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In an article for Banker & Tradesman, Aeron Hodges explores the La Borda project in Barcelona, which began a few years ago when the city moved ahead with redevelopment of a textile factory near mass transit. Architect Carles Baiges worked with the government to secure a site with a 75-year land lease and together with other residents, developed a 28-unit building for themselves to live in that rents at a fraction of average costs in the city.

Built using modular cross-laminated timber, which is aesthetically pleasing, quick to assemble, and more sustainable than conventional building materials, La Borda¡¯s units are organized around a courtyard accessed from open corridors. Residents have the security of a long-term, low-cost home, while the city¡¯s land lease effectively prevents housing speculation.