They main conditions of the tender were the offer of a public loan of € 800/m² with a payback period of 10 to 15 years and land designated for property construction, mainly in the Seestadt Aspern, for a fixed price of € 235/m². The bidders were asked to supply their own land for the proposed property construction and they had to accept rental regulations. Two possible rental schemes could be chosen from: One with a monthly rent of € 6.10/m² and a “tenant contribution” of € 150/m² and another with a monthly rent of € 4.75/m² and a “tenant contribution” of € 500/m².
These regulations are valid for the first ten years or, for first-time tenants, for the whole tenancy. The public tender was open from March 22nd to April 5th and six consortia were selected. They provided the basis for constructing about 3,250 flats and the City of Vienna offered land for around 3,000 flats and loans of over € 250 million. In March 2012 the first projects where evaluated by an advisory board and the first flats were completed by the end of 2014. Between 2014 and 2017, around 4,000 apartments were constructed within the “Vienna Housing Construction Initiative”.
