The Municipal Housing and Land Company (EMVS Madrid) has completed construction on Vallecas 62, a new development of 100 affordable rental units in the Ensanche de Vallecas neighborhood. The project, financed with municipal and European funds, is now part of the capital’s public housing stock and forms part of the “Southern Strategy” promoted by the City Council.
Features of the development
The building comprises 35 two-bedroom units, four of which are adapted for people with limited mobility. In addition, there are 58 three-bedroom apartments and seven four-bedroom apartments. The residential complex also features 102 parking spaces and two commercial units.
One of the central aspects of the allocation model is that rent may never exceed 30% of the household’s income. The housing units will be targeted at households with incomes of up to 3.5 times the Public Multiple-Effect Income Indicator (IPREM). As a reference, a couple with two children will be eligible for one of these apartments if their gross annual income does not exceed approximately 44,000 euros.
The development also incorporates measures aimed at reducing energy consumption. All homes have an A energy rating and feature aerothermal heating, underfloor cooling, cross-ventilation, PVC window frames, and an exterior thermal insulation system.
How to Apply for One of the Homes at Vallecas 62
The 100 housing units in the Vallecas 62 development will be allocated through the standard procedures of the Municipal Housing and Land Company (EMVS Madrid). To participate in the lotteries and allocation processes, applicants must be registered in advance with the EMVS’s Permanent Registry of Housing Applicants and meet the financial requirements established for each call for applications.
Information on deadlines, eligibility requirements, and housing assignments is published through the official channels of EMVS Madrid. Once the development is included in the assignment process, registered applicants will be able to participate in the corresponding lottery to be eligible for one of the available homes.
An investment of 25 million euros
The construction of Vallecas 62 represented a total investment of 25 million euros, including the value of the land. More than 20.5 million came from the Madrid City Council, while another 4.5 million came from the European Next Generation funds, as part of a collaboration between the Ministry of Housing and Urban Agenda, the Community of Madrid, and the Madrid City Council.
The project is part of the Southern Strategy, a municipal plan that focuses on urban, economic, and environmental projects in nine districts of the capital: Latina, Carabanchel, Usera, Villaverde, Puente de Vallecas, Villa de Vallecas, Moratalaz, Vicálvaro, and San Blas-Canillejas.
For this development, prospective tenants must demonstrate that their household income does not exceed 3.5 times the IPREM. The City Council also notes that rent will be capped so that it does not exceed 30% of the household’s income.
Information on deadlines, eligibility requirements, and housing assignments is published through the official channels of EMVS Madrid. Once the development is included in the assignment process, registered applicants will be able to participate in the corresponding lottery to be eligible for one of the available homes.
