Portugal invests €15 million in affordable housing

In a statement, Lisbon City Hall said the project comprises two residential buildings on Rua Ferreira de Castro in the Flamengane neighbourhood. They comprise 132 units, ranging from studios (T0) to four-bedroom apartments (T4), plus four retail and service units, along with basement parking.

Building A has seven floors above ground, two basement levels with capacity for 161 parking spaces, 72 residential units, and two retail units.

Building B, where the key handover is taking place this afternoon, has six floors above ground, 60 residential units, and two retail and services units.

The statement also notes that the ground floors of both buildings are dedicated to common areas, technical facilities, and tertiary-use spaces, specifically retail and services.

The project also included redeveloping the surrounding public space and green areas, creating recreational zones, and integrating with the neighbourhood’s planned cycling network.

Additionally, the project created 86 on-street parking spaces along Rua Pedro Cruz and Rua Ferreira de Castro, supplementing the basement parking in Building A.

Regarding road infrastructure, the project involved re-profiling Rua Pedro Cruz, partially upgrading Rua Ferreira de Castro and Rua Luísa Neto Jorge, and fully redeveloping two squares located between Rua Ferreira de Castro and Avenida Avelino Teixeira da Mota. The €15 million project is part of the municipality’s Affordable Housing Program and is being led by Lisboa SRU (Urban Rehabilitation Company), with funding from the Recovery and Resilience Plan (PRR).

The Mayor of Lisbon, Carlos Moedas (PSD), will preside over the key handover ceremony.