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Lisbon City Council to Invest €239 Million in Affordable Housing

16 July 2019 – Richard D. K. Turner

The Lisbon City Council (CML) and the Institute of Housing and Urban Rehabilitation (IHRU) announced that they will invest €239 million to build affordable homes for roughly 1,500 families. The project, which comes under the auspices of the First Right program, will initially consist of a 70-million-euro investment, about of quarter of which will come from the IHRU.

At this stage, the CML will identify both families in need and underserved neighbourhoods and refer them to the IHRU, which will funds towards the development of new buildings and homes and urban rehabilitation. The municipality will invest a total of 158 ​​million euros, with the remainder funded by the IHRU.

Original Story: Economia Online – Rita Neto