Construction of Rental Apartments - Investment Grant for Affordability
Investment grant in Vienna for affordable housing in new rental apartments. Non-repayable grant of up to €260/m² of usable floor space, applications accepted continuously.
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Grant criteria
Funding objective
Promotion of the construction of rental apartments with affordable rents through the provision of a non-repayable investment grant.
Eligible expenses
- Construction costs
- Land costs
Eligible to apply
- Companies
Funding requirements
- Combination with loan funding for rental apartment buildings and dormitories
- Positive evaluation of the project by the property advisory board or developer competition jury
Evaluation criteria
- Positive assessment by the property advisory board or the developer competition jury
Description
The investment subsidy "Construction of Rental Apartments – Investment Grant for Affordability" supports companies based in Vienna in the creation of affordable new rental housing. Developers can apply for a non-repayable grant within an ongoing submission period, provided the project has been positively evaluated beforehand by the Land Advisory Board or the Developer Competition Jury. A prerequisite for application is the simultaneous utilization of loan funding for rental apartment buildings and dormitories. This measure is specifically aimed at developers who construct residential buildings or dormitories with affordable rents while ensuring a transparent contribution to construction and land costs.
Construction and land costs are subsidized up to 260 euros per square meter of usable floor space. If no financial contribution is required from the developer, 260 euros/m² is possible; with an equity contribution of 60 euros/m² and main rents below 4.11 euros/m² (value adjustment until 31.12.2021), the grant is reduced to a maximum of 150 euros/m². There is no legal entitlement; allocation is made in accordance with the Vienna Housing Promotion and Residential Building Renovation Act (WWFSG 1989) as well as the New Construction Regulation 2007 (LGBl. 32/2018). The subsidy offers an attractive instrument to realize affordable housing in the federal capital and to meet social housing needs in the long term.
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