Riga's social housing capacity is set to increase with a new building providing 250 apartments, funded in part by the European Regional Development Fund.
The municipal company 'RÄ«gas nami' has signed an agreement with the Central Finance and Contracting Agency to secure 10 million euros in funding from the European Regional Development Fund (ERAF) for the construction of a new social housing building in Riga. This initiative aims to significantly enhance the local government's social housing stock and address the waiting list for residents in need of housing assistance.
The planned social housing project on Dzelzavas Street will feature approximately 250 apartments, with up to 10% of these units being adapted for individuals with mobility impairments. Each apartment will average around 30 square meters, with designated kitchen and bathroom areas to ensure a comfortable living environment. This development is seen as a crucial step in providing adequate housing for those in need within the community.
With total project costs estimated at 15.38 million euros, the funding structure includes a hefty contribution from ERAF, while 'RÄ«gas nami' will provide co-financing of 5.38 million euros. An upcoming public tender will be issued for the development of the multi-apartment building project, marking the next phase of this significant urban housing initiative.
