Project for the reconstruction of old houses worth up to $200 million starts in Vyshneve

The project is being implemented as a part of a non-governmental program on the mass upgrade and restoration of the housing stock in Ukraine.

According to a press release of the information center of the program directorate, the document were signed by town authorities and directorate representatives at an enlarged meeting of the town council held on May 22.

"Taking into account the fact that around 50,000 people live on 600,000 square meters, and 4,500-5,000 persons are waiting for apartments, then around 13 square meters are available per capita, which is lower than the existing requirements. The important social tasks of the project are the liquidation of the existing waiting list, and the creation of recreation and social objects in districts and residential areas," reads the release.

The program directorate has attracted two Ukrainian companies as investors, although their names have not been disclosed.

The project foresees the gradual reconstruction of old houses without the resettlement of residents. A total of 13 residential areas are to be upgraded in the town within two years. At present, an inventory of the housing stock is being conducted.