AFFORDABLE HOUSING SALZBURGER SPARKASSE

Promoter – Financial Intermediary

SALZBURGER SPARKASSE BANK AG

Location

• Austria

Description

Through the intermediary, the operation will support limited-profit housing development companies, commercial property companies and local authorities.

Additionality and Impact

The Project comprises the construction of some 1000 new social and affordable housing units, contributing to the promotion of Integrated Urban Development across Salzburg Federal State. The investment schemes will be part of well-defined integrated local urban development plans and will facilitate the development of sustainable communities, while contributing to the promotion of social mix and addressing the high demand for social housing in cities in the region. It will contribute to a more balanced local residential market along with a larger housing supply in cities across Salzburg Federal State, thereby addressing the existing need stemming from low and middle-income households. The EIB financing will tackle the market gap resulting from an insufficient affordable housing supply by offering a long maturity at attractive financing costs, needed to keep rent levels low.

Objectives

The aim is to support the construction of new social and affordable housing units in the region of Salzburg, Austria. It will include a 25% climate action and environmental sustainability (CAES) component.

Sector(s)

• Urban development - Construction

Proposed EIB finance (Approximate amount)

EUR 100 million

Total cost (Approximate amount)

EUR 200 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 - 16/07/2024