homes and DUWO reached an agreement with the Wooninvesteringsfonds (WIF) [Housing Investment Fund] for the sale of 175 single-family homes.
Another form of cooperation has been reached with Rochdale, based in Amsterdam. Together with DUWO, this corporation forms the DUWO Pro Student organisation, which is responsible for the construction of 1,100 units in Amsterdam. Further to this, plans are being considered for the construction of another 1.100 units. The corporations and DUWO are splitting the construction costs and DUWO will manage the units.
In The Hague, HaagWonen and DUWO have reached a cooperation agreement for the construction of 600 units destined for students and young adults. HaagWonen are financing and constructing the units while DUWO will play an important advisory role before assuming management of the units.
Plans are in advanced stages with Woongoed2000, based in Reuver, for the construction of 500 units in Delft and The Hague. Woongoed2000 will own the property while DUWO will be responsible for managing the development. This allows us to address the much discussed and desperately required matching of resources and responsibilities in the public housing sector. DUWO is keen to enter into cooperation with more corporations as there are still numerous projects that are in serious need of funding. Taking the time to investigate new constructions formulated around other conditions also often pays dividends.
Assuming control of existing units
Another productive form of collaboration is assuming control of the management of existing units. An increasing number of corporations that town student housing units are coming to realise that managing these units is a specialist field – one that they are more than pleased to place in the responsibility of DUWO. DUWO is responsible for managing student housing units owned by Stadgenoot, Rochdale, Vestia, Staedion and Woonbron. These corporations benefit from guaranteed rental income while avoiding the need to devote attention to the management of their buildings. Such a construction may concern long-term management constructions or the temporary rental of complexes due to be renovated. Such a construction is beneficial for the owner in the period leading up to renovation as the units remain occupied, the area stays inhabitable and due to the high rate of tenant turnover, the units are always quickly available when the owner needs to take the next step of the development plans. DUWO is also keen to find new partners for this construction in order to assist students in finding accommodation.
Consultancy
DUWO is also experienced in providing consultancy services for other corporations regarding a wide range of matters related to student housing. While student housing is a rewarding and worthwhile activity, it is also subject to certain financial and management risks, and DUWO is keen to share its wealth of knowledge with other corporations.
Further information
Corporations who would like to discuss available opportunities for collaboration with DUWO should contact DUWO director Jan Benschop on 015-2192200.