05 of March of 2024
5 March 2024
Carabante visits one of the 25 municipal plots ceded with surface development rights where more housing developments are planned.
This morning, the Town Planning, Environment and Mobility Officer, Borja Carabante, visited one of the 25 plots of land that Madrid City Council has set aside to build affordable rental housing for 45 years. Accompanied by the Hortaleza district councillor, David Pérez, the head of the division went to number 252, María de las Mercedes de Borbón to check on the development being carried out by Culmia on this site located in the Valdebebas district.
The land that was made available for the 25-plot programme was zoned as free-market housing and was owned by the council. They were distributed in 11 districts of Madrid: three plots in Arganzuela; two in Retiro; one in Moncloa-Aravaca; three in Fuencarral-El Pardo; one in Latina; three in Carabanchel; two in Usera; two in Ciudad Lineal; three in Hortaleza; four in Villaverde, and one in San Blas-Canillejas. All were divided among three developers: Culmia, which will build 871 homes; Pecsa Avintia, which will build 838 and Vía Ágora, which will develop 425.
Carabante toured the site, where work has already begun on developing the land. The Culmia representatives informed him of the projection for the completion of the works and the time when the houses will be handed over to the future tenants, in 2026. All the projects to be executed consist of 1, 2 and 3-bedroom homes, with parking spaces and storage rooms in the basement. What's more, they have a community room, a gymnasium and, in 6 of the 7 Culmia developments, a swimming pool.
The head of the division highlighted the efforts being made by Madrid City Council to reduce the tension in the city's housing market, and referred to the series of actions and special plans which, once completed, will result in a total of 25,680 new homes for rent, free-market sale and social housing.
The plot he visited today is part of a social housing project that consists of putting land on the market, through surface development rights, to build 2,134 homes on 25 plots on an affordable rental basis. The term of the surface development right is 45 years and, at the end of this period, the buildings will become part of the Council's public housing stock. The aim is to facilitate access to affordable rental housing for a large percentage of the middle-class population affected by soaring rent costs, but who are unable to access public housing due to their income or other circumstances.
Along these lines, Madrid City Council has also fostered the social sale of land at a reduced rental price in 12 residential plots of land owned by the City Council, which are allocated for the construction of residential properties to be placed on the free market. For the first time, the private sector is required to maintain affordable rents for future tenants for a 15-year period. 640 apartments are to be built in eight areas in the districts of Arganzuela (Nuevo Mahou-Calderón); Chamartín (Calle José Vasconcelos); Latina (La Medina); Carabanchel (Mercedes Arteaga); Puente de Vallecas (Calle Doctor Sánchez and Sierra Toledana); Ciudad Lineal (Avenida de Aroca-Bilbao neighbourhood); Villaverde (El Espinillo), and Barajas (North Sector Corralejos).
Through two schemes, the following will be built in Madrid over the course of the current term of office: 2,774 new rental homes at below-market prices following the transfer of several plots of land by the municipal council.
These two schemes, both the transfer of land with surface development rights and the social sale, will help to mitigate the financial burden of paying rent, so that it does not exceed 25% of income - currently it is around 42%, while the Bank of Spain states that it should be below 33%. What's more, it establishes a genuine public-private partnership on land, which will increase the supply of affordable housing and contribute to lowering prices in the area where these developments are to be located.
Culmia breaks ground on three more developments in Madrid City Council's affordable housing project
Culmia closes an agreement with Citibox to install smart residential mailboxes in the 3,771 affordable rental housing units of the CAM and the Madrid City Council
Culmia hands over the first affordable rental homes of the VIVE Plan to families in Alcorcón
