Braga housing project set to receive 2.2 million euros investment after the city council of Braga agreed to approve the investment .The City Council of Braga has announced that its aim is to increase and improve affordable housing capacity. That first step was taken in Council’s plan earlier this week with investments in these 15 housing developments as part of the Local Housing Strategy (ELH).
The properties that are going to be acquired are inclusive of a single T1, ten T2 and also four T4 properties. It is mandatory meet standards for habitability, with all of the necessary rehabilitation activities being executed before accepting tenants to reside in.
123 million euros to be invested
The mayor of Braga, Ricardo Rio, went ahead and said that this was the very first experience of this nature in Braga, of which they hope will be a success because there are a total of 15 households, if they get to succeed with this acquisition, that will at least see their housing needs met.
In February this year Braga came out and made an announcement that it will be investing 123 million euros in the Braga housing project. This project in the new ELH institution is going to be the largest ever made for housing in Braga, with quite a number of improvements and policies to be set up to 2026 in response to the housing need for the population in Braga. The mayor also stated that the acquisition of the property would be done in an organized and gradual manner in facilitation of the Braga housing project.
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Land investment of the Braga Housing Project
The council has also put intentions in launching a public offer for the acquisition of the land that would enable the municipality of Braga to construct new affordable housing units.
The mayor stated that there were a number of sites that had been spotted and were being looked into and noted that “the areas in which the lands have been identified are located in the first ring of the city, this is simply because there are not exactly many areas of land available within the urban network”.
The mayor also hinted that they will be revising the Municipal Master Plan (PDM) and stated that the revision would go on to be implemented for it is a very crucial factor in increasing housing supply in the market and thus eventually would attract an investment that is sustainable to generate more wealth in the coming future.
