Share
100% funded by 94 investors
CLARA
Odemira, PT
instalment
monthly
term
1 year
yearly interest
5.2%
risk rating
C+
Collaborative workspace for rural development in Portugal.
Description
While Odemira is the municipality with the largest territory in Portugal, its interior has one of the lowest population densities in Europe. The CLARA project aims to reverse these negative trends, through the restoration and reconstruction of a brick factory, which previously acted as an anchor for economic and social activity in the area. The aim of the project is to give back to the population of the Alentejo region, where Odemira is located, transforming a derelict factory that once served as an economic and social anchor for the region into a Centre for Rural Future. CLARA is a collaborative workspace for research, training and innovation, promoting a creative environment where people live and work together for a specified period of time, stimulating the debate on local issues and encouraging the commitment of all involved. The loan will allow CLARA to turn this project into a reality. Also, it is backed by a co-financing contract from 'Turismo de Portugal', which is committed to refunding CLARA 50% of their expenses. 
In the first construction phase, it is necessary to install infrastructures and equipment to accommodate residents. The construction of the equipment is an architectural project and construction of the Collective Warehouse for CLARA. Partners of the project are Sustainable Construction Portal and the Circular Economy Portugal.
The Impact
Direct:
- CLARA’s vision bridges the gap between urban and rural areas, creating shared values.
- Promotes dialogue, experimentation, research, innovation, and knowledge transfer.
- Challenges patterns of thinking and behavior.
- Explores contemporary solutions for revitalizing low-density regions.
- Integrates, involves, and empowers the local community.
- Develops the Odemira region, attracting people and creating job opportunities.
- Restores ecosystems and investigates/promotes the region's full potential.
- Expands cultural offerings and improves local living conditions.
- Supports artists and designers.
- Transforms a derelict brick factory into a Centre for Rural Future.
- Hosts activities promoting eco-living, cultural activism, and ethical tourism.
- Uses sustainable materials, processes, and techniques in the rehabilitation process.
- Hot water is supplied by a solar system.
- Food supplies are organic and preferably bought from local producers.
Indirect:
- Attracts more visitors, new residents, talent, and investments to the region.
- Enhances local community skills, perspectives, and traditions.
Impact Indicators
90
people impacted
3,77
Hectares for biodiversity
Contribution to the Sustainable
Development Goals
Sustainable Development Goals
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The Promoter
About Project Earth - Valorização Sustentável de Regiões de Convergência
In 2008, after having discovered an old abandoned factory in Alentejo and realising its full potential, Diogo and Mariana bought the complex. Together, with a group of people who shared their thoughts, concerns and ideas, they created Project Earth - Associação para a Valorização Sustentável de Regiões de Convergência, a non-profit association, with the purpose of finding strategies to combat the social and economic problems deteriorating the region (a similar situation to what was happening in other rural areas in Portugal) making it attractive to future generations again by developing the potential of the factory. Project Earth quickly attracted a growing group of artists, designers, architects, psychologists, researchers and thinkers from Portugal who face the challenge of transforming rural areas. A month after it was founded, the Portuguese Ministry of Culture recognised Project Earth as an Association of Cultural Interest.
Business Model
Project Earth is a non-profit association, fully dedicated to the development of CLARA. The association’s revenues mainly come from the events hosted and organised by CLARA and public subsidies for culture and rural development. CLARA is based in Odemira, Portugal and its goal is to carry out activities such as residences, cultural events, workshops and conferences encompassing many different art disciplines mainly for the locals in the Alentejo region. It is also a collaborative workspace for research, training and innovation, promoting a creative environment where people live and work together. They want to improve local living conditions, support artists and designers and attract more visitors, new residents, talent and investments to the region.
Active since
2017
Fiscal country
PT
Operating In
Odemira
Industry
Agriculture
Number of Goparity Loans
1
Women Shareholders
Yes
Website
https://claralab.org/homeUpdates
2021-11-04
Change in risk classification
This project has received the risk classification R, due to the fact that its loan restructuring (which happened on January 21st 2021) implied an increase of the loan term of at least 12 months.
2020-04-28
Loan terms were restructured
Besides the delay on the payment of a subsidy from Turismo de Portugal, the recent COVID-19 outbreak also affected the promoter's financial situation. Therefore, Project Earth asked for a change in the terms of CLARA’s loan. The new conditions consist of the introduction of a 6 month grace period and a project extension for the same duration. 97% of the investors agreed.
2020-04-03
Project in arrears
The still missing support from Turismo de Portugal meant CLARA was not able to pay on the scheduled date.
2020-03-03
Project in arrears
The still missing support from Turismo de Portugal meant CLARA was not able to pay on the scheduled date.
2020-02-02
Application to H2020
Application to CULTOUR, H2020 Program that is part of a bigger program called TRANSFORMATIONS - Innovative approaches to urban and regional development through cultural tourism. This project forecasts a total support of €3,8M, from which €423.000 will be invested in pilot project CLARA.
2020-01-03
Project in arrears
Due to a delay in the release of the funds from Turismo de Portugal, CLARA missed liquidity to pay January's payment on time. The payment was regularized on the 24th of that month.
2019-08-30
Kitchen all set
CLARA’s kitchen and outdoor dining area reinforces its food culture program, adding value to organic production and to other local producers. The outdoor space is vast and offers numerous opportunities for outdoor leisure and work activities. The promoter started a regeneration process by planting trees, creating a water reserve system and starting their own organic food production. Visitors are invited to participate in the process.
2019-08-01
Bathrooms up and running
The bathroom area, divided in 4 blocks, is equipped with 10 toilets, 8 showers, and 10 washbasins. Hot water is supplied by a solar system and drinking water is available.
2019-07-15
Clara Camp Site On
CLARA Camp, located at west side of the property, consists of 20 large, very comfortable and warm tents with wooden floors, mattresses, pillows and duvets, providing the ideal environment to relax after a productive day
2019-07-03
1st payment
First instalment was paid to all the investors
2019-07-01
Partial restoration of the factory building
The building was cleaned, non-structural elements were removed, part of the roof that had fallen was repaired and part of the new rainfall drainage system was installed.
2019-05-28
100% funded
2019-05-27
Open for investment
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