Russia plans to build an additional 25 million square meters of affordable housing by 2017, costing no more than 30,000 rubles ($830) per square meter, said Construction, Housing and Utilities Minister Mikhail Men, Interfax reported.
Private companies will be responsible for construction expenses, but the government will provide land and compensation for infrastructure costs if a company builds at least 25,000 square meters of affordable housing. The builders may build additional housing if any land remains.
The Construction, Housing and Utilities Ministry estimates that the housing will cost 750 billion rubles to build, with 100 billion rubles in infrastructure costs covered by the government.
The program currently covers 36 regions, but may be expanded. Men said 460,000 Russian families would own apartments under the program by 2017.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
