brown windmill on green grass field under blue sky during daytime
  • ASML will pay a compensation of up to €2 million for possible losses of the TAC (Living) project
  • In the Veldhoven construction project, ASML has committed up to €1.84 million of possible losses.

Veldhoven, The Netherlands – ASML, one of the world leaders in the manufacturing of lithography equipment for the semiconductor industry, Thursday announced two significant initiatives aimed at increasing affordable housing in the Brainport Eindhoven region.

These projects, involving collaborations with multiple partners, underscore ASML’s commitment to community development and address the pressing need for affordable living spaces.

More recent news from The Netherlands.

Springplank Project in Veldhoven: A Leap Towards Social and Mid-Rent Housing

In a collaborative effort with BPD | Bouwfonds Gebiedsontwikkeling and Van Santvoort, ASML is set to develop the Springplank project in Veldhoven. This private initiative promises to add a mix of 40 social rent and 90 mid-rent apartments. The plan also includes a community center and 130 car parking spaces, enhancing the livability of the area.

Eindhoven’s Urban Revival: 11-Story Residential Tower and TAC Renovation

ASML partners with Focus On Impact and Stichting TAC in Eindhoven to construct an 11-story residential tower. This project will not only offer 249 affordable homes but will also involve the complete renovation of the adjacent Temporary Art Centre (TAC) building. This initiative aims to create a vibrant cultural hub, providing young talents with an innovative meeting place for creative and cultural exchanges.

Both initiatives have been developed in close consultation with the local governments of Eindhoven and Veldhoven. This collaboration ensures that the projects align with the broader community needs and urban development plans of the respective areas.

ASML’s Risk Mitigation Strategy: Safeguarding Project Viability

To ensure the success and viability of these housing initiatives, ASML has introduced a unique risk mitigation measure. The company will cover a portion of any potential losses upon project delivery. This approach de-risks the investment for partners and accelerates the construction process, which had previously faced obstacles.

By Lisa Luckas

Lisa Luckas is a Sr. Business News Editor at Nobot.News.

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