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    Reference: 20110496
    Release date: 9 October 2012

    Promoter – Financial Intermediary

    “Fondo Polaris Parma Social House”, a closed real estate fund.



    The project involves the construction of 852 new social and affordable housing units in two phases (ca. 50% of units in each phase). The energy efficiency performance is expected to reach class B. Two of the sites are brownfield areas, while the remaining five sites are in-field developments in already urbanised areas.


    The construction of new social/affordable dwellings aims at meeting the need for housing in the city of Parma. The project is mainly targeted at socially and/or economically disadvantaged individuals and families.



    Proposed EIB finance (Approximate amount)

    EUR 16 million

    Total cost (Approximate amount)

    EUR 122 million

    Environmental aspects

    The question of the sub-projects falling within a plan or a programme requiring a Strategic Environmental Assessment (SEA) in line with EU Directive 2001/42/EC will be further examined. The construction of housing falls under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU (urban development project), according to which the competent authority decides on the full EIA on a case by case basis. During appraisal the compliance with EU directives will be assessed.


    A tender notice was published by the Municipality of Parma in the OJEU on 13/09/2008, Nr. 2008/S 178-237546, with a link to the full tender specifications. In Italy the “Bando di Gara“ was mentioned in the national newspapers “La Repubblica” and “Il Sole 24 ore” on 15/09/2008 and in “Edilizia e Territorio” on 22/09/2008.


    Signed - 4/07/2013


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Italy Urban development