Milan: a new subsidiary dedicated to social housing

A new municipal subsidiary dedicated to housing – or, more specifically, to the development of rental properties at controlled rents for the middle class. The City of Milan has launched this new public company dedicated to social housing. The City Council has approved the guidelines, following a proposal by the Councillor for the Budget, Public Property and the Extraordinary Housing Plan, Emmanuel Conte.

The details will be finalised within a month. The new company is wholly publicly owned; it will be granted ownership of the houses for this purpose, as well as a share of the assets. “This measure,” explains Councillor Conte, “completes the first phase of the process we have been building over the last two years, working on several fronts: identifying municipal land on which to build, refurbishing properties, purchasing existing homes, and providing support to those who are currently struggling to pay their rent. We now want to give this work a structure capable of continuing over the long term, even beyond this administrative term.”

By October, the corporate structure and the approved business and financial plan will have been finalised, to be submitted to the City Council for approval. The City Council faces a difficult task: to deliver on what was announced two years ago – 10,000 homes over the next 10 years. Tenders have been issued so far, but there has been very little response from the market. On 26 October, bids will be opened for a tender covering three large areas (San Romanello, Palasharp and Bovisasca), which has been extended twice.