Hercesa builds 156 affordable rental homes in Guadalajara with ICO financing

This is the first undertaking enacted by the ICO to finance an industrialized construction development. The financed housing will be built based on environmental design and energy efficiency criteria. With this project, Hercesa consolidates its commitment to the sustainable growth of Guadalajara.

The ICO has granted a loan of up to €17 million to Hercesa for the construction of two developments in Guadalajara, comprising a total of 156 subsidized affordable rental homes, with associated storage rooms, 168 parking spaces and 2 commercial premises.

The area on which the developments will be built was assigned by the City Council of Guadalajara to this developer within the framework of the Recovery, Transformation and Resilience Plan, European Funds NextGenerationEU, based on the agreement signed at that time between MITMA, the Regional Government of Castilla La Mancha and the aforementioned City Council.

The assignment took place through the transfer of the rights of the plots of land for a period of 75 years for the construction of a residential complex of subsidized housing at affordable rents.

The aim of this social project is to tackle the lack of affordable rental housing in Castilla-La Mancha. The rental price will be lower than that of the free market in Guadalajara, in line with the regulations in this regard.

In addition, these are sustainable homes, which are being built under energy efficiency, environmental design and industrialized construction criteria with architectural panel facades. For all these reasons, the financed projects will enable quality homes for those who need an affordable rental alternative.

Hercesa has more than 50 years of experience in the construction and management of housing developments, both regarding the free market and subsidized housing, having developed and delivered 30,000 homes in residential projects located in Spain and other countries. Based in Guadalajara, Hercesa consolidates itself with these two projects its commitment to the sustainable growth of Guadalajara and the quality of life of its citizens.

Financing affordable housing is a priority within ICO’s strategy. The public bank has extensive experience in financing the development of official or subsidized rental housing in the different housing plans. This area of action has been boosted with the management of Línea ICO Vivienda with European funds #NextGenerationEU through the Government’s Recovery, Transformation and Resilience Plan, endowed with 4,000 million euros to increase the stock of social or affordable rental housing, as well as to improve the existing stock of social housing.

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