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An icon of downtown Buenos Aires is being renovated: which is the building that will offer housing and commercial premises steps away from the Obelisco? - Infobae
Source:
www.infobae.com
October 29, 2024
With an approximate investment of USD 110 million, the project has already begun demolition. It will have 80% of spacious studios and seeks to transform the Pasaje Carabelas into a new gastronomic hub. Who is behind this start-up?
By Jose Luis Cieri
With its own park on the terrace and an infinity pool with a view of the Obelisco, this will be the final touch to the Edificio del Plata
In the heart of Buenos Aires, the Edificio del Plata is preparing for a significant transformation that seeks to revitalize the Microcentro of the city of Buenos Aires. A trust composed of IRSA, COTO and Banco Hipotecario launched an ambitious project that will require an approximate investment of USD 110 million to convert the old municipal building into a multifunctional complex that will include housing, gastronomic spaces and green areas.
Starting tomorrow, together with Casa FOA ( the architecture and design exhibition ), the pre-sale of the first units that will revitalize the former Mercado del Plata, an iconic 60,000 square meter building located steps from the Obelisco, begins.
The Edificio del Plata, located on the block bordered by Perón, Carlos Pellegrini, Sarmiento and Pasaje Carabelas streets, was an icon of the city for decades, housing municipal offices and contravention courts.
The space is now planned to house 721 studio, one- and two-bedroom residential units, as well as duplexes, all designed with a focus on modernity and functionality.
It will have commercial premises on the ground floor by Carlos Pellegrini and by Pasaje Carabelas, which aims to become a new gastronomic hub.
The project is scheduled to open in mid-2028 and the first works have already begun with the demolition of the basements.
Jorge Cruces , Chief Investment Office (CIO) of IRSA, expressed his enthusiasm for the project: “We are very pleased with our initiative and the fact that a trust has been formed that brings together the best of the real estate market to carry out a project that -we trust- will be the starting point for the transformation of the downtown area.”
The development will not only focus on housing. On the ground floor, a gastronomic area will be established that will offer a variety of culinary proposals to enjoy outdoors.
In addition, the project will integrate the Pasaje Carabelas as a green space, promoting community interaction and recreation. The intention is to create a new gastronomic hub there.
This is what the former Mercado del Plata looks like today, now it will also be the headquarters of Casa FOA
Gervasio Ruiz de Gopegui , IRSA's project manager, told Infobae : “We have high expectations that this development will be a spearhead for reconverting downtown Buenos Aires, which was hit hard by the pandemic. We believe it will attract young people and individuals or families looking for all services. It is steps away from three subway stations, the Metrobus and close to several colleges.”
It is estimated that people from the interior or abroad could be potential interested parties, especially those who come to study or wish to have a pied-à-terre (one foot in CABA) to work, go to the theater or tour the city.
“Also, since the Rental Law was repealed and it became profitable again to buy to rent, in addition to the end user, we estimate that there will be investors interested in obtaining a good annual return” said Ruiz de Gopegui.
Spacious and bright studio apartments with 3.60 meters from floor to ceiling
Once inaugurated, owners and tenants will not need keys, as the building will have an electromagnetic entry system for the homes and facial recognition. For packages and shipments, there will be a special area that will allow deliveries to be stored until residents can pick them up at the corresponding location.
The planned amenities include an indoor and outdoor pool on the terrace, a gym, a health center, a coworking area, and a multipurpose room.
A rooftop bar with views of the Obelisco is also planned, as are pre-connections for electric cars in each garage, and spaces for bicycles and storage rooms. An estimated 250 car storage spaces are planned.
With an indoor pool among the amenities
The project, designed by Aisenson studio and directed by engineer Eduardo Sposito, is part of the city government's plan to renovate downtown Buenos Aires. Samsung has joined as a technology partner, while TMF acts as a trustee.
The Carabelas Passage connects Juan Domingo Perón and Sarmiento streets
The price of the first units to go on sale will start at USD 3,000 per square meter, with a projection of reaching USD 5,000 in the future.
The largest apartments will have a surface area of around 200 square metres and will have large balconies.
The renovation of the former Mercado del Plata is expected to be completed between mid and late 2028
The infinity pool will be a plus for those who live in the building, with a direct view of the Obelisco and Avenida 9 de Julio. We believe that there will be a quick response from the public, so we estimate that sales prices will tend to rise quickly. The finishes of the apartments are not yet defined, but very resistant materials will be used, concluded Ruiz de Gopegui.
www.buysellba.com
Source:
Un ícono del centro porteño se renueva: cuál es el edificio que ofrecerá viviendas y locales comerciales a pasos del Obelisco
Con una inversión aproximada de USD 110 millones, el proyecto ya inició la demolición. Tendrá un 80% de monoambientes amplios y busca transformar el Pasaje Carabelas en un nuevo polo gastronómico. Quiénes están detrás de esta puesta en marcha
www.infobae.com
October 29, 2024
With an approximate investment of USD 110 million, the project has already begun demolition. It will have 80% of spacious studios and seeks to transform the Pasaje Carabelas into a new gastronomic hub. Who is behind this start-up?
By Jose Luis Cieri
With its own park on the terrace and an infinity pool with a view of the Obelisco, this will be the final touch to the Edificio del Plata
In the heart of Buenos Aires, the Edificio del Plata is preparing for a significant transformation that seeks to revitalize the Microcentro of the city of Buenos Aires. A trust composed of IRSA, COTO and Banco Hipotecario launched an ambitious project that will require an approximate investment of USD 110 million to convert the old municipal building into a multifunctional complex that will include housing, gastronomic spaces and green areas.
Starting tomorrow, together with Casa FOA ( the architecture and design exhibition ), the pre-sale of the first units that will revitalize the former Mercado del Plata, an iconic 60,000 square meter building located steps from the Obelisco, begins.
The Edificio del Plata, located on the block bordered by Perón, Carlos Pellegrini, Sarmiento and Pasaje Carabelas streets, was an icon of the city for decades, housing municipal offices and contravention courts.
The space is now planned to house 721 studio, one- and two-bedroom residential units, as well as duplexes, all designed with a focus on modernity and functionality.
It will have commercial premises on the ground floor by Carlos Pellegrini and by Pasaje Carabelas, which aims to become a new gastronomic hub.
The project is scheduled to open in mid-2028 and the first works have already begun with the demolition of the basements.
Jorge Cruces , Chief Investment Office (CIO) of IRSA, expressed his enthusiasm for the project: “We are very pleased with our initiative and the fact that a trust has been formed that brings together the best of the real estate market to carry out a project that -we trust- will be the starting point for the transformation of the downtown area.”
The development will not only focus on housing. On the ground floor, a gastronomic area will be established that will offer a variety of culinary proposals to enjoy outdoors.
In addition, the project will integrate the Pasaje Carabelas as a green space, promoting community interaction and recreation. The intention is to create a new gastronomic hub there.
This is what the former Mercado del Plata looks like today, now it will also be the headquarters of Casa FOA
Gervasio Ruiz de Gopegui , IRSA's project manager, told Infobae : “We have high expectations that this development will be a spearhead for reconverting downtown Buenos Aires, which was hit hard by the pandemic. We believe it will attract young people and individuals or families looking for all services. It is steps away from three subway stations, the Metrobus and close to several colleges.”
It is estimated that people from the interior or abroad could be potential interested parties, especially those who come to study or wish to have a pied-à-terre (one foot in CABA) to work, go to the theater or tour the city.
“Also, since the Rental Law was repealed and it became profitable again to buy to rent, in addition to the end user, we estimate that there will be investors interested in obtaining a good annual return” said Ruiz de Gopegui.
Building without keys
Since the building has an industrial origin (in 1947, the then Municipality of Buenos Aires promoted the construction of a building for offices and a market on the ground floor. The old Mercado del Plata was demolished in 1950, and construction was completed in 1961), the studio apartments will be 3.60 meters high from floor to ceiling, all with balconies, will be bright and will represent 80% of the properties in the Edificio del Plata.
Spacious and bright studio apartments with 3.60 meters from floor to ceiling
Once inaugurated, owners and tenants will not need keys, as the building will have an electromagnetic entry system for the homes and facial recognition. For packages and shipments, there will be a special area that will allow deliveries to be stored until residents can pick them up at the corresponding location.
The planned amenities include an indoor and outdoor pool on the terrace, a gym, a health center, a coworking area, and a multipurpose room.
A rooftop bar with views of the Obelisco is also planned, as are pre-connections for electric cars in each garage, and spaces for bicycles and storage rooms. An estimated 250 car storage spaces are planned.
With an indoor pool among the amenities
The project, designed by Aisenson studio and directed by engineer Eduardo Sposito, is part of the city government's plan to renovate downtown Buenos Aires. Samsung has joined as a technology partner, while TMF acts as a trustee.
Mortgage loans
Banco Hipotecario will offer loans that will cover up to 80% of the value of the units. With USD 16,000, you can access studio apartments with UVA plans for up to 30 years. They can be processed completely digitally.
The Carabelas Passage connects Juan Domingo Perón and Sarmiento streets
The price of the first units to go on sale will start at USD 3,000 per square meter, with a projection of reaching USD 5,000 in the future.
The largest apartments will have a surface area of around 200 square metres and will have large balconies.
The renovation of the former Mercado del Plata is expected to be completed between mid and late 2028
The infinity pool will be a plus for those who live in the building, with a direct view of the Obelisco and Avenida 9 de Julio. We believe that there will be a quick response from the public, so we estimate that sales prices will tend to rise quickly. The finishes of the apartments are not yet defined, but very resistant materials will be used, concluded Ruiz de Gopegui.
www.buysellba.com
