Tenerife to Invest Over €50.2M in Affordable Homes

Tenerife is set to invest over 50.2 million euros in new publicly funded affordable housing projects. This significant funding boost comes from an expanded agreement between the Canarian Housing Institute (Icavi) and the Island Council.

The total budget increased by more than 5.2 million euros, mainly to cover updated costs for two upcoming developments. Of this extra funding, the Canary Islands Government will provide nearly 3 million euros, with the Tenerife Island Council contributing over 2.2 million euros.

This agreement will enable the construction of seven affordable housing developments across seven municipalities in Tenerife: Güímar, Los Realejos, San Miguel, El Rosario, Santiago del Teide, El Sauzal, and Granadilla de Abona. Five of these projects have already been approved, with an estimated total investment of 45 million euros. These details were officially published yesterday in the Official Gazette of the Canary Islands (BOC), following an addendum approved by Icavi on December 29.

The BOC also announced plans for 21 new affordable housing units in La Victoria de Acentejo. This project, managed by Icavi, has a budget exceeding 4.4 million euros. The Canary Islands Government is funding 60% (nearly 2.7 million euros), and the Tenerife Island Council is covering 40% (nearly 1.8 million euros). The Island Council will oversee the bidding, contracting, and construction, while the local council will provide the land. The homes will be built on a 2,256 square meter plot on general road TF-217 (numbers 133 and 135), with construction expected to take 20 months. The plan also includes developing the surrounding land with essential services for future residents.

Another project highlighted in the BOC is the construction of 24 affordable housing units in Arafo, budgeted at 4.8 million euros. Icavi is contributing nearly 2.9 million euros, and the Tenerife Island Council over 1.9 million euros. The Arafo City Council is supporting the initiative by providing the land and the urbanization plans for the street where the development will be located. This project covers everything from design and construction management to building the 24 homes and installing necessary services on the plot. The homes will be on Antonio Hernández Rodríguez Street, at the corner of Nivaria Street, on municipal land that will be given to Icavi free of charge. The Island Council will manage these works, which are also expected to take 20 months. Once finished, the homes will be transferred to Icavi for registration, classification as protected rental properties, and inclusion in the public housing stock.

In the Marazul area of Arona, 59 affordable housing units and 59 parking spaces are planned, with an initial budget of 11.4 million euros and a 20-month construction timeline. This is part of a larger initiative by the Canarian Housing Institute, backed by European Union Next Generation funds, which aims to build a total of 134 affordable homes across Tenerife with an overall investment of nearly 24 million euros. Arona's Mayor, Fátima Lemes, emphasized that this project addresses a key concern for local residents, highlighting how effective planning and cooperation between different authorities are creating real solutions for citizens.