Wiener Wohnen Stadtteilsanierung

Promoter – Financial Intermediary

Stadt Wien – Wiener Wohnen :The promoter is Vienna’s social housing vehicle. As probably Europe’s largest landlord, Wiener Wohnen manages 2 000 buildings comprising 220 000 individual flats spread across the city. Its mission is to provide rental low-cost housing of adequate standard for low-income households qualifying for support

Location

• Austria

Description

The present operation concerns the financing of the extensive rehabilitation and upgrading programme of the rental social housing stock of Wiener Wohnen to bring it up to contemporary housing quality standards. The improvement measures will lead to an increase in the building value, a reduction in energy use and emissions and to better living and health conditions for the tenants.  Furthermore it will help to transform neighbourhoods characterised by deprivation and dilapidation into more sustainable urban communities.

Objectives

The proposed operation will finance the rehabilitation of 14,000 of the 30,000 units that still require upgrading to acceptable standards, allowing the promoter to invest some EUR 100 million per year.

Sector(s)

• Urban development

Proposed EIB finance (Approximate amount)

EUR 210 million

Total cost (Approximate amount)

EUR 420 million

Environmental aspects

Compliance with the EU environmental directives and national laws shall be ensured.  Given the scale and nature of the sub-projects – modernising, rehabilitation of the social housing stock, upgrading of associated urban infrastructure – there is no need for an EIA.

Procurement

The promoter, the City of Vienna’s housing company, will be required by the Bank to ensure that contracts for the implementation of the projects have been/shall be tendered in accordance with the relevant applicable EU procurement legislation with publication of tender notices in the EU Official Journal as and where appropriate.

Status

Signed - 17/06/2008