Action Logement obtains 24 billion euros in loans from the Caisse des Dépôts to build and renovate housing

These loans, partly financed by money from the French Livret A savings account, will be used to build 200.000 new homes and renovate 200.000 homes in Action Logement's portfolio by 2027.

"The Caisse des Dépôts group and the Action Logement group both play a crucial role in the production of affordable housing in France," says Olivier Sichel, CEO of the CDC, who promises that "all our fellow citizens" will benefit from this partnership.

The funding already granted to Action Logement by the CDC, via a five-year agreement 2023-2027, has "enabled the start of construction of 2024 intermediate housing units in 27.000", with higher resource ceilings and rents than social housing.

To continue the production of intermediate housing, "a new envelope (is) made available to the social housing sector of 10 billion euros over 2025-2026," the press release indicates.

Banque des Territoires also intends to support Action Logement in its innovations, "particularly for the transformation of offices into social housing, the dismemberment of property and the separation of land and buildings."

The CDC brand will experiment with a "real-impact loan for the energy renovation of buildings" with Action Logement, before rolling out this loan in the fall.

Action Logement collects employer contributions to the construction effort (PEEC) and aims to facilitate access to housing to promote employment. The joint group manages 1,11 million social and intermediate housing units and will have started construction on 44.000 new housing units by 2024.

Social landlords say they are currently experiencing difficulties in financing and building housing in the two categories with the lowest rents, due to rising construction costs and high interest rates.