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HORIZON EUROPE TOPIC · New European Bauhaus

Understanding capital market dynamics for increased investment in New European Bauhaus projects in neighbourhoods

HORIZON-NEB-2026-01-BUSINESS-02 — the expected outcomes as checkable statements, what evaluators look for in this topic, and the conditions that shape the proposal.

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OpenRIA · lump sumDeadline 1 December 2026around EUR 3.5 million per project

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TopicHORIZON-NEB-2026-01-BUSINESS-02
StatusOpen
CallHORIZON-NEB-2026-01 — Beautiful, inclusive and sustainable neighbourhoods for communities
DestinationInnovative funding and new business models for transformation of neighbourhoods (2026-27)
Type of actionResearch and Innovation Actions · lump sum
Opening5 May 2026
Deadline1 December 2026
Budgetaround EUR 3.5 million per project · 2 projects expected · EUR 7 million in total
Part B page limit45 pages (standard application form; check your call)
TemplateWork Programme 2026–2027 application form

Expected outcomes

Projects should contribute to all of the expected outcomes. The topic says: “Project results are expected to contribute to all of the following expected outcomes:”

  1. EO1 Project promoters, public authorities, and investors have a better understanding of the capital market demand and supply dynamics that underlie investments in projects fostering the transformation of neighbourhoods in line with the New European Bauhaus (NEB).
  2. EO2 Increased investments towards NEB-aligned projects for the sustainable and inclusive transformation of neighbourhoods.

Expected impacts named in the destination

The wider, long-term effects the destination seeks. Your outcomes feed them; they are not project deliverables.

  1. EI1 Better understanding of the contextual local conditions that drive or hinder sustainable neighbourhood developments and the uptake of NEB-aligned solutions and projects, such as capital and real estate market dynamics and socioeconomic, cultural, demographic, and climatic changes.
  2. EI2 Anticipation and consideration of future needs, functions and inhabitants (including more-than-human perspectives) of neighbourhoods and their developments towards the future.
  3. EI3 Demonstrated socioeconomic, financial, environmental, cultural, and aesthetic value of NEB-aligned solutions and projects driving the revitalisation of the built environment in neighbourhoods.
  4. EI4 Increased investment in the transformation of neighbourhoods in line with NEB through alternative, innovative, and community-based investment and ownership approaches.
  5. EI5 Community and place-based approaches that adopt a systemic perspective and use co-creation approaches with diverse local stakeholders, including marginalised or underrepresented groups or those in a vulnerable situation, and contribute to addressing pressing community challenges and needs such as homelessness and housing.
  6. EI6 ⁠Circular manufacturing, renovation, and reuse approaches in the built environment contribute to the sufficient use of resources and space.

What evaluators will look for in this topic

Expected outcomes

  • Projects should contribute to all of the expected outcomes.
  • For each outcome (EO1 to EO2), name who will use or adopt your results (a specific group, not “industry” or “society”), how they get them, and the indicator that shows the change, with baseline, target and date.
  • Use the topic's own words for each outcome, so the evaluator can tick it off.

What the scope asks for

Evaluators check the proposal against these sentences of the scope. Answer each one visibly, in the call's own words.

  • “Proposals are expected to address all of the following:.”
  • “The investment solution is expected to: Leverage place-based impact investing approaches and is encouraged to combine them with other diverse and out-of-the-box investment approaches, frameworks, or funding schemes that contribute to social, environmental, aesthetic, and cultural impact in neighbourhoods.”
  • “Projects are expected to integrate and build upon the New European Bauhaus Investment Guidelines.”
  • “Proposals are expected to follow a participatory and transdisciplinary approach through the integration of different actors and disciplines.”
  • “Proposals are expected to allocate at least 0.8% of their budget for engaging with the Horizon Europe-funded 'New European Bauhaus hub for results and impact' to share their intermediate and final results, findings and learnings, as well as to contribute to impact assessment.”

Conditions that shape the proposal

  • Part B, sections 1–3: 45 pages (standard application form). Text beyond the limit is not read; tables and figures count.
  • Lump sum: the budget is fixed per work package and paid when each work package is completed. Every work package needs activities and deliverables an evaluator can verify, and the effort must match the money.

Impact pathway and traps

  • Policy or regulation is in scope. Name the policy owners you will reach and what you will give them.
  • Keep outputs, outcomes and impacts apart: what you deliver, what changes when others use it, and the long-term effect.
  • For each destination impact you claim, show which of your outcomes feeds it. Destination impacts are long-term effects, not project deliverables.
  • Name the barriers outside the project (regulation, markets, user behaviour) that could block uptake, and what you will do if they do.
  • Section 2.3 (the summary canvas) is optional on this call; the old split into scientific, economic and societal impact is no longer required.
The scope, as published

Increased investment in projects for the transformation of neighbourhoods in line with the New European Bauhaus (NEB) may be hindered due to a discrepancy between the demand and supply of capital in terms of size, diversity, returns, and risk. Small-scale NEB-aligned projects typically encounter large, short-term oriented, and highly risk-averse investment funds, which seek investment opportunities able to absorb large amounts of funding, driven by present legislation. Place-based impact investing is an approach that can contribute to investments in NEB-aligned neighbourhood projects by providing risk-adjusted financial returns while creating local social, cultural, aesthetic and environmental value and by helping to meet local needs in terms of community well-being, social inclusion, local economic resilience, and sustainable development. There is a need for research to understand the capital demand and supply-side aspects that influence and shape investments in NEB-aligned neighbourhood projects and to identify appropriate mechanisms to attract increased investment. Proposals are expected to address all of the following: Analyse the capital market dynamics that influence investments in NEB-aligned projects for the transformation of neighbourhoods. This includes analysing at least the following: The size, scale, and diversity as well as the barriers, risks, and drivers of capital market demand and supply for NEB-aligned projects. The context of NEB-aligned investment projects, including political, financial, economic, regulatory, and cultural dimensions. Based on the above, develop an innovative investment solution that addresses and leverages the analysed capital market dynamics towards increased investment in NEB-aligned projects. The investment solution is expected to: Leverage place-based impact investing approaches and is encouraged to combine them with other diverse and out-of-the-box investment approaches, frameworks, or funding schemes that contribute to social, environmental, aesthetic, and cultural impact in neighbourhoods. This may include the use of innovative digital financial instruments, platforms for community co-investment, or blockchain-enabled transparency mechanisms, among others. Determine the types of capital (including, but not limited to, impact funds, real estate investors, family and pension funds, philanthropists, donors, and insurance companies) that can be mobilised and validate how to mobilise them. Provide recommendations for decision-making on avenues to secure future funding and financing. Support investors to assess the investment potential and returns (including economic, social, cultural, aesthetic and environmental) of NEB-aligned neighbourhood projects. Conduct the above analysis and validate the developed solution in at least three different Member States and/or Associated Countries. Projects are expected to integrate and build upon the New European Bauhaus Investment Guidelines. Proposals are expected to follow a participatory and transdisciplinary approach through the integration of different actors and disciplines. Proposals are expected to allocate at least 0.8% of their budget for engaging with the Horizon Europe-funded 'New European Bauhaus hub for results and impact' to share their intermediate and final results, findings and learnings, as well as to contribute to impact assessment. See definition in the Glossary section of the NEB part of the HE WP26-27. See definition in the Glossary section of the NEB part of the HE WP26-27. See definition in the Glossary section of the NEB part of the HE WP26-27. Examples include the EU Taxonomy, Fit for 55 package, and European Social Fund (ESF+). See definition of ”beautiful” in the Glossary section of the NEB part of the HE WP26-27. See definition in the Glossary section of the NEB part of the HE WP26-27. Impact Investing Institute, ’Section 1: What is place-based impact investing?’, Impact Investing Institute website, accessed 29 September 2025, https://www.impactinvest.org.uk/learning-hub/place-based-impact-investing/what-is-place-based-impact-investing/. European Commission, ’NEB Investment Guidelines’, New European Bauhaus, accessed 5 August 2025, https://new-european-bauhaus.europa.eu/tools-and-resources/neb-investment-guidelines_en. Sections of particular relevance for applicants to consider include: 1. Introduction; 2. Mapping the NEB; 4.4 Project risks; 5. Making the NEB case; and 6. Conclusions. See definition in the Glossary section of the NEB part of the HE WP26-27. See definition in the Glossary section of the NEB part of the HE WP26-27.

Other topics in HORIZON-NEB-2026-01

Source and attribution

Topic text from the official topic page on the EU Funding & Tenders Portal, retrieved 19 October 2026. © European Union, reused under Commission Decision 2011/833/EU (CC BY 4.0). Changes: the expected outcomes and impacts are split into numbered statements, long passages are shortened, and the evaluator checklist is GrantWise's own commentary. Your call and the Work Programme always win; check them before you submit. GrantWise is independent and not affiliated with, endorsed by, or acting on behalf of the European Commission.