Comprehensive Renovation of Apartment Buildings and Dormitories - Subsidized Loans
Promotional loan for comprehensive renovation of multi-family houses and dormitories in Vienna, including standard upgrades and the creation of new apartments. Applications possible from 01.03.2024 until further notice; supplementary annuity and ongoing subsidies are available.
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Grant criteria
Funding objective
Funding of comprehensive renovation measures for multi-family houses and dormitories in Vienna, as well as upgrading apartment standards and the construction of new residential units through extensions, additions, and conversions.
Eligible to apply
- Individuals
- Companies
- Cooperatives
- Non-profit Organizations
- Public Institutions
Funding requirements
- ["The building permit must be at least 20 years old at the time of application.", "The existence of the property must be compatible with the land use and development plan or be in the public interest.", "The building must be a residential building, i.e., at least half of the total usable area must serve residential purposes after renovation, and at least half of the apartments must have a usable area of at least 22 m² and at most 150 m².", "The funding application must be submitted before the measures are carried out.", "The economic viability of the renovation must be ensured in relation to the general condition of the building, construction costs, and the expected level of rental income.", "Every 2nd, 6th, 10th, 14th, etc., newly created or vacancy-free apartment applied for renovation must be offered to the City of Vienna for allocation.", "During the funding period, rental is only permitted on a cost-recovery basis.", "For any loans taken,
Documents required for application
- Land register excerpt (not older than 3 months)
- Topography (rent list, owner list)
- (required) power(s) of attorney
- Plans
- Construction contracts
- Cost estimates
Description
The funding initiative “Comprehensive Renovation of Multi-Apartment Buildings and Dormitories” by the City of Vienna supports owners and developers in the fundamental modernization and expansion of their existing buildings. Through a low-interest loan, measures to upgrade the standards of existing apartments as well as additions, extensions, and conversions to create additional residential units can be financed. Applications can be submitted indefinitely starting from March 1, 2024. In addition to the loan, complementary annuity and ongoing subsidies are available to cover the remaining costs after deducting all funding. Eligible applicants include private individuals, companies, cooperatives, non-profit organizations, and public institutions with projects in Vienna whose building permits are at least 20 years old and that aim for the long-term economic viability of the renovation.
Key requirements include the compatibility of the property with the zoning and development plan as well as a minimum 50% residential use, with apartment sizes ranging between 22 m² and 150 m². A funding application must be submitted before the commencement of the comprehensive measures. As part of the allocation, every second, sixth, tenth, fourteenth, etc., renovated or newly created apartment must be offered to the City of Vienna, while rental during the funding period must be on a cost-covering basis. Registration of a lien and prohibition of disposal in the land register in favor of the State of Vienna is mandatory for any loan components. Diplomatic service buildings or properties with extraterritorial usage rights are excluded. The following documents must be attached: current land register excerpt, topography (rent and owner list), required powers of attorney, as well as plans, construction orders, and cost estimates.