Lisbon's New Co-Living Space for Investors Amid Housing Crisis Sparks Outrage
Abrilabril2 months ago
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Lisbon's New Co-Living Space for Investors Amid Housing Crisis Sparks Outrage

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housingcrisis
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investors
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Summary:

  • New co-living space in Lisbon targets investors and digital nomads, sparking outrage amid a housing crisis

  • 84-unit development in Convento das Grilas includes shared amenities to foster community

  • Critics argue the project ignores the needs of locals facing homelessness and high housing costs

  • Approved by PSD/CDS-PP with PS abstention, the project involves alienation of public property

  • Mayor Moedas' claims of a transformative housing solution met with skepticism and anger

In the heart of Lisbon's housing crisis, Mayor Carlos Moedas has inaugurated a new co-living space aimed at investors and digital nomads, located in the historic Convento das Grilas in Beato. This development is part of the Unicorn Factory initiative, designed to host over 1,500 individuals and international companies, including tech unicorns and startups.

A Controversial Priority

With housing prices soaring, the announcement of this 84-unit co-living space, featuring 137 rooms for medium-term stays, has ignited frustration among Lisbon residents. The project, which includes shared kitchens, laundry rooms, living areas, and terraces, is touted to foster community and collaboration. However, critics argue it overlooks the urgent needs of locals struggling with homelessness and unaffordable housing.

The Backlash

Residents express dismay as the city prioritizes speculative activities and digital nomads over those in dire need of housing. The project, approved by the PSD/CDS-PP executive with PS abstention, involves the alienation of public property and is being carried out by Mota-Engil. Despite claims of creating a "sustainable, accessible, and transformative housing response," many see it as a slap in the face to those suffering from the real estate speculation crisis.

A Symbol of Discontent

Carlos Moedas' defense of the project as a rehabilitation of a historic building and a boost to the city's housing solutions has only added fuel to the fire, with many viewing it as an insult to those genuinely in need of affordable housing.

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