Madrid Housing Plan Faces Political Criticism

A local collective is protesting a proposed urban development project near the Manzanares river in Madrid. The announcement follows a local street art festival where residents voted on various works. Demonstrators in Madrid are protesting against real estate speculation and rentism. The protesters are demanding the right to housing and calling for the protection of constitutional articles 33 and 47. Neighbors affected by the sale of nearly 2,000 public apartments in Madrid gathered in front of headquarters to protest. The properties were originally sold in 2013 by former mayor Ana Botella to the investment fund Fidere. Residents face eviction as the properties are being transferred to a new fund that does not intend to renew existing contracts. The community argues that local infrastructure, such as the Samarán sports center, is already saturated. The development would add approximately 1,300 new families or apartments to the neighborhood. Rita Maestre accused Madrid Mayor Almeida of favoring investment groups and businesses over local residents during a housing plenary session. Maestre characterized the administration as representatives for investment funds like Blackstone and Nestar. Mayor Almeida questioned the proposed housing plan and said the need to increase taxes for owners of multiple properties.