Affordable housing: Redo Sgr's 5Square project wins the Uli Europe Award
The development - which transforms five buildings in Milan into accessible housing - is promoted by Fondazione Cariplo and Regione Lombardia and has the Cdp Group as anchor investor. The other challenges are Scalo Greco-Breda, ex-Macello and Caserma Mameli. But the municipality is being asked for clear rules, streamlined bureaucracy and realistic parameters. Because rising construction costs jeopardise sustainability
Key points
An international award - and it is the first time that an Italian project has won the prestigious European recognition - and an authoritative and clear point of view on the issue of housing affordability, especially in large cities such as Milan. The 5Square affordable housing project in Milan - developed by Redo Sgr - has won the Uli Europe Awards for Excellence 2025, a prestigious European award for real estate development.
The 5Square project
This is the first time that an Italian project has won this award in the competition which, now in its sixth edition, celebrates the highest standards of quality in urban planning and real estate practice, evaluating projects according to strict criteria: planning, sustainability, social impact, resilience, architecture and design.
Situated on a former disused commercial area, 5Square is a 10,000 square metre affordable housing reuse project that has transformed an urban void into a community. The project was developed by Redo Sgr, through the Fondo Immobiliare di Lombardia, promoted by the Cariplo Foundation and the Lombardy Region and with Cdp as anchor investor, through the Fia fund of Cdp Real Asset Sgr, and with Barreca & La Varra as designer and Fondazione Housing Sociale as technical-social advisor.
The 5Square project stems from the transformation of an abandoned and degraded real estate sector, consisting of five unfinished tertiary buildings in the Vigentino district south of Milan. The buildings will be energy class A2, powered by renewable sources. The project offers 468 homes at affordable rents, integrated with social, educational services and community spaces, promoting social cohesion and quality of life.For years this area has been an urban wound and a social problem. After a long and complex patrimonial and urban planning process, it was possible to redefine the intended use and restore life to these properties, unlocking the area's development. The intervention is not limited to offering residences at lowered rents and prices, but implements a concerted urban planning operation with the public administration, which provides for: a nursery school and kindergarten (0-6 years), spaces open to the area to support families and encourage a work-life balance; health, rehabilitation and dental services; creative and social workshops: spaces for people with disabilities, with employment paths and leisure time initiatives, local shops and pet services.
Residential services, on the other hand, include sheltered flats for minors and young adults: pathways to autonomy and social reintegration; accommodation for single-parent households and mothers with children; residences for people with disabilities.
"5Square is proof that it is possible to combine sustainable investments with architectural quality, social innovation and environmental sustainability," said Fabio Carlozzo, CEO of Redo Sgr.
"Among the elements evaluated by the jury," said Antonino Turicchi, CEO of Cdp Real Asset Sgr, "in addition to the excellent characteristics of the specific project, the innovative financial and governance structures weighed in positively, as well as the possible replicability of the projects, all elements that characterise our operations in the sector through the Fondo Investimenti per l'Abitare and the other funds of funds managed by Cdp Real Asset.
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