Government to plough €1.4 billion into urban renewal for ‘accessible renting’

It’s a brave new plan to recover ailing city centres and create accessible housing for people unable to buy their own homes. This is the latest plan rolled out by prime minister António Costa as part of the government’s Stability Programme.

“Rehabilitate to Rent” will be funded by the European Investment Bank and the Council of Europe’s Development Bank and make use of money coming into Portugal as part of the Portugal 2020 programme aimed at private regeneration projects in residential buildings in historic centres, riverside areas and run-down industrial zones.

Speaking at the opening of Lisbon’s “Week of Urban Rehabilitation”, Costa said that only with a “new generation of policies” will an “impulse towards valuing” city centres and “overcoming serious structural problems” be possible.

Urban rehabilitation has to stop being seen as the “exception” and start being considered a first option.

TVI24 interpreted this as Costa “distancing himself from the model of building new”.

He also added that new building and the outlay it entailed for families is what had led many into financial problems.

“The government will not turn its backs on these people,” he added.

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