Zurich’s city council has decided to buy a site in the Seebach district with 12 apartment buildings and 64 flats for 78.22 million francs. The city won the site in a two-stage bidding process after a private owner put two plots up for sale. The purchase is meant to help Zurich reach its target that one third of rental flats in the city are non-profit by 2050.
What the city is buying
The site covers more than 10,000 square metres. It holds 12 apartment buildings with a total of 64 flats, mostly with three and four rooms, as well as a commercial unit. Under the city’s rental regulations, the development provides a home for at least 156 people. The buildings date from 1952 and are, for their age, mostly in good condition.
| Item | Figure |
|---|---|
| Purchase price | 78.22 million francs |
| Site area | more than 10,000 m² |
| Apartment buildings | 12 |
| Flats | 64 |
| Minimum residents | 156 |
| Year built | 1952 |
Why the city is doing it
The owner decided to sell two plots in Seebach. The city submitted a purchase offer for both and was awarded one of them. The council approved the acquisition as a contribution to the city’s one-third target, under which one third of rental flats in Zurich should be non-profit by 2050. The site also has room to grow: unused reserves in permitted density would allow at least twice as much living space as today in future.
What happens next
The transfer of ownership, meaning the entry in the land register, will take place in the coming weeks. The exact address will only be published after that. The current tenants will then be welcomed as new municipal tenants, and the property will be gradually integrated into the city’s housing stock.