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Innsbruck to build student residences to calm the housing market

Innsbruck to build student residences to calm the housing market

The centrepiece of the new development is an 11-story tower, capable of housing 130 people

Yesterday, the city of Innsbruck in Austria announced a new project to construct new affordable housing in the next four years in an attempt of curbing the volatile housing market in the city. The development will be handled by Neue Heimat Tirol – the biggest nonprofit housing developer in the area with around 8,000 units.

The multiphase housing initiative of Neue Heimat Tirol will see the construction of 550 apartments in the span of several years, with this year being the starting line for phase 3. Today, construction on a massive 11-story apartment tower with 38 affordable apartments for students and another 131 for students and teachers.

Housing, housing and more housing

The centrepiece of the new housing push will be an 11-story tower with 38 two- and three-room apartments, that is set to finish in 2023. The building will have a large communal kitchen on the ground floor that will be available to both students and faculty members.

The plan calls for an additional six buildings filling out the complex and large green spaces between buildings. Furthermore, the new housing will be equipped with district heating and a photovoltaic system making it climate-friendly and energy-efficient.

The student/teacher building, on the other hand, is set to be complete by 2025 and it will be capable of accommodating 166 people in its 133 one to two-bedroom apartments. Every floor will have a communal kitchen.

Additionally, the ground floor will have shop areas and underground parking, as the building is designed to fit in the surrounding area rather than detract from it. Some of the priority concepts behind it are sustainability, density and livability.

As the second building will border a railway viaduct, designers have planned for a transparent soundproof wall to help keep noise pollution to a minimum.

Calming a heated housing market

Like many cities in Austria, Innsbruck is experiencing a housing shortage and local authorities want to take decisive steps to calm incessant demand. At the same time, they want to ensure that the residents and students coming to Innsbruck have a decent place to live.

City Councilor for Housing Beate Palfrader explained that the finished apartments’ rent will be capped at 400 euros per person/ per month to keep them affordable.

Mayor Georg Willi explained that the more student housing local authorities can add, the more they can contribute to helping to defuse the overheated housing market and bring living in Innsbruck back to normal.

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