22 June 2020 – The real estate cooperative REQUALITAS VIP is planning to build 119 affordable rental homes and 114 market-price houses in Alto da Ajuda, in Lisbon. The firm, which is primarily driven by students and teachers from the University of Lisbon’s Ajuda Campus, has stated that it will invest a total of 34 million euros.
The new development in Alto da Ajuda was initially planned in 2017, under Lisbon’s Affordable Rents program, which foresees the development of affordable housing through cooperatives or other types of consortia. The architect managing the cooperative expects the municipality to approve the project by 2021, allowing the project’s inauguration in 2023.
The 58,158-m2 site is located within the campus of the University of Lisbon – Ajuda, with views of the Tagus river estuary and the Monsanto natural park. Of the total, the cooperative will use 22,085 m2 for above-ground construction. The planners foresee that 89% of the development will be residential, with 7% dedicated to retail and 4% to parking.
Original Story: Economia Online / Lusa
Translation/Summary: Richard D. Turner