Zurich: Municipal foundations buy apartments in central locations
Eight buildings with 62 apartments in Wiedikon will in future be owned by two foundations of the City of Zurich and will be subject to the city's rental model.
The City of Zurich Retirement Homes Foundation (SAW) and the Einfach Wohnen Foundation (SEW) have acquired eight properties with 62 apartments and five commercial units on the so-called Wyss site in a central location in Zurich. This is the first joint purchase by the two foundations; the properties are located in Zurich-Wiedikon on Birmensdorferstrasse, Talwiesenstrasse and Riedmattstrasse. There are five residential buildings, two mixed-use properties (residential and commercial) and one commercial property. The buildings date from the early 20th century and the 1960s and were partially renovated in the 1980s.
In future, the existing tenancies will be subject to the City of Zurich's "cost rent" model. In the coming years, SAW and SEW are jointly planning the development of the site. (aw)
