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What is the booming Buenos Aires area, preferred by young people to live, work and go out to eat? - Infobae
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Cuál es la zona porteña en auge, preferida por los jóvenes para vivir, trabajar y salir a comer
Se destaca por sus desarrollos de viviendas en edificios bajos y diversificada oferta comercial y gastronómica
www.infobae.com
January 28, 2024
It stands out for its housing developments in low buildings and diversified commercial and gastronomic offer.
By José Luis Cieri
The Donated Holmberg Corridor (DoHo) continues to consolidate with the construction of modern homes and a commercial promenade focused on gastronomy (Courtesy: San Román Propiedades)
Over approximately 14 years, meticulous planning and public bidding led by the City government led to the commercialization of land that, thanks to real estate developers, became buildings of up to 6 levels.
These buildings caught the attention, mostly, of a young public that continues to trust in this Buenos Aires enclave, strategically located between the neighborhoods of Villa Ortúzar and Villa Urquiza, in the vicinity of the Belgrano R and Coghlan stations of the Miter railway.
This neighborhood consolidated itself as a trendy epicenter , standing out as a successful example of urban reconversion.
The area located in the northern part of the city of Buenos Aires, delimited by the parallel streets Donado/Holmberg (hence the name DoHo Corridor ) between La Pampa and Monroe Avenue, has undergone a drastic transformation in recent decades.
“Its attractiveness lies in its ability to attract the young demand that chooses it both to reside and to carry out activities such as teleworking, enjoy gastronomic options and stroll through this Buenos Aires enclave, which is also located in proximity to General Paz Avenue” Román Paikin , from San Román Propiedades, told Infobae.
Area where the greatest expansion of the Donado Holmberg Corridor is located, between Villa Urquiza, Coghlan and Villa Ortúzar
From the past to the present
In the late 1970s, during the military dictatorship and under the management of the then mayor Osvaldo Cacciatore, the expropriation of all the properties that were in the planned route for an urban highway (AU-3) was carried out. . However, with the end of that process, the project was suspended, and many blocks were illegally occupied.Paikin added: “The result was a swath of demolished homes, burglarized buildings and vacant lots that transformed a previously quiet, residential neighborhood into a low-traffic and unsafe area for two decades. Some 600 properties were evicted, and their owners did not receive any compensation, leaving them deprived of the market value of their properties.”
This situation also affected the surrounding properties, located two blocks away, seeing their value decrease. “The lack of urban intervention contributed to the decline of these neighborhoods, transforming them from residential places into abandoned and unprotected areas. A sad reflection of urban negligence,” added Román Paikin.
Holmberg and Echeverría (Photo Courtesy: G&D Developers)
In 1999, with the sanction of City Law 324, the beginning of the recovery and enhancement of public space in this area was marked. The transformation continued in 2009 with the approval of Urbanization Law 3396, followed by auctions starting in August 2010.
The Urban Planning Code limited construction in this area to four stories. The official project allocated 13,084 m2 to green spaces, including a “linear public park.” In addition, new infrastructures were incorporated such as a Participatory Management Council (CGP), playgrounds, bike paths and boulevards.
And from 2010 onwards, reality changed in the area. The new buildings, mostly up to four floors plus two retreats, present amenities, commercial premises on the ground floors, mainly with a gastronomic focus.
Holmberg and Echeverría, a corner that calls for great movement
Gonzalo Bustos , from FOT Libre Terrenos, highlighted the metamorphosis of DoHo into a vibrant gastronomic circuit.
“With expansive sidewalks adorned with outdoor tables and green areas, this Buenos Aires spot became a magnet for the young public, emerging as an epicenter of fashion and trends in the urban scene. This attractive environment fuses the outdoor culinary experience with green spaces, generating a dynamic environment that tempts an audience under 45 years old,” Bustos highlighted.
Reasons for success
The DoHo Corridor was established as a strategic success during the planning management of architect Daniel Chain during the administration of Mauricio Macri as head of Buenos Aires. The initiative sought to unify two prestigious neighborhoods, Belgrano R and Villa Urquiza, which were separated by a precarious settlement, generating concern in both communities.The elimination of this obstacle allowed joint growth beneficial to both areas, and urban planning, with an appropriate height and volume scale, along with wide sidewalks and new construction, contributed to the success of the project.
Architect Gabriel Mayo , from G&D Developers (a company that built three properties in DoHo), said that “currently, the area houses a diversity of apartments ranging from 1 to 4 rooms, coexisting established families, young couples and units intended for for temporary and permanent rental. The commercial and gastronomic offer injected vitality into the neighborhood, generating a feeling of security that was previously lacking. Leading developers and architects focused their efforts on building on these lands, consolidating the reputation of the area.”
View of the area in the vicinity of Holmberg and Echeverría
However, the growth projection towards General Paz seems limited due to the lack of zoning that contemplates it, given that there is a green park that residents prefer to preserve.
“With few projects remaining due to the almost complete sale of the lots, there is a need to discover new areas in the city to encourage its expansion and beautification,” Mayo added.
The Brigadier General JM Zapiola square, located in the block of Mariano Acha, Donado, Juramento and Echeverría streets
Prices and preferred streets
In the DoHo Corridor, home prices vary depending on the number of rooms. In the case of studio apartments, the values range between USD 99,000 and USD 140,000, with an average of USD 3,350 per square meter.For 2-room apartments, prices are between USD 115,000 and USD 225,000, with an average of USD 3,900 per m2.
In the 3-room category, costs range from USD 210,000 to USD 453,000, with an average of USD 3,800 per m2.
Finally, 4-room apartments have a price range that goes from USD 360,000 to USD 444,000, with an average of USD 3,600 per m2.
Donado and Virrey del Pino, an expanding project
Daniel Cifre , from Cifre Real Estate Professionals, highlighted the “versatility of homes in low buildings with amenities. From comfortable studio apartments, highly sought after by young people looking for their first home, to 3 or 4 room units, the diversity of options in the area caters to different resident profiles. "They are homes with good windows and where the interior and exterior connection is the protagonist."
Streets in expansion and future
The main arteries, Donado and Holmberg, which make up the linear park neighborhood, concentrate the largest number of buildings with commercial premises at street level.
Expansive sidewalks and presence of all types of gastronomic menus, ice cream parlors and cafes attract demand
According to Román Paikin, the “spillover effect” extends to the perpendicular streets, especially Echeverría, which supply the demand. However, on these secondary roads, such as La Pampa, Sucre, Juramento, Mendoza and Olazábal Avenue, the lots vary in their typology and offer fewer green spaces compared to the main corridor.
Premises that were renovated in old homes stand out, being used mainly for gastronomic areas.
Donado and La Pampa. The rent of commercial premises ranges from USD 10 per m2
Among the new developments is a development that takes its final steps in Donado al 1700, between La Pampa and Virrey del Pino.
Like another one carried out by Beme Arquitectos near Plaza Zapiola. “This phenomenon is attributed to a modification in the zoning of the urban code, allowing the incorporation of aerial meters. In this sector of the neighborhood, the predominant material is exposed concrete, combined with windows and black walls, providing an avant-garde touch, according to Osvaldo Mertnoff , from the aforementioned architecture studio, told this medium.
Corner of Avenida Olazábal and Holmberg
The commercial premises offered for rent there range at a rate of USD 10 per m2, for example an 85 m2 space, on Donado in 1900, is quoted at $900,000 per month. While one of almost 200 m2 on Holmberg at 2300 is agreed at USD 1,500 per month.
Daniel Cifre concluded: “I am convinced that the area will continue to prosper over time, consolidating itself as an outstanding residential and commercial destination.”
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