Madrid City Council, through the Madrid Municipal Housing and Land Company (EMVS Madrid), has completed work on Cañaveral 8, comprising 96 affordable rental homes in the El Cañaveral neighbourhood, in the Vicálvaro district.
The investment, entirely funded by the council, amounts to €19,964,018, including the value of the land. The development comprises 34 two-bedroom flats, 54 three-bedroom flats – four of which are adapted for people with reduced mobility – and eight four-bedroom flats, as well as 144 parking spaces and 96 storage rooms.
The homes were allocated in a draw held in February among Madrid residents with incomes of up to 3.5 times the IPREM, equivalent to around €44,000 gross per annum for a couple with two children. The rent will in no case exceed 30% of the household’s income. 80% of the homes will be allocated to young people and families with young children.
The building, comprising two towers that ensure dual orientation and cross-ventilation in 100% of the units, has an A energy rating, geothermal heating, underfloor heating, rooftop solar panels, a rainwater harvesting irrigation system and LED lighting.
With Cañaveral 8, EMVS Madrid has now completed 1,078 homes out of the 1,212 planned in El Cañaveral across 13 developments. Of these, seven have already been handed over to their successful applicants – Cañaveral 1, 2, 3, 4, 5, 6 and 12. Developments 8 and 9, for which the allocation draws have already taken place, will be handed over in the coming months. The allocation draw for Cañaveral 13 is scheduled for the end of May, that for Cañaveral 10 for the second half of the year, and developments 7 and 11 are in the final stages of construction.
EMVS Madrid’s public housing stock manages around 10,000 flats and has 5,700 new homes at various stages of development, including 2,200 under the Plan Suma Vivienda scheme. According to the Ministry of Housing’s Housing and Land Observatory, Madrid is the city with the largest stock of affordable rental public housing in Spain.
