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Move to Microcentro: What is the current status of the urban reconversion initiative? - Infobae
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Mudate al Microcentro: ¿cuál es el estado actual de la iniciativa de reconversión urbana?
Un esquema crediticio del Banco Ciudad impulsa el proyecto de recuperación de una de las áreas porteñas más afectadas por la pandemia y la crisis económica. Condiciones y requisitos
www.infobae.com
May 13, 2024
A Banco Ciudad credit scheme promotes the recovery project of one of the Buenos Aires areas most affected by the pandemic and the economic crisis. Conditions and requirements
By José Luis Cieri
Diagonal Norte, next to Bartolomé Miter and Florida. The aim is for this area to recover the shine of other times through the Move to Microcentro plan.
Within the framework of the “Move to the Microcenter” plan, Banco Ciudad introduced a series of mortgage credit lines designed to support this ambitious urban reconversion project. To revitalize downtown Buenos Aires, these loans offer financing options for both the acquisition and the renovation, improvement and expansion of existing homes, in order to promote the development and investment of a key area of the metropolis.
The Buenos Aires Government aspires to transform the “15-minute City” between 9 de Julio, Santa Fe, Belgrano and Huergo Avenues, bordering Puerto Madero. The area, vibrant before the pandemic, changed drastically with the rise of post-Covid 19 teleworking, the departure of companies and the emptying of offices and premises.
Banco Ciudad loans stand out for allocating financing amounts of up to $250,000,000 with terms of up to 20 years, under the Purchasing Value Units (UVA) system, thus guaranteeing the adjustability of the installments against inflation. They are intended for a variety of housing purposes, covering both single and permanent housing and properties for non-permanent use, covering a wide geographical spectrum within the area of influence of Banco Ciudad, which includes, in addition to CABA, provinces such as Córdoba, Mendoza, Tucumán and Salta.
Gastón Rossi , director of Banco Ciudad, told Infobae that there was a great response, “with 16,000 already registered and a large percentage of people and families interested in buying homes located in downtown Buenos Aires.”
The area in question that includes part of the neighborhoods of San Nicolás, San Telmo and Monserrat
A distinctive aspect of these credit lines is the offer of a preferential interest rate of 3.5% plus UVA for those who wish to acquire their single family home for permanent occupancy with financing from the Fund for Urban Development (Fodus) of an area. which includes San Juan, Entre Ríos, Santa Fe, Alem and Paseo Colón avenues. This benefit seeks to encourage the repopulation of the historical and financial center of Buenos Aires. For other residential areas, the rate is 5.5% plus UVA.
“The difference between the lines of credit focuses mainly on the interest rate, emphasizing the benefit for those who commit to the Move to Microcentro plan when choosing the downtown area for their permanent home,” Rossi clarified.
To access these loans, interested parties must demonstrate a fixed income, whether they are employees, registered responsible persons, monotributistas or self-employed, and they are asked to accredit or transfer their assets to Banco Ciudad. Financing can cover up to 75% of the value of the property and, for expansion or improvement projects, up to 100% of the budget, with the condition that this does not exceed 50% of the appraised value of the property.
Rossi added: “As requirements to begin credit management, you must present proof of the last three pay stubs, the last three credit card statements and a photocopy of your DNI.”
These credits not only facilitate access to housing in the center of Buenos Aires, but are also aligned with a vision of sustainable urban development and stimulation of investment in areas of high historical and cultural value.
In addition, Banco Ciudad has anticipated a measure to adapt to possible imbalances between inflation and salary growth. “In the event that the increase in the installment exceeds 10% of the value calculated after adjusting the capital of the loan with the Salary Variation Coefficient (CVS) since its granting, borrowers may request an extension of up to 25% of the term. original of the loan,” explained Rossi.
On going
The plan to renew the Microcenter advances through public-private articulation, seeking to create an intelligent and sustainable urban area, promoting economic activity with credits and incentives, and the revitalization of public spaces.Currently, the Ministry of Economic Development, led by Roberto García Moritán , is in charge of executing this ambitious plan. On January 31, the deadline for submitting reconversion projects closed, which, when approved, will benefit from tax incentives in credits within the Gross Income regime. Authorizations are being expedited in accordance with the formal requirements of the authorities, seeking to facilitate the process for neighbors, merchants and businessmen.
Buildings and projects that are already underway and others that will arrive to renew this part of the Buenos Aires Center (Image: Ministry of Economic Development of the Government of the city of Buenos Aires)
A Havanna establishment and the Arthaus cultural space have already been inaugurated. Of the 22 projects presented, eight have already begun initial works, including the installation of the headquarters of a renowned university, the transformation of emblematic buildings, the creation of cultural centers and residential buildings, among others.
The iconic building that formerly housed the headquarters of Banco Tornquist, located at 500 Bartolomé Miter, is among the first to be converted into homes. This building, notable for its architectural value, will retain its façade and certain internal areas due to its classification as Historical Heritage.
García Moritán highlighted: “The projects include both traditional and temporary rental proposals. Our objective is to promote permanent housing, with Banco Ciudad's line of credit being a clear example of our direction. However, we recognize the existence of a demand for temporary housing, a global phenomenon.”
Headquarters of the former Tornquist Bank, located at Bartolomé Miter 500, which will be transformed into homes
The projects cover a wide area, being significantly numerous in the vicinity of the Plaza de Mayo and the banking sector, areas that are expected to gain greater momentum and dynamism.
“Several cities around the world implemented strategies to revitalize their centers or Downtowns using various models and levels of intervention. In Buenos Aires, we are inspired by the best international examples to transform emblematic buildings, build homes, and generate cultural, educational and recreational spaces. We aspire for our Central Area to shine once again,” concluded García Moritán.
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