Atenor has obtained a building permit for BakerStreet II, a 280-unit residential development in Budapest's 11th district. The project will comprise 280 apartments across three buildings, representing approximately 26,700 sqm of residential space. Located near the Danube and university faculties, it is designed around a landscaped courtyard with green areas and shared amenities.
The permit marks a significant step in the repositioning of the site, which was initially planned as an office development before being reassessed in response to changing market conditions in Budapest and Atenor's shift in strategic focus towards residential development. Pre-sales and construction are expected to begin in Q1 2027, with completion anticipated in Q2 2029.
"Budapest's 11th district has become an increasingly competitive residential market in recent years. In response, Atenor is focusing on a higher-quality and differentiated product, designed around evolving expectations for liveability, design and connectivity. BakerStreet II, together with Lake 11, strengthens our residential offer in this well-connected and dynamic part of Budapest," said János Martin, Country Director Hungary at Atenor.
BakerStreet II complements Lake 11, Atenor's residential development near Lake Kána in the same district. Lake 11 is being developed in phases and is expected to comprise close to 900 apartments and approximately 2,300 sqm of commercial space. The first phase, Lake11 Home&Park, comprising 265 apartments, has already been delivered. In March 2026, Atenor launched construction and commercialisation of the second phase, Lake 11 Flow, comprising 146 apartments, with pre-sales having reached more than 30% as of 3 September 2026.
Atenor is an international real estate developer listed on Euronext Brussels, developing mixed-use urban projects across residential, office, retail and public space uses.
