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Vogewosi starts new construction offensive: 600 apartments planned by 2027!
Vorarlberg's VOGEWOSI is planning around 600 new apartments by 2027 with investments of 160 million euros to create affordable living space.
Vogewosi starts new construction offensive: 600 apartments planned by 2027!
The Vogewosi begins an impressive turnaround in construction activity in Vorarlberg! After difficult years characterized by Corona, inflation and rising interest rates, the building council is turning the machines back on. Managing director Hans-Peter Lorenz announced that there are currently around 600 new apartments in the pipeline, scheduled for completion between 2025 and 2027. These new buildings entail investments of around 160 million euros, a positive development that is supported by the strong demand from the communities and the state's efficient housing subsidies, as the chairman of the supervisory board Karlheinz Rüdisser reported.
New residential projects and renovations
The construction of affordable housing should be promoted, particularly in the Feldkirch region. In 2023, Vogewosi has already managed 17,200 apartments in 61 of the 96 Vorarlberg municipalities, with the balance sheet total growing to an impressive 910.8 million euros. Despite the challenging market situation, rental prices remain stable at an average of 5.62 euros per square meter. However, it is becoming increasingly difficult to find tenants for older apartments. That is why extensive renovation projects are planned for the approximately 80-year-old residential complexes in order to increase the attractiveness of the living space, as Lorenz in Vogewosi explained.
Vogewosi sees great opportunities in the redesign of old residential complexes in order to meet current needs and at the same time create financially viable living space. This is in line with the non-profit housing association's goal of providing affordable housing for everyone. These measures are all the more important as construction and land costs have risen dramatically in recent years, which Lorenz describes as a “precarious situation” that can be mitigated by the high proportion of financing from public money and the Vogewosi's own resources in order to promote the creation of more housing.