Germany's new €300M plan turns empty offices into affordable homes
A new government scheme will help turn empty commercial buildings into homes. Federal Housing Minister Verena Hubertz announced the 'From Commercial to Residential' program on Wednesday. It offers financial support to investors who convert heated business spaces into flats. The initiative will launch this summer, with applications opening on 1 July. Investors can apply for grants before construction even starts. Each converted residential unit may receive up to €30,000, with a company maximum of €300,000.
The €300 million fund comes from the government's special assets. Projects must create at least one new apartment to qualify. Climate-friendly renovations will take priority in the selection process. Full details of the scheme will be published in the Federal Law Gazette on Thursday. The grants do not need to be repaid, making the offer more attractive to potential developers.
The program targets unused commercial properties with existing heating systems. Successful applicants will receive direct financial support. Official rules and application forms will be available from next month.
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