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The Buenos Aires park that was converted and attracts new real estate investments - Infobae
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El parque porteño que se reconvirtió y atrae nuevas inversiones inmobiliarias
Con una extensión de 24.000 m2, el parque impulsa proyectos y consolida propiedades en una ubicación estratégica de uno de los barrios más demandados y cotizados de Buenos Aires
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With an area of 24,000 m2, the park promotes projects and consolidates properties in a strategic location in one of the most sought-after and sought-after neighborhoods in Buenos Aires.
By José Luis Cieri
Aerial view of part of the polygon recovered by the City in the Colegiales neighborhood (Photo Courtesy: Pablo Valencia Neira)
Located between Virrey Olaguer and Feliú streets, Moldes, Federico Lacroze Avenue and the Miter railroad tracks, the old Colegiales Railway Park is undergoing a notable transformation. After the recovery by the Buenos Aires Government, the area became the epicenter of new housing projects, thus promoting pre-existing properties.
With the completion of the second stage by the Buenos Aires Ministry of Public Space and Urban Hygiene, 24,000 square meters previously unused were intervened, of which 18,000 constitute new absorbent soil.
The works included the planting of more than 177 trees, the implementation of fully LED street and pedestrian street lighting, the installation of new street furniture and the preservation of the valuable railway heritage that characterizes the place.
The inauguration of this new park not only marks a milestone in the revitalization of the space, but also has a direct impact on the quality of life of more than 80,000 local residents. This project not only increases the amount of green areas in the neighborhood, but also reconfigures the use of public space. An example of this is the connection with Plaza Juan José Paso (located on Moldes and Virrey Olaguer Feliú), thus creating an extensive green lung.
Location of the Colegiales Railway Park polygon delimited by Virrey Olaguer and Feliú streets, Moldes, Federico Lacroze Avenue and the Miter railway tracks
There are currently more than 15 buildings under construction in the surrounding area that are characterized by offering homes with a wide connection between the exterior and the amenities.
Among the proposals under development is a 9-story building with 58 units, ranging from 2 to 5 rooms, located in Vidal at 1400. This project involves an investment of 20,000,000 dollars. Diego Rybka, commercial director of Grupo Uno en Uno, told Infobae that “some of the homes will have a barbecue, large balconies, and on the ground floor of the building there will be 4 commercial premises.”
Work on the new buildings is progressing at a good pace.
Currently, various homes under construction are presented as tempting options for both young families and elderly couples looking to reduce their living space after the emancipation of their children.
Mario Gómez , director of Le Bleu Negocios Inmobiliarios, pointed out that “Colegiales has historically been an attractive area for real estate demand. Now, with the incorporation of these new green spaces, an element of significant value is added to this neighborhood located in the northern Buenos Aires corridor.”
It is a residential area that combines low-rise single-family homes with higher buildings, gradually undergoing a modernization process.
The place was revitalized so that the residents of the neighborhood and those passing through Colegiales can also enjoy it.
Pablo Valencia Neira , real estate consultant, highlighted that “this part of Colegiales benefits to a certain extent from the spillover effect generated by the growth of adjacent neighborhoods such as Belgrano and Palermo. In addition, the area is driven by a demanding housing demand. An additional factor that favors the development of this new green corridor in formation is its proximity to Avenida Cabildo, known for its commercial diversity.”
Prices
The values of housing in well in the area range from USD 2,700 per square meter. While those that are brand new range between USD 3,000 and USD 3,500 per m2.
In the homes that will arrive, the focus is on the interior connection with the exterior
One proposal is Depart, which among its amenities offers a professional kitchen with a work table, multiple burners, equipment and 3 ovens.
“The project also has a spacious, fully equipped SUM or Resident Lounge, measuring 70 m2 with direct access to the forest and a wellness center plus gym,” Rybka said.
Now it is an area integrated into the urban fabric of Buenos Aires.
Freire Street, between Federico Lacroze and Elcano avenues, became a gastronomic hub with artisanal proposals and signature cuisine.
On Concepción Arenal and Zapiola streets, well-known brands are being established. These premises are part of an extensive megaproject that covers almost 82,000 m2 and includes both commercial spaces and residential units and offices.
From abandonment to advancement
It is estimated that the Railway Park will be a magnet for new investments in the housing sector. In fact, there are other lots already marketed that could soon begin civil works.
Another development that was recently released
“The transformation of what was previously abandoned land is already evident, and the urban intervention revitalized the entire surrounding area. Second-hand properties are marketed in a range of USD 1,800 to USD 2,500 per m2, varying according to the specific characteristics of each property,” Gómez commented.
This project not only spurred greater activity in the area, improving safety through nighttime lighting, but also represents an area of continued opportunity for future improvements.
Box that was preserved as part of the former railway property
Valencia Neira concluded: “Various developments are being developed, some of high class with amenities that include studio-type units or divisible studio apartments, from 2 to 3 rooms, and several of them with generous dimensions. These projects also attract young professionals looking for spaces that allow them to work from home and reside comfortably at the same time.”
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