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They build a US$30 million tower: The exclusive area of Buenos Aires with higher prices than in Palermo and Belgrano - La Nacion Propiedades
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Construyen una torre de US$30 millones: la exclusiva zona de Buenos Aires con precios más altos que en Palermo y Belgrano
La microzona que experimentó un desarrollo desde la década del 90 tiene a pocos metros de distancia los mejores colegios de la zona norte y mucho verde
www.lanacion.com.ar
March 12, 2024
The microzone that has experienced development since the 90s has the best schools in the northern area and a lot of greenery just a few meters away.
By Candela Contreras
The new 19-story project is located in the area known for its extensive green areas
In the northern area of Greater Buenos Aires , Olivos , known for its extensive green areas and its architecture of low houses, has a sector that is characterized as an exception to the rule: “The Island” . This corner, defined by Matías Sturiza, Comandante Leonardo Rosales, Juan Bautista Alberdi streets and the Miter and Tren de la Costa railroad tracks, experienced sustained development since the 1990s . Now, a new 19-story project emerges among the silent streets of the neighborhood.
“It is a place that began to develop in 1990 with high-quality buildings , many of which were large in size. Although there are units with two and three rooms, in general you can find from four to six rooms since it is an area where construction is intended for young families ,” says Daniel Salaya Romera, owner of the real estate company of the same name. “It is characterized by being a very residential neighborhood with large units , buildings that were designed when amenities and private security began to be incorporated,” adds Maximiliano D'Aria, director of D'Aria Propiedades.
The Island, in Olivos, is nearby train stations, access to the city, highways and high-level schools.
“The island” is also a geographical exception . “Olivos is normally flat and there is a geological outcrop where the land rises. For this reason, in the four blocks where the land naturally rises, 18-story towers had been allowed to be built, surrounded by an area where there are up to seven floors and it is very residential, with houses. That is to say, the station area before the zoning of Avenida del Libertador was modified was where the tallest buildings in all of Olivos could be built ,” says Salaya Romera. “The alteration in the floor gives a fundamental advantage for the height, since what would be the ground floor in 'The Island' is like a third floor on Libertador because it is 12 meters higher than the avenue,” adds the expert.
A unique aspect of these blocks is that they have a single entrance and exit given the direction of the streets, a fact that according to specialists in the area gives it a lot of security. To access “The Island” you must enter through Alberdi and exit through Entre Ríos from Rosales or directly through Corrientes from Rosales.
The view from the highest floors of the buildings in "The Island"
Buyers highly value the accessibility of the area. The Miter and Tren de la Costa train tracks delimit the place, which is also located a few steps from Avenida del Libertador and a 10-minute drive from the access to the General Paz highway and Lugones Avenue. In addition, young families who move here have the best schools in the country such as San Andrés, Northlands, San Lucas, San Nicolás and others such as Huerto de Olivos or San Gabriel nearby.
What is the US$30 million project in “The Island” like?
In the exclusivity of “The Island” of Olivos, located just 13 blocks from the port, at the intersection of Guillermo Rawson and Juan Bautista Alberdi, Aura Olivos is presented as a 19-story building in an area close to schools, with connectivity and surrounded by nature . The project, which requires a total investment of US$30 million in an area of 9,535 m2, is in the construction stage. It will be completed in 2026 and aims to integrate the comforts of urban life with the natural environment that surrounds the entire neighborhood.
The project requires a total investment of US$30 million
“The decision to invest in this area of Olivos is based mainly on its strategic location close to the main urban access roads, offering an ideal connection for those seeking to balance their life between the city and the province of Buenos Aires. This makes it an attractive option for those who value nature without giving up urban comforts,” comments Ezequiel Chomer, CFO of Grupo Chomer, the company developing the project when analyzing the growing demand for properties in the area.
Shortly after the work began, 65% of the units have already been sold, which will have two to five rooms and vary from 70 to 587 square meters . Buyers can enter with a minimum of US$2,400/m² in the economy line - units equipped with the basics - and from US$3,500/m² for the premium option apartments , which are equipped with appliances. In addition, it can be accessed through a payment plan that includes a 25% advance payment, and the remaining balance distributed in 36 installments in pesos, which are updated by the index of the Argentine Chamber of Construction.
The units will be from two to five rooms.
“We observe a growing trend in the search for this type of housing , especially aimed at families with children who want to move to larger places to achieve greater comfort in a natural environment. But there is also an interest in both young people and families without children, who want to change their house for an apartment in a building that offers a variety of amenities and greater security,” says Chomer.
Sales values in the area
“ Olivos and Vicente López have for years beaten well-positioned neighborhoods such as Belgrano, Recoleta, a beautiful area of Alto Palermo, or Figueroa Alcorta in values due to the greenery, the proximity to the city and the post-pandemic paradigm, while before in those places the The value of the properties was higher than those in the northern zone,” says Diego Tejedor, manager of two Toribio Achával branches in the northern zone . In this sense, according to the latest data from ZonaProp , in Vicente López the value of a brand new unit is US$3,873/m² and in Olivos US$3,136/m² , while in the city of Buenos Aires in the Palermo neighborhood it is It is located at US$3,302/m², in Belgrano at US$3,165/m² and Recoleta at US$3,033/m² .
By having a single exit and entrance, real estate specialists agree that this gives more security to those blocks.
Despite the exclusivity of the area, there is a supply of published used properties. “This is not only related to the growth of the 'La isla' area but also to the lack of sales results, because today those who search find many options and sellers willing to listen to proposals,” says Javier Igarzabal, director of DIC Properties SA
Based on the offer published in online portals , it can be exemplified that on Rosales Street a two-room apartment of 57 m² is for sale for US$170,000, a four-room apartment of 88 m² for US$329,900, another with five rooms and 120 m². At US$269,000 , a full 177m² apartment with river views in a 15-year-old building costs US$390,000 and, if larger areas are sought, a six-room unit with 254 square meters sells for US$900,000.
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