News

23. February 2018

IAV Breaks Ground for Affordable Housing Project

On February 16, 2018, IAV and the Client Bjarg, a non-profit organization formed by two of Iceland’s largest confederations of labor, ASÍ and BSRB, signed a fixed-price contract. 

As the contract defines, IAV constructs a 155-apartment affordable rental-housing complex, entailing seven 3-4 storey buildings with a shared underground carpark.  Excavation is set to start the first day of March 2018.  Anticipated project completion is June of 2020.

Breaking Ground Ceremony was held on Project Site at 2PM today, with all stakeholders, public and private, participation.

Project Contract signing has been in the works since March 23, 2017, or when IAV and Bjarg engaged in a partnership during preconstruction phase of the project, with the main challenge to meet budget expectations.

Project Manager is Sigurjón Jónsson, Site Manager is Oddur H. Oddsson and Assistant Site Manager is Össur E. Friðgeirsson. 

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