Walking through the city of Augsburg (Bavaria), at some point one comes across a place called the Fuggerei. It is a walled neighborhood made up of 67 houses dating back to the early sixteenth century (the first houses were built in 1521). These houses were financed by Jakob Fugger, a merchant and devout Catholic citizen of Augsburg. The richest man of his time—and often considered one of the richest of all time (today he would be worth approximately 400 billion USD)—he bought land in his hometown and provided apartments for people in need. In fact, it is considered the first social housing project ever.
What makes this place truly special, however, is that it still serves the same purpose to this day. The heirs of the Fugger family continue to maintain Jakob Fugger’s foundation. The conditions for being allowed to live in one of the 142 apartments have also remained unchanged: residents must prove they are in need, they must be Catholic, and they must be residents of Augsburg.
What has changed, though, is the obligation to pray three times a day for Jakob Fugger; this rule is no longer enforced. Some residents live here until they die, while others stay for a limited time, just a few years. What they all have in common is that they pay only the amount Jakob Fugger originally set as the yearly rent: 0.88 euros (about 1 USD) for an apartment with one to three bedrooms.
There is, however, some criticism. Who decides who may live here? The leading members of the Fugger family—and only Catholics are eligible as residents. Some argue that this is unfair, as it contradicts the principle of equal opportunities for all—one of the core principles of the German Grundgesetz (constitution) as well as of modern Germany. How can some decide who is “more equal” (George Orwell) than others? Or, more generally, should the power of wealthy philanthropists to determine the fate of individuals be limited? Shouldn’t such decisions always be made by governments based on democratically elected institutions?
However, I suppose the inhabitants of the Fuggerei don’t really mind… .
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