Atenor has obtained a building permit for BakerStreet II, a 280-unit residential development in Budapest's 11th district. The project will comprise three buildings with approximately 26,700 sqm of residential space, arranged around a landscaped courtyard with green areas and shared amenities.
Originally envisaged as an office development, the project was reassessed following shifts in Budapest's market conditions and Atenor's broader focus on 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 other residential development in the same district, located near Lake Kána. 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, Lake 11 Home&Park, comprising 265 apartments, has already been delivered, while the second phase, Lake 11 Flow, comprising 146 apartments, launched construction and commercialisation in March 2026. As of early September 2026, pre-sales for that phase had exceeded 30%.
Atenor is listed on Euronext Brussels and develops mixed-use urban projects across an international portfolio.
