For over ten years, Cassa Depositi e Prestiti has been committed to promoting and supporting the development of Private Social Housing through a fund of funds, the Housing Investment Fund (FIA), in which it is the reference investor (with 1 billion euros of capital, equal to about 50% of the total financial endowment) and manager through its subsidiary CDP Investimenti SGR. The FIA operates through an Integrated System of Funds (SIF): 29 local real estate funds, managed by 9 SGRs, whose reference investor is the FIA (with shares of between 33 and 80% of the total capital) and whose co-investors are local stakeholders, first of all local banking foundations, but also Regions, Provinces, Municipalities, housing cooperatives and private developers. The total resources mobilized by SIF amount to around 3 billion euros (a 3X multiplier compared to CDP’s investment), thanks to which SIF can be considered – on a global level – the third largest impact investing intervention.
The SIF offer includes about 20,000 social housing units as well as sleeping places in temporary and student residences distributed throughout the country. To date, about 230 interventions have been carried out or are in progress.
The Social Housing program promotes, in particular, three distinct types of interventions: (i) new social housing neighborhoods in cities that provide housing primarily for rent but also for affordable sale to young couples, large or single-parent families, and regular immigrants; relevant examples include: Cenni di Cambiamento, Borgo Figino e Redo a Milano, Vivo al Venti, Cascina Fossata and Nuova Falchera in Turin, Piagge in Florence, Padova via del Commissario, Corti di Medoro in Ferrara, Corti Perugine in Perugia, Quartiere Stadio in Lecce, Parco Gentile in Bari, Housing Città dei Sassi in Matera; (ii) University and temporary housing, which provides beds and services to non-resident students and those facing a time-limited housing need; among the most relevant interventions: Campus Santa Marta in Venice, Padova via Delù, Ivrea24 and Campus Sanpaolo in Turin, Campus Certosa and Campus Monneret in Milan, the hostel We_Bologna in Bologna; (iii) Social and health care facilities and protected residences for the self-sufficient and non-self-sufficient elderly, including Villa Fastiggi in Pesaro and Civitas Vitae Marche, based on an innovative model that sees longevity as a community resource.
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