Real Invest wins Vienna Urban Renewal Prize 2012
- Bank Austria Real Invest receives award as builder: Bonygasse residential project prevails over the 21 other submitted projects
The 27th Vienna Urban Renewal Prize 2012, worth EUR 11,000, was recently presented by the Vienna Economic Chamber at the Kursalon Wien. As the builder of the winning project, Bonygasse 8, in Vienna’s 12th district, Bank Austria Real Invest took first place for the best building achievement among the 21 other projects that were submitted. At a jury session in the spring of 2012, a jury of experts, including representatives from the Austrian Federal Office for the Care of Monuments (Bundesdenkmalamt), the Federal and Provincial Guild of Construction (Bundes- und Landesinnung Bau), the Vienna University of Technology and the Austrian Federal Economic Chamber, selected Bonygasse as the winning project for the harmonious overall concept of the renovation and the successful combination of old and new. On Bonygasse, an industrial building from the early post-war period along with the adjacent empty lots were revitalised as part of a government-funded complete refurbishment including an addition. The former metal works was transformed into a modern residential property with spacious, loft-like housing units. This particularly successful renovation, which also maintained the historical building fabric, was the decisive factor in the project’s victory.
Roland Pinz, head of Investment Management at Bank Austria Real Invest, accepted the award: "I’m very pleased about receiving the Vienna Urban Renewal Prize 2012. Bonygasse is an extraordinary project for us: On one hand, it brightens up the cityscape and on the other, it offers a high quality of life for its residents. This award encourages us to continue to combine traditional building fabric with modern elements in our residential projects."
Bonygasse 8 has been part of Real Invest Austria’s portfolio since the end of 2007. Real Invest Austria is an open-ended real estate fund in accordance with the Austrian Real Estate Investment Fund Act and pursues a conservative investment policy. The fund aims to achieve sustainable returns and has premium real estate portfolios. With fund assets totalling roughly EUR 1.9 billion as of 31 May 2012, the Real Invest Group sees itself as responsible for helping to shape urban development and in particular for creating attractive and affordable living space.
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