Italian real estate fund Fondo Ca' Granda is investing over €40 mln in a social housing project in Milan.
Construction work on the redevelopment of a historic residential complex located between Via Sarpi, Via Bramante and Via Niccolini in Milan is due to start at the beginning of 2023.
The project will result in the creation of 200 new flats intended for long-term rental and social housing, in a project involving 10,000 m2 of regenerated residential space and 3,000 m2 of commercial space.
The buildings covered by the intervention will meet the most advanced sustainability and energy and functional efficiency criteria, while maintaining the historic 19th-century façade and thus preserving the typical aspects of the urban context.
Three new courtyards will be built in the old communal areas, destined to become social meeting centres.
The project will be supervised by architects Barreca & La Varra.
The renovated property complex will also house Milan's first Ronald House, dedicated to hosting families with children being treated in hospital, and promoted by the Ronald McDonald Children's Foundation.
Fondo Ca' Granda works towards the requalification and reuse as affordable housing of dwellings that form part of the residential estate of the Milan Polyclinic Foundation.
Besides Fondo Ca' Granda, the project also involves the Fondazione IRCCS Ca' Granda Ospedale Maggiore Policlinico di Milano, the Fondo Investire per l'Abitare (FIA - CDP) and the Cariplo Foundation, while InvestiRE SGR (Banca Finnat Group) is in charge of the management.