The total cost of the project is about €5M. Under our business plan, more than 90% of this funding will consist of bank loans, funds for sustainability projects, city subsidies, and deposits from the future residents. However, we still need to raise the last €450k to meet our fundraising goals and to qualify for those larger funding sources.
Upon completion of the building, the rents collected will cover our operating costs and loan repayments. All surplus will remain within the association to be spent on maintainance and improvements to the commons.
At this early stage of our project, we already have bills to pay. We are asking for donations to help us cover our short-term starters and operational expenses, including legal and financial advice, registration of a vereninging, and so on. Our short term goal is to raise €5.000 by the end of the summer.
€120 / €5.000