Signature(s)
Summary sheet
- Urban development - Construction
The project will finance the promoter's construction programme for approximately 3,470 affordable and energy-efficient housing units (resource-tested rental housing) to be located in urban areas with high rental tension. This is part of a broader plan to support the construction sector announced in spring 2023 by the CDC Habitat group.
The aim is to increase the supply of affordable housing for medium income households in France. The investments will also contribute to urban regeneration and renewal. Part of the investment programme will contribute to new highly energy efficient affordable rental housing.
The Project is expected to increase the supply of affordable housing for rent and to increase the market flexibility to respond to the current affordable housing needs. The overall environmental and social impact of the Project is expected to be positive, with high environmental standards and notable social externalities. More widely, the Project is expected to contribute to urban regeneration and renewal with improvements to the quality and attractiveness of the built environment including climate mitigation measures. High energy efficiency standards will also lead to lower operating costs and energy bills for medium income tenants. Finally, the EIB loan will provide CDC Habitat with enhanced features compared to the market, including long maturity, five-year availability and five-year grace period as well as diversification of its funding structure in terms of maturity profile .
Where and if applicable, and based on a risk-based approach as defined in the EIBG E&S Policy, the requirements of the Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended by EIA Directive 2014/52/EU), Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC will be checked during appraisal. The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate mitigation through energy efficiency performance beyond the EU Energy Performance of Buildings (EPBD) Directive 2010/31/EU of the European Parliament and of the council of 19 May 2010 on the energy performance of buildings amended by Directive (EU) 2018/844.
The promoter has to ensure that contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation, Directive 2014/24/EU as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.