New approach to housing development in Reykjavík
Mayor Heiða Björg Hilmisdóttir today announced a new approach to housing development in Reykjavík that will promote the development of more affordable housing in the city.
Reykjavík City will begin preparations for a partnership to develop up to 4,000 residential units in the Úlfarsárdalur neighborhood with an infrastructure company. The City will open discussions with interested parties about the partnership in the coming weeks.
This effort aims to accelerate housing construction and related infrastructure, creating a healthier housing market with more affordable options for youth and lower-income buyers. The proposal will be reviewed at tomorrow's City Executive Council meeting.
"This is the result of work that has been underway since day one of the current City Council majority," says Mayor Heiða Björg Hilmisdóttir. "Reykjavík leads the nation in development because having a roof over your head and safe shelter is a human rights issue. An increased supply of non-profit housing is essential for countless families. Here we are setting in motion a process that will be pivotal in the lives of many thousands of people."