AFFORDABLE HOUSING TIROLER SPARKASSE

Promoter – Financial Intermediary

TIROLER SPARKASSE BANKAKTIENGESELLSCHAFT INNSBRUCK

Location

• Austria

Description

The operation will finance new social and affordable housing units in the Austrian State of Tirol. It will include a 25% climate action and environmental sustainability (CAES) component.

Additionality and Impact

The Project comprises the construction of some 750 new social and affordable housing units, contributing to the promotion of Integrated Urban Development across the Tyrol 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 Tyrol 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

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 75 million

Total cost (Approximate amount)

EUR 150 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 - 24/07/2024