Promoting residential construction
The objective behind the City of Frankfurt policy on residential construction is to enable all households in Frankfurt to enduringly, sufficiently and appropriately have access to dwellings that meet contemporary quality standards and are energy efficient.
The City has shouldered responsibility specifically for those Frankfurt households that are not able of their own volition to find adequate homes and therefore provides funding for residential construction with the goal of preserving and promoting the new construction of cheap rental properties for low-income tenants.
Moreover, at the end of 2008 two new urban promotion programs were introduced allowing for support for middle-income households wishing to build rental apartments and acquire new owner-occupied dwellings.
In accordance with the guidelines of the Frankfurt Program Promoting Social Rented Dwellings and on the basis of the Hessen Act to Promote New Residential Properties (HWoFG) as well as the state guidelines for the promotion of social rental accommodation, the construction of rental accommodation and the construction of rental accommodation for middle-income occupants, both building loans and subsidies can be approved for the creation of new rental accommodation in multi-family dwellings.
Through the Frankfurt Program for the Construction of Rental Accommodation for Families and Senior Citizens the promotion agency awards building loans for the construction of family-friendly and communally-used, duly scaled and barrier-free rented apartments that are highly energy efficient.
Plans foresee enabling young families in Frankfurt also to become property owners. To this end a home ownership program has been launched for new dwellings - the Frankfurt Program to Promote New Areas for Owner-Occupied Dwellings - and another for the acquisition of existing dwellings - Frankfurt Program to Promote Areas for Existing Owner-Occupied Dwellings.
The Frankfurt Program to Modernize the Energy Efficiency of Existing Residential Properties and Improve Residential Districts and the Urban Ambience focuses on developing residential properties going forwards.
The Frankfurt Program Promoting the Conversion of Vacant Premises for Creative Purposes is intended to contribute to upgrading the buildings and districts with vacant ground-floor premises and thus to improve the urban quality of life.
The Frankfurt Program for the Creation of Student Accommodation adds another tool to the Frankfurt Program Promoting Residential Construction and is intended to generate grants and loans for the creation of new housing for students in Frankfurt.