• The developments offer a total of 110 units, ranging from one to three bedrooms, all with storage rooms, as well as numerous common areas and a basement parking garage.
• Both buildings have an A energy rating.
• These housing developments are part of Lot 5 of the affordable housing tender issued by the Madrid City Council, and join those in Arganzuela, Carabanchel, and Villaverde.
• Culmia has thus completed the start of construction on 871 affordable housing units in seven strategic locations throughout the city.

August 27, 2024 — Culmia, the real estate platform that brings together all the housing solutions available on the market, has begun construction on the 110 housing units in San Blas and Fuencarral-El Pardo as part of the affordable housing project promoted by the Madrid City Council.

Located on Calle del Concejal Ginés Meléndez, in the Rejas neighborhood, the San Blas development consists of a total of 50 units, including 27 one-bedroom units, 27 two-bedroom units, and 6 three-bedroom units. All homes come with a storage room, and the building has 71 parking spaces.

For its part, the Fuencarral-El Pardo development, located on Miguel Aracil Street, in the Peñagrande neighborhood, features a total of 60 units, of which 10 are one-bedroom, 35 are two-bedroom, and 5 are three-bedroom, all with storage rooms. In addition, the building also has 52 parking spaces.

Both residential complexes feature landscaped common areas and a swimming pool, as well as a gym, a community room, and a bike storage room.

The construction of the buildings—which consist of 6 and 5 above-ground stories, respectively, and two basement levels—will be carried out using ÁVITA’s fully industrialized construction system. This ensures the quality and performance of the residential projects while guaranteeing high standards of sustainability in both the materials used and the construction processes.

In addition, these homes have an A energy rating—the highest in the categories—which highlights the residential complexes’ strong standing in terms of sustainability and energy efficiency.

According to Jaume Borrás, Culmia’s business director: “With the start of construction on the San Blas and Fuencarral-El Pardo buildings, we are meeting the goals set out in our roadmap to provide quality, affordable housing for all citizens. We are proud to collaborate with the Madrid City Council on a project that promotes a more equitable future for everyone.”

These developments are part of Lot 5 of the affordable housing tender issued by the Madrid City Council, joining the 761 homes developed by Culmia that are currently under construction: Valdebebas (Hortaleza), San Fermín (Usera), Atocha (Arganzuela), San Isidro (Carabanchel), and Los Ángeles (Villaverde).

With this, Culmia has completed the groundbreaking for 871 affordable housing units in seven strategic locations throughout the city as part of a public-private partnership that will facilitate access to housing for Madrid residents and represents an investment of more than 130 million euros.

The project, spearheaded by the Madrid City Council through the Department of Urban Development, aims to bring approximately 2,200 affordable rental housing units to the market on 25 plots located in 11 districts of the city of Madrid, through the transfer of land under a 45-year surface rights agreement.

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