Plans for Torrox housing cooperative announced

The Spanish confederation of housing and rehabilitation cooperatives (Concovi) has endorsed the signing of an agreement to develop a 140-unit cooperative housing project in Torrox on the eastern Costa del Sol.

The agreement will see an estimated investment of around 38 million euro and the project will be built on land located in the URP 12 urban development sector, approximately 300 metres from the beach. The project will be managed by ADU Asesores, a management company approved by Concovi and will be designed and built using the cooperative housing model, with homes being built at cost price by the beneficiaries themselves.

Of the total number of planned homes, 40 per cent will be subject to some form of public subsidy, while the remaining 60 per cent will be allocated to the open market. This approach aims to combine subsidised and open-market housing within the same development, in a context of strong residential demand on the eastern Costa del Sol, as reported by Concovi in a press release.

According to Concovi, the agreement is part of its strategy to promote residential projects through cooperative models and facilitate access to housing through participatory approaches. The organisation advocates for future homeowners to be involved from the earliest stages of project definition.

Following the signing of the land purchase agreement, a process for incorporating interested cooperative members will begin. The goal is to structure demand from the outset and allow participants to self-build their homes according to their needs and preferences.

Concovi says that central to its philosophy is to "put people at the centre" so that they are involved from the beginning of the project and fully participate in defining what they want their homes to be like.

The project comes at a time of strong urban development activity in Torrox. The town has significant residential developments in the pipeline in areas such as Calaceite and Puerto Narixa, where projects that were halted after the 2008 financial crisis and subsequently by the pandemic have been revived in recent years.

In Puerto Narixa, developers have planned 2,000 market-rate homes, with an initial phase of 111 properties under the name Sea Views by Puerto Narixa. The project is part of an area that began to be developed two decades ago and has now regained momentum due to national and international demand.

The success of Puerto Narixa reflects the current state of the residential market in Torrox, where thousands of homes are expected to be built in the coming years. The eastern Costa del Sol has established itself as an area of growing interest for both Spanish and international buyers, attracted by its proximity to the coast, transport links and prices that are still lower than in other parts of the province.

The project's implementation will now depend on the incorporation of cooperative members and the development of the necessary technical, economic, and administrative phases to convert the land located 300 metres from the beach into a development of 140 homes.