Paredes Municipality in Porto region plans to build 405 new houses and renovate 122 others with a total investment of over €64.3 million. The project will be supported by the Recovery and Resilience Plan (PRR).
The municipality has submitted applications for PRR funds for the construction of social housing and affordable rental housing to “mitigate housing needs in the municipality,” said Mayor Alexandre Almeida, quoted in a statement.
The mayor stressed the importance of “increasing the supply of affordable housing in the municipality, especially for the younger population, and prioritizing quality of life and promoting the fixation of the population in Paredes.”
Key points:
- €64.3 million investment to build 405 new houses and renovate 122 in Paredes Municipality
- Project supported by the Recovery and Resilience Plan (PRR)
- Aim to “mitigate housing needs in the municipality” and promote affordable housing options
- Construction of 223 social housing units for lower-income families
- Renovation of 122 existing social housing units
- Construction of 182 affordable rental housing units for middle-class families and young people
The construction of social housing, aimed at families with lower incomes, will total 223 units, amounting to €28.8 million. The rehabilitation of social housing will focus on 122 existing units, with a total investment of €8.4 million.
The construction of properties for the promotion of affordable rental housing, to be made available to middle-class families and young people who cannot find solutions in the market, will be 182 units, worth €27.1 million.
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