YIT Completes Rivi Bachova Cooperative Housing Project in Prague
YIT has announced the completion of its Rivi Bachova apartment building in Prague’s Chodov district, a project developed in collaboration with the Rivi Housing Cooperative. This innovative cooperative housing initiative offers 47 apartments and one commercial unit, providing new residents with an affordable path to homeownership. Tenants can move in as early as December, with the option to purchase their apartments in the future.
The twelve-story high-rise, built on the site of a former boiler house between Mikulova and Bachova streets in Prague 11, features modern urban living amenities. Most apartments come with balconies or terraces, and residents have access to underground garages with two car lifts, storage cellars, and a carriage room. A commercial space within the building is designed to house a shop or service outlet, further enhancing convenience for residents.
“We are proud to have transformed an underutilized site into a modern residential building that revitalizes this sought-after part of Chodov. The Rivi Bachova project offers quality housing in a prime location without requiring a mortgage, making it an ideal solution for many,” said Dana Bartoňová, Sales Director of YIT Stavo.
The Rivi Bachova project operates on a cooperative housing model, requiring buyers to deposit 20-25% of the property’s value upfront. The remaining cost is financed by the cooperative through a loan, often at more favorable terms than traditional mortgages. Residents can transfer ownership to themselves after three to five years.
“Cooperative housing is a flexible and increasingly popular solution, especially given the challenges many face in securing a mortgage today. This model also removes age restrictions and the need to prove creditworthiness, making it accessible to a broader range of buyers,” Bartoňová explained. Savings accounts or partial funds are often sufficient to secure a unit within the cooperative.
Situated in the heart of Chodov, the Rivi Bachova building offers proximity to numerous amenities, including schools, supermarkets, restaurants, and healthcare facilities. The surrounding area caters to diverse lifestyles, with a central park featuring outdoor gyms and playgrounds, sports complexes, and cultural hubs like Chodov Fortress, known for its exhibitions and concerts.
Nature lovers will benefit from nearby recreational spots, such as the Hostivařská Dam, Botič-Milíčov Nature Park, and Hostivař Forest Park, offering opportunities for cycling, jogging, and walking. Entertainment options include Cinema City multiplex at Westfield Chodov, while excellent transport links, including a short walk to the C - Opatov metro station, ensure easy access to the rest of Prague.
With its blend of affordability, convenience, and location, the Rivi Bachova project is poised to meet the needs of urban dwellers seeking quality housing without the burdens of traditional financing