Release date: 17 February 2023
Promoter – Financial Intermediary
HYPO NOE LANDESBANK FUER NIEDEROESTERREICH UND WIEN AGLocation
Description
The project will finance social and affordable housing units in the Austrian state of Lower Austria.
Additionality and Impact
The Project entails the construction of some 2,900 new social and affordable housing units, contributing to the promotion of Integrated Urban Development in the region of Lower Austria. The investment schemes will be part of well-defined integrated local urban development plans and facilitate the development of sustainable communities and contribute to the promotion of social mix addressing strong social housing demand in Lower Austria. It will also contribute to a more balanced local residential market with sufficient housing supply meeting existing need from low and middle income households. The EIB financing will tackle the market gap resulting from an insufficient affordable housing supply by offering financing at attractive costs with a long maturity that will ultimately lead to lower rent levels.
Objectives
Final beneficiaries of the EIB financing will be limited-profit housing development companies, commercial property companies and local authorities.
Sector(s)
- Urban development - Construction
Proposed EIB finance (Approximate amount)
EUR 195 million
Total cost (Approximate amount)
EUR 780 million
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 29/06/2023