Within this context, Riksbyggen is putting the cooperative scheme forward to provide with solutions that respect young adults’ expectations. 250 small apartments will be built and will be offered to people 18-30 years, who will get the chance to live in the city center of Gothenburg. The main objective of this new development is to offer housing to young adults who cannot afford such a lifestyle despite having a stable job and income.
In a country that faces an overall housing shortage, the youth is one of the population groups that are most affected. According to the Swedish Association of Tenants in 2017, 24,3% of the group young adults in Sweden (20-27 years old) still lives at home. This is approximately 260,300 persons. 81,8% of these wants to move but is having a hard time finding a rental apartment or lacks the money to purchase a condominium.
Residents formed a cooperative and buy a share through an initial payment of 20-30,000 Euros (that will have to be sold back to the cooperative if they decide to move out) and pay a monthly rent. Riksbyggen was on the board of this new cooperative to help with maintenance and all kinds of practical issues. The model is financed through a loan, along with a credit guarantee offered by the Swedish housing authority. Construction started in the end of 2019.
The innovative elements of the project are the fact that for the first time a cooperative solution will target youth specifically, as well as the co-productive procedure that is followed in all phases of planning, involving 500 young people from the local rental housing waiting lists.
Partnership and Cooperation was key in the completion and generation of the project. Riksbyggen is partnering up with construction companies, researchers at Chalmers and Gothenburg University, the municipality of Gothenburg and other organisations working with development of services in circular economy, aiming to turn them into partners of the project.