Fondazione Housing Sociale (FHS), based in Milan, Italy, emerged in 2004 from Fondazione Cariplo's initiative to tackle rising housing shortages beyond traditional grants. With support from Lombardy Region and ANCI Lombardia, it pioneered Italy's first ethical real estate fund, Fondo Abitare Sociale 1, later evolving into Fondo Immobiliare di Lombardia (FIL) in 2006, targeting affordable rentals for students, families, migrants, and the elderly.
By 2013, FHS shifted to a participatory foundation model, broadening its role as a sector hub. It advised on the national Sistema Integrato dei Fondi, stemming from Italy's 2009 housing plan. In Lombardy alone, as technical-social advisor to investment funds, FHS facilitated 3,000 rental units, engaged over 3,000 families in community programs, and launched six residents' associations.
Early projects included 90 dwellings in Crema and developments in Milan's Via Cenni, Via Ferrari, and Figino areas. Today, it handles urban planning, social management, financial structuring, and community monitoring for housing initiatives. Partnerships with Politecnico di Milano yield training like the Housing Social and Collaborative Master, plus manuals on social management and community design. FHS coordinates with public policies to prioritize moderate-rent housing amid economic pressures.