The Spanish Confederation of Housing and Renovation Cooperatives (CONCOVI) has backed the signing of an agreement that will enable the development of 140 cooperative housing units in the municipality of Torrox, Málaga. The project will be implemented on the basis of the social economy, with ADU Asesores acting as the management body approved by CONCOVI.
The plots of land covered by the purchase agreement are situated 300 metres from the beach in the URP 12 urban development sector, and the estimated investment for the project is around €38 million.
The development will be carried out on a cooperative basis and at cost price. Of the total number of homes planned for this development, 40% will be subject to some form of social housing protection, while the remainder will be on the open market.
The agreement forms part of CONCOVI’s efforts to promote residential projects under a cooperative scheme and to facilitate access to affordable housing throughout the country, by bringing together interested parties and involving future allottees in the development of the scheme.
Following the signing of this purchase agreement, an onboarding process will begin immediately, involving interested parties so that they are engaged from the outset, enabling the project’s preliminary requirements to be defined and allowing them to design their own homes based on their needs and preferences.
“The key is to put people at the centre, ensuring that, from the very start of the housing project, they are the ones who define what they want their home to be like. It is they who, through self-build within a cooperative framework and via a transparent, participatory and community-based decision-making process, are able to realise the project they want at strictly cost price”, stated CONCOVI.
CONCOVI will draw on all its platforms – COOPEROPEN, COOPERALQUILA, OIKO and SERFICOOP – which are key tools of CONCOVI’s Housing and Land Demand Register, not only to channel demand and facilitate access for interested parties, but also to make available to applicants the technical resources, ‘open book’ working groups and financial support necessary for the successful development of self-build housing projects.
In its capacity as the representative body for housing cooperatives, CONCOVI will continue to oversee the implementation of the initiative to ensure that the project progresses in accordance with the principles of the cooperative model and the social economy.
