Atlantidomus Considers Participation in Controlled-Cost Housing Project in Funchal
Madeira GuideAtlantidomus is evaluating a potential involvement in a public initiative aimed at developing controlled-cost housing in Funchal, Madeira. This project, launched by Investimentos Habitacionais da Madeira, offers a strategic opportunity for affordable housing development.
Atlantidomus, an Economic Housing Cooperative based in Madeira, is currently assessing its involvement in a new public housing project initiated by Investimentos Habitacionais da Madeira (IHM). This initiative aims to promote affordable housing solutions in Funchal, the island's capital.
The proposed project involves the allocation of a land parcel for the construction of controlled-cost residential units. This land, located on Caminho dos Saltos in the parish of Imaculado Coração de Maria, spans approximately 5,580 square meters. The development will follow a regime of surface rights and resolvable ownership, providing a feasible model for affordable housing.
This initiative is particularly significant as it addresses the growing need for affordable housing in Madeira, a popular tourist destination that has seen rising property prices. The Atlantidomus cooperative is expected to make a decision on their participation soon, potentially impacting the local housing market and community.
The project underscores a broader commitment to sustainable urban development in Madeira, reflecting efforts to balance tourism demands with the needs of local residents. It provides an opportunity for the cooperative to contribute to the community while ensuring housing affordability.
Residents and stakeholders in Funchal are keenly observing the developments, as the project's outcome could set a precedent for future housing initiatives on the island. The cooperative's decision will likely influence other housing projects and policies in the region.
Sources
Madeira Guide
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