Upcycled homes for buyers with limited financial resources
UP wants to make social housing circular and keep it social
Upcycle outdated (social) housing and create opportunities for families with limited financial resources to acquire their own homes. That's what the UP project is all about.
Traditionally, outdated homes for which the renovation costs are too high are taken out of the rental market and sold on the public market. There, scarcity drives up housing prices nicely. Speculators prey on homes with a favorable location in order to sell them at high margins.
This makes it difficult for singles or families with limited financial resources to acquire their own homes. And even if they can, they don't have the means to renovate the home sustainably. UP wants to change this.
Based on a concrete project with 32 modest houses, Cordium searches within UP for new legal and financial solutions to sell outdated social housing to the target group in an affordable way. And this with the certainty that they will (1) be rebuilt energetically and with a focus on change, (2) be maintained and repaired sustainably and (3) retain their social housing function, several cycles in a row.
If Cordium effectively manages to solve the legal & financial bottlenecks, the 32 houses from the pilot project will also be effectively circularly renovated and transferred to the intended target group. Other social housing companies could also follow their model. Possibly the concept will also find applications outside social housing to offer families the opportunity to acquire a sustainable & circular home.
PartnersOnesto Kredietmaatschappij, PAQT Advocaten en Belcare