Vita Collective Foundation and Zurich Investment Foundation invest in a residential project for carefree senior living in Fribourg
Senior citizens often live in large apartments, while young families have to make do with cramped living conditions. In the city of Fribourg, the Vita Collective Foundation and the Zurich Investment Foundation are now investing in an innovative project for independent and assisted senior housing.
As one of the most important pension funds in Switzerland, the Vita Collective Foundation invests strategically and effectively in attractive living space for carefree senior living. Together with the Zurich Investment Foundation, it recently acquired three relatively small high-rise buildings from the 1970s in Fribourg with a total of 84 apartments. These are located at Chemin de Bethléem 3, 5 and 7 in the centrally located Beaumont-Vignettaz district, which has a high proportion of senior households. "The location is therefore ideal for offering older residents a suitable new home," says Doris Neuhäusler, Project Manager for Strategic Real Estate Projects at the Vita Collective Foundation. In the city of Fribourg, two thirds of senior citizens live in large apartments that may no longer meet their current needs. "If we succeed in creating suitable housing for these people in the medium term, senior citizens will live in fewer square meters in the future and larger apartments will become available for families in the neighborhood."
Sustainable investments with a local impact
Under the name "Lebensraum 2024, (Living Space 2024)" the city of Fribourg is pursuing an active housing policy with a focus on senior and family households. There is great interest and willingness on the part of municipal players to work with private and institutional investors on this basis. The Vita Collective Foundation is supported by Zurich Invest Ltd, the manager of the Zurich Investment Foundation, with its expertise, many years of experience and comprehensive understanding of local real estate markets. "Together, we have sought active dialog with the city of Fribourg with the aim of developing an attractive and affordable offer for families and senior citizens in the future," explains Thomas Baumgartner, Portfolio Manager "Senior Housing" at Zurich Invest Ltd.
"We are convinced that, by purchasing these properties and gradually developing them, we are making a valuable contribution to the vision of the city of Fribourg for a diverse and sustainable multi-generational city," says Doris Neuhäusler. In the future, generation-appropriate apartments for senior citizens and small families are to be offered, combining attractive neighborhood living with a range of services for daily needs on the first floor. Discussions are underway with local stakeholders so that their knowledge can be incorporated into the project and an offer can be created that best meets the needs of the neighborhood.