The regional government has announced the construction of two new public housing developments in Tres Cantos, totaling 304 rental apartments. These homes are part of Plan Vive IV, a program focused on expanding affordable rental housing in the Community of Madrid, particularly given the increasing difficulty for young people and other groups to access housing.
The first development will be located at Avenida Juan Pablo II, number 1, comprising 188 units (61 one-bedroom, 108 two-bedroom, and 19 three-bedroom). The second development at Calle Letonia, number 12, will add 116 more apartments (36 one-bedroom, 69 two-bedroom, and 11 three-bedroom). Both buildings will include garage spaces, storage rooms, concierge services, and various communal areas such as community rooms, gyms, urban gardens, and playgrounds.
According to Plan Vive IV regulations, 90% of the homes will be allocated to individuals under 36 years old at the time of signing the contract. The remaining 10% will be exempt from this age limit. Additionally, priority will be given to residents registered in Tres Cantos or those who work in the municipality, provided they meet the five-year residency criteria set by the Community of Madrid, as explained by Ana Isabel Pérez, Housing Councilor.
The apartments will be marketed under the Public Rental Housing (VPPL) scheme. The awarded company, DeA Capital, will apply a rental coefficient lower than the maximum allowed, which is expected to result in rents below market rates. However, the exact rental figures and community fees have not yet been disclosed and will be known once the final marketing conditions are set.
Construction for both buildings is scheduled to begin in the last quarter of 2026, with an estimated handover of the homes in early 2029. This timeline of over two years leaves open the evolution of the city's rental market and demand by the time the apartments are ready.
