Innsbruck, 19.04.2011. There were happy faces all round at the official signing of the leasing contract for the Youth Olympic Village (YOV) between representatives of the construction group 'Neue Heimat Tirol' and the Innsbruck Youth Olympic Games Organising Committee (IYOGOC). Work on the Olympic Village – the third to be built in Innsbruck after the two constructed to house athletes and officials participating in the 1964 and 1976 Winter Olympic Games – is progressing well and will be completed on-schedule in autumn 2011. Today, the managers of the respective contract partners - Mr Peter Bayer for the Innsbruck-Tiroler Olympische Jugendspiele 2012 GmbH, and Mr Alois Leiter and Prof. Klaus Lugger for 'Neue Heimat Tirol' – signed the Youth Olympic Village leasing agreement in one of the finished 'Olympic flats' located in General-Eccher-Strasse in the east of the city.

Thanks to excellent co-operation between all of the partners involved in the project, the construction group 'Neue Heimat Tirol' began work on the Youth Olympic Village with an official ground-breaking ceremony on 3 December 2009. Since then, work on the Village has come on in leaps and bounds, with the new building complex set to be handed over to the International Olympic Committee on-schedule in December 2011. During the Games, which will take place from 13 to 22 January 2012, the Youth Olympic Village will be home to 1,660 athletes and officials from over 70 nations. From April 2012, the 444 flats built using the latest energy-saving technology will then be made available to the local population.