The EIB provided a EUR 125m loan to the Barcelona Municipal Housing Board (a public entity under the responsibility of the City Government) in March 2017, with the aim of building 2 198 homes for public rental to low-income households. The agreement is supported by the EFSI and was signed in Barcelona by EIB Operations Director for Spain and Portugal Birthe Bruhn-Léon and Mayor of Barcelona Ada Colau.
The EIB loan will finance up to 50% of the total cost of the project to build 23 new housing developments in the following eight Barcelona districts: Eixample, Nous Barris, Sant Andreu, Sants-Montjuïc, Sant Martí, Gracia, Sarrià-Sant Gervais and Horta-Guinardó. All the buildings will be used to cover demand for rented social housing from middle or low-income applicants, while 585 of the new homes will be reserved for people over the age of 65 with limited means. These apartments for older people and their access routes will be equipped for people with limited mobility.
Some of the buildings will be constructed according to new energy efficiency standards, facilitating cuts to energy use and emissions. This project will make it possible to create 2 000 jobs during its implementation phase until 2022.
The project will contribute to the alleviation of current shortages in social housing supply in Barcelona and to the overall urban regeneration of designated areas.
The project comes under the Housing Strategy of Barcelona 2008-2016 (currently being updated to 2016-2025) whose main objective is to increase the number of social housing units for rent and to improve housing conditions, increasing the attractiveness of Barcelona as a place to live. Moreover, the project is fully in line with the Shared Strategy for a More Inclusive City which, among other objectives, aims to improve the integration of vulnerable people in the city.
EFSI financing: €125 million
Expected job creation: 2000
Agreement signed by the local promoter responsible for social housing in the Municipality of Barcelona: Patronat Municipal de l´habitatge de Barcelona http://www.pmhb.orghttp://www.eib.org/infocentre/press/releases/all/2017/2017-212-investment-plan-for-europe-eib-to-finance-construction-of-2-198-rented-social-housing-units.htm