Zurich: City buys 18 apartments for CHF 10.5 million
The property was offered to the city for sale «to secure affordable housing».
The City of Zurich has acquired a residential property in Affoltern. The purchase price for the property with 18 apartments is CHF 10.5 million. In May last year, the city was asked by the real estate company Forster & Taddei Immobilien AG whether it was interested in acquiring the property. «The sellers wanted a direct sale to the city in order to secure the affordable living space and ensure socially responsible treatment of tenants in the future,» the city writes in a press release. The three-storey apartment building stands on a plot of around 1,500 square meters and was built in 1969. Adjacent plots already belong to the city. «This strategic consolidation enables coordinated and sustainable structural development,» says the city. In the event of a future redevelopment of the adjacent municipal properties, the structural potential would allow the living space to be doubled.
