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Nuevo Madero: what the real estate transformation of an old Buenos Aires industrial district is like, steps from the river - Infobae
Source:
www.infobae.com
October 16, 2023
The construction boom is focused on Paseo del Bajo where residential and mixed-use buildings are being built with investments of more than USD 400 million. Demand characteristics
By José Luis Cieri
On the Paseo del Bajo there are several proposals for housing and mixed uses that are modernizing this part of southern Buenos Aires (Courtesy: Consultatio)
In the midst of real estate expansion in the Autonomous City of Buenos Aires, the area of Paseo del Bajo stands out, which extends from Brasil Avenue and the descent of the 25 de Mayo Highway, to the Retiro toll on the Illia Highway. This area includes an access branch to the Retiro Bus Terminal and a direct connection with the Port of Buenos Aires.
In this area, called “Nuevo Madero”, several premium buildings are being built for housing and mixed uses, attracting funds exceeding USD 400 million. This investment is driving the growth and revitalization of the area, turning it into an important focus for urban and economic development, after a past where warehouses, port workshops and printing industries prevailed.
Its proximity to Puerto Madero and the influence of Paseo del Bajo, one of the most prominent infrastructures in the city, have made it an attractive space.
The Buenos Aires government has invested more than USD 650 million in projects such as the Metrobús and Paseo del Bajo and the renovation of the park, which has promoted private real estate development.
Part of the well-known Nuevo Madero area between Puerto Madero, Monserrat and San Telmo and close to other Buenos Aires neighborhoods.
Román Andrés Paikin, from San Román Propiedades, told Infobae :“Next to Dike I and Dike II of Puerto Madero, and the influence of the Bajo Park, which extends between Moreau de Justo and Huergo avenues, a series of buildings that offer privileged views, due to the low height of the Docks of the Argentine Catholic University (UCA) towards the river. Although it is technically part of the San Telmo and Monserrat neighborhoods, the developers have renamed it Nuevo Madero.”
A building inaugurated 10 years ago, Quartier Urbano on Huergo and Independencia Avenues (Photo Courtesy: San Román Propiedades)
Currently, emblematic buildings coexist there such as the CGT, the Secretariat of Agriculture, Livestock and Fisheries, the Anmat, the Senasa, the Faculty of Engineering, the Otto Krause College, the Identification of the Federal Police, the Ministry of Security and the General Administration of Ports.
There are also the former workshops of the newspaper La Prensa, the Quartier Urbano Studios building, among others that involve mixed uses.
Image from more than 80 years ago when the area was port-industrial. Today it is in clear recovery (General Archive of the Nation)
The developers highlight that this constantly evolving area is a “testimony of the dynamism and urban change in CABA.”
It attracts a diverse audience, including young students who take advantage of the proximity to several universities, such as the UCA, the Faculty of Engineering of the University of Buenos Aires, the Universidad Argentina de la Empresa (UADE) and the Universidad Abierta Interamericana (UAI).
The workshops and editorial office of the newspaper La Prensa, in Azopardo and Chile, another historic building in the area (San Román Propiedades)
“The new complexes offer a wide range of amenities, including swimming pools, multipurpose rooms (SUM), barbecues, gyms and laundry services. In addition, landscaped spaces, terraces and coworking spaces are designed to adapt to modern needs,” Paikin added.
In this growing area, properties ranging from studio apartments to 3-bedroom units are being built.
Paikin noted: “Prices range from USD 120,000 to USD 385,000, or in terms of value per square meter, they range between USD 2,200 and USD 5,200 in the pre-sale stage.”
Paseo del Bajo near the headquarters of the Argentine Catholic University (Photo Courtesy: San Román Propiedades)
Huergo at 400
Experts maintain that the revitalization of this new area is due, in part, to the depletion of the property inventory in Puerto Madero.
In addition, the construction of the Paseo del Bajo has effectively connected this sector with the river, an attraction that provides a plus.
View from Madero 475 towards the Puerto Madero docks (Photo Courtesy: Consultatio)
Regarding financing, Viñas explained: “An advance payment of 30% is required and the balance can be paid in 20 installments, both in dollars and pesos, using the MEP exchange rate, in which case they will be adjusted according to the variation of the index. of the Argentine Chamber of Construction (CAC)”.
They also estimate that single owners who are looking to access their first apartment, as well as adults looking for a pied-a-terre (foot on land) in Buenos Aires, whether from the interior or foreigners, buy homes in the area.
The building of the iconic Editorial Atlántida will give way to a new project.
About Azopardo and México, the iconic building that housed Editorial Atlántida will be subject to restoration and transformation thanks to investment from the private sector. Due to its historical value and emblematic importance, its original façade will be preserved, although it will undergo significant expansion and become a property intended for both homes and offices.
This ambitious renovation project will require a total investment of USD 20 million.
The building housed the editorial offices of magazines such as El Grafico, Para Ti, Billiken and Gente, among others, and the graphic printing workshops that opened in 1914 and were known as Wasserman. It was built by the Swiss-German architect Lorenzo Siegerist , the same one who built the Gath & Chaves store, among other imposing buildings.
This is how the iconic hall of the former publishing house will remain, through which journalists, photographers, designers, among other prestigious professionals who were part of several beloved labels of the Argentine media passed through (Courtesy: Grand Atlántida)
The new building was named Grand Atlántida and soon the demolition work will begin on several sections of the construction occupied by the publishing house founded by Constancio Cecilio Vigil Olid, and which operated there between 1925 and 2016 (the editorial offices of several hits from the Argentine journalism).
Pilar Estevarena , commercial leader of Grand Atlántida, told Infobae that “in addition to offering 1 and 2-bedroom properties, they have very spacious three-bedroom units that are attracting families, mostly from the southern area of CABA and the Greater Buenos Aires. The main reason is to stay in the city, but close to their previous place of residence.”
It is estimated that the transformation of this property will be completed by the end of 2025. “As for sales, we have entered the third stage, with an average value of USD 2,700 per m2,” Estevarena explained.
The new homes will have a wide connection with the outside
The urban industrial building from the first years of the 20th century will maintain its essence, but it will be rescued and transformed into a cutting-edge construction.
Another proposal is Quartier del Bajo (in front of the Huergo 475 project) from the developer Argencons, which also built Quartier Madero Urbano 10 years ago.
Quartier del Bajo, this is how the project will look (Photo Courtesy: Argencons)
The area between Huergo and Paseo Colón avenues, from Belgrano Avenue to the south, still has opportunities for new developments, and several projects have already been launched in this area.
“The projects include semi-public plazas that will provide space for contemplation and socialization. And the homes are spacious. “It is a residential complex and suitable for temporary rental, with amenities and a central plaza,” said Spina.
Works at a good pace
Currently, the works at Astilleros Catalinas Sur, located in Azopardo at 1300, are advancing with an average progress status of more than 60 percent.
This project covers an area of more than 20,000 m2 intended for mixed uses, which includes units that vary in size from 25 to 140 square meters, in addition to having 350 garages and 3 commercial premises.
Commercial premises in Astilleros Catalinas Sur (Courtesy: CMNV)
Leonardo Rodríguez Nader, CEO of CMNV, the developer, highlighted to this medium that the Nuevo Madero area attracts a diverse audience in terms of segments and public. “From neighbors who have lived in the area historically and are looking to move to complexes with excellent amenities and services to improve their quality of life, to those who value the privileged enclave of the area and the improvements in infrastructure, such as the Metrobús del Bajo, the reforms in Parque Lezama, new sidewalks and public lighting, carried out in recent years.”
Several of the properties preserve their historic facades
Likewise, this new area attracts a specific audience that resides in the south, in country areas or gated communities. For them, the area represents a solution for accommodation in the city during the week, or for families with children studying at universities in the area.
The demand for temporary rentals also stands out and is significant in this area.
Various projects are specifically designed to satisfy this need, with amenities and services designed to minimize maintenance costs, optimize the performance of the units in terms of profitability and guarantee efficient administration,” concluded Rodríguez Nader.
www.buysellba.com
Source:
Nuevo Madero: cómo es la transformación inmobiliaria de un viejo distrito industrial porteño, a pasos del río
El boom constructivo se focaliza en el Paseo del Bajo en donde se levantan edificios de viviendas y usos mixtos con inversiones por más de USD 400 millones. Características de la demanda
www.infobae.com
October 16, 2023
The construction boom is focused on Paseo del Bajo where residential and mixed-use buildings are being built with investments of more than USD 400 million. Demand characteristics
By José Luis Cieri
On the Paseo del Bajo there are several proposals for housing and mixed uses that are modernizing this part of southern Buenos Aires (Courtesy: Consultatio)
In the midst of real estate expansion in the Autonomous City of Buenos Aires, the area of Paseo del Bajo stands out, which extends from Brasil Avenue and the descent of the 25 de Mayo Highway, to the Retiro toll on the Illia Highway. This area includes an access branch to the Retiro Bus Terminal and a direct connection with the Port of Buenos Aires.
In this area, called “Nuevo Madero”, several premium buildings are being built for housing and mixed uses, attracting funds exceeding USD 400 million. This investment is driving the growth and revitalization of the area, turning it into an important focus for urban and economic development, after a past where warehouses, port workshops and printing industries prevailed.
Its proximity to Puerto Madero and the influence of Paseo del Bajo, one of the most prominent infrastructures in the city, have made it an attractive space.
The Buenos Aires government has invested more than USD 650 million in projects such as the Metrobús and Paseo del Bajo and the renovation of the park, which has promoted private real estate development.
Part of the well-known Nuevo Madero area between Puerto Madero, Monserrat and San Telmo and close to other Buenos Aires neighborhoods.
Román Andrés Paikin, from San Román Propiedades, told Infobae :“Next to Dike I and Dike II of Puerto Madero, and the influence of the Bajo Park, which extends between Moreau de Justo and Huergo avenues, a series of buildings that offer privileged views, due to the low height of the Docks of the Argentine Catholic University (UCA) towards the river. Although it is technically part of the San Telmo and Monserrat neighborhoods, the developers have renamed it Nuevo Madero.”
A building inaugurated 10 years ago, Quartier Urbano on Huergo and Independencia Avenues (Photo Courtesy: San Román Propiedades)
Currently, emblematic buildings coexist there such as the CGT, the Secretariat of Agriculture, Livestock and Fisheries, the Anmat, the Senasa, the Faculty of Engineering, the Otto Krause College, the Identification of the Federal Police, the Ministry of Security and the General Administration of Ports.
There are also the former workshops of the newspaper La Prensa, the Quartier Urbano Studios building, among others that involve mixed uses.
Image from more than 80 years ago when the area was port-industrial. Today it is in clear recovery (General Archive of the Nation)
The developers highlight that this constantly evolving area is a “testimony of the dynamism and urban change in CABA.”
It attracts a diverse audience, including young students who take advantage of the proximity to several universities, such as the UCA, the Faculty of Engineering of the University of Buenos Aires, the Universidad Argentina de la Empresa (UADE) and the Universidad Abierta Interamericana (UAI).
It is also attractive to residents looking for permanent homes, as well as investors interested in tourist and temporary rentals.
The workshops and editorial office of the newspaper La Prensa, in Azopardo and Chile, another historic building in the area (San Román Propiedades)
“The new complexes offer a wide range of amenities, including swimming pools, multipurpose rooms (SUM), barbecues, gyms and laundry services. In addition, landscaped spaces, terraces and coworking spaces are designed to adapt to modern needs,” Paikin added.
In this growing area, properties ranging from studio apartments to 3-bedroom units are being built.
Paikin noted: “Prices range from USD 120,000 to USD 385,000, or in terms of value per square meter, they range between USD 2,200 and USD 5,200 in the pre-sale stage.”
Paseo del Bajo near the headquarters of the Argentine Catholic University (Photo Courtesy: San Román Propiedades)
Recovery of an iconic property
Among the proposals that mark the change in Nuevo Madero, is Huergo 475, a project that embraces the challenge of new lifestyles in the contemporary world. It includes a wide variety of spaces dedicated to social interaction and the concept of coliving, which resembles the community residence model and shares similarities with the concept of coworking.José Ignacio Viñas, commercial director of Consultatio, told Infobae that it is essential to distinguish between two groups: buyers and future occupants. “To date, with approximately 80% of the units sold , a large part of investors chose to buy at the well. As for the future occupants, who will move in once the units are ready, the project has been conceived with a young audience in mind, encompassing students, tourists, young couples, executives and digital nomads.”
Huergo at 400
Experts maintain that the revitalization of this new area is due, in part, to the depletion of the property inventory in Puerto Madero.
In addition, the construction of the Paseo del Bajo has effectively connected this sector with the river, an attraction that provides a plus.
View from Madero 475 towards the Puerto Madero docks (Photo Courtesy: Consultatio)
Regarding financing, Viñas explained: “An advance payment of 30% is required and the balance can be paid in 20 installments, both in dollars and pesos, using the MEP exchange rate, in which case they will be adjusted according to the variation of the index. of the Argentine Chamber of Construction (CAC)”.
They also estimate that single owners who are looking to access their first apartment, as well as adults looking for a pied-a-terre (foot on land) in Buenos Aires, whether from the interior or foreigners, buy homes in the area.
The building of the iconic Editorial Atlántida will give way to a new project.
About Azopardo and México, the iconic building that housed Editorial Atlántida will be subject to restoration and transformation thanks to investment from the private sector. Due to its historical value and emblematic importance, its original façade will be preserved, although it will undergo significant expansion and become a property intended for both homes and offices.
This ambitious renovation project will require a total investment of USD 20 million.
The building housed the editorial offices of magazines such as El Grafico, Para Ti, Billiken and Gente, among others, and the graphic printing workshops that opened in 1914 and were known as Wasserman. It was built by the Swiss-German architect Lorenzo Siegerist , the same one who built the Gath & Chaves store, among other imposing buildings.
This is how the iconic hall of the former publishing house will remain, through which journalists, photographers, designers, among other prestigious professionals who were part of several beloved labels of the Argentine media passed through (Courtesy: Grand Atlántida)
The new building was named Grand Atlántida and soon the demolition work will begin on several sections of the construction occupied by the publishing house founded by Constancio Cecilio Vigil Olid, and which operated there between 1925 and 2016 (the editorial offices of several hits from the Argentine journalism).
Pilar Estevarena , commercial leader of Grand Atlántida, told Infobae that “in addition to offering 1 and 2-bedroom properties, they have very spacious three-bedroom units that are attracting families, mostly from the southern area of CABA and the Greater Buenos Aires. The main reason is to stay in the city, but close to their previous place of residence.”
It is estimated that the transformation of this property will be completed by the end of 2025. “As for sales, we have entered the third stage, with an average value of USD 2,700 per m2,” Estevarena explained.
The new homes will have a wide connection with the outside
The urban industrial building from the first years of the 20th century will maintain its essence, but it will be rescued and transformed into a cutting-edge construction.
Another proposal is Quartier del Bajo (in front of the Huergo 475 project) from the developer Argencons, which also built Quartier Madero Urbano 10 years ago.
Carlos Spina, partner and commercial director of Argencons, told Infobae that “this area is being completely converted. The first of the two towers, with delivery in 3 months, is completely sold, and the second, which is 90% sold, is advancing rapidly and is already on the tenth-floor slab.”
Quartier del Bajo, this is how the project will look (Photo Courtesy: Argencons)
The area between Huergo and Paseo Colón avenues, from Belgrano Avenue to the south, still has opportunities for new developments, and several projects have already been launched in this area.
“The projects include semi-public plazas that will provide space for contemplation and socialization. And the homes are spacious. “It is a residential complex and suitable for temporary rental, with amenities and a central plaza,” said Spina.
Works at a good pace
Currently, the works at Astilleros Catalinas Sur, located in Azopardo at 1300, are advancing with an average progress status of more than 60 percent.
This project covers an area of more than 20,000 m2 intended for mixed uses, which includes units that vary in size from 25 to 140 square meters, in addition to having 350 garages and 3 commercial premises.
Commercial premises in Astilleros Catalinas Sur (Courtesy: CMNV)
Leonardo Rodríguez Nader, CEO of CMNV, the developer, highlighted to this medium that the Nuevo Madero area attracts a diverse audience in terms of segments and public. “From neighbors who have lived in the area historically and are looking to move to complexes with excellent amenities and services to improve their quality of life, to those who value the privileged enclave of the area and the improvements in infrastructure, such as the Metrobús del Bajo, the reforms in Parque Lezama, new sidewalks and public lighting, carried out in recent years.”
Several of the properties preserve their historic facades
Likewise, this new area attracts a specific audience that resides in the south, in country areas or gated communities. For them, the area represents a solution for accommodation in the city during the week, or for families with children studying at universities in the area.
The demand for temporary rentals also stands out and is significant in this area.
Various projects are specifically designed to satisfy this need, with amenities and services designed to minimize maintenance costs, optimize the performance of the units in terms of profitability and guarantee efficient administration,” concluded Rodríguez Nader.
www.buysellba.com
