Momentum Real Estate has adjudicated to San José Constructora the construction works of an hotel building, destined to coliving, with 520 housing units and more than 30.000 sqm in built area in Madrid’s municipality of Valdebebas.
Coliving, a formula to rent with shared common services and interests, it is a very specific rental business niche. It mixes concepts extracted from middle class rentals, student residences and hotels.
In terms of beds or units, the difference is two euro per month per sqm of a traditional rental. And it is becoming an alternative to explore terrains dedicated to offices, hotels or residences, because it allows this type of construction of assets destined for rental.
The new project
The project is conceived as a block shaped like a U hosting an open patio where the garden areas can be found along with a sports’ track and a swimming pool. This is parcel 135-C located at calle Félix Candela number 147. It has around 5.595 sqm and a total buildable area of 21.401 sqm.
The great built area is developed on two ground floors destined to parking and technical rooms and a maximum of 14 floors above the ground floor (the building is divided into north and south wings, with 10 and 8 floors respectively) where the 520 accommodations are located. The building tries to stand apart and to become a reference in terms of sustainability by implementing the Breeam criteria.
There are currently several projects being developed in Madrid, both in the city centre and in areas such as Alcobendas, Rivas Vaciamadrid and Valdebebas, expected to open in 2022 and 2023. Urban Campus, one of the main operators within the Spanish market, for example, expects to operate in 2023, around 2.500 units.