The foundation stone for 100 new council apartments was laid in Leipzig on Thursday. The municipal Leipziger Wohnungs- und Baugesellschaft (LWB) wants to bring the two- to six-room apartments to the market for a basic rent of 6.50 euros per square meter, as the company announced. The LWB is receiving a subsidy of 5.1 million euros from the Free State of Saxony.
According to the Saxon Ministry of Regional Development, the new build will cost around 28.1 million euros. The apartments are being built on the former site of a 16-storey building that was demolished in 2003.
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