Why one of Argentina's coolest neighborhoods is on its way to becoming a real estate boom - Infobae
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www.infobae.com
October 12, 2024
Time Out magazine has once again ranked the circuit among the 40 best in the world and the most outstanding in Latin America. The reasons for its boom and how much it costs to live there
By Jose Luis Cieri
The balcony of an apartment about to be delivered in a development that is taking its final steps at the intersection of Carranza Street and Córdoba Avenue, in the Chacarita neighborhood (Photo Courtesy: Newland)
La Chacarita was once again highlighted by Time Out magazine as one of the 40 coolest neighborhoods in the world, ranking among the top three in Latin America . This recognition is due to its vibrant mix of tradition and modernity, where streets with urban art, innovative cafes and projects that reflect the creativity and uniqueness of the place coexist. The Buenos Aires neighborhood, also known for its famous cemetery where famous figures rest, such as musicians Carlos Gardel , Gustavo Cerati and Gilda , boxer Oscar Ringo Bonavena , and prestigious painter Benito Quinquela Martín , among others, has become a cultural epicenter that attracts both tourists and residents in search of an authentic experience.
The growing interest in Chacarita is not only due to its multifaceted offering, but also to its attractiveness for investors. The demand for properties, both for purchase and for rent, has increased significantly, partly due to the new developments that are transforming areas of the neighbourhood.
There are currently more than 35 buildings under construction that seek to renew the neighborhood (Photo Courtesy: architect Guy Kandel)
In recent years, it has undergone a significant transformation, especially with the creation of the Audiovisual District, promoted by the Buenos Aires Government.
This district covers areas of La Paternal, parts of Palermo, Colegiales, Chacarita and Villa Ortúzar. The initiative attracted companies from the audiovisual industry, generating a domino effect with the arrival of new businesses and residential projects.
"The accessibility and greenery of the neighborhood should be highlighted, as well as its unique urban planning, with a mix of heights between avenues and residential streets," he said.
La Algodonera, where the textile factory called Manufactura Algodonera Argentina operated. Today, this space houses homes and commercial premises on Avenida Córdoba and Santos Dumont.
According to Lorenzi, the urban layout is highlighted by landmarks such as the Parque Los Andes neighborhood , the Algodonera (an industrial building that was restored and now houses a shopping center and homes on the corner of Santos Dumont and Avenida Córdoba), the cemetery, and the Mirador Comastri (a building built in 1875 and declared a Site of Cultural Interest, it is an architectural symbol of the area, standing out for its iconic viewpoint. Currently, it houses the Technical School No. 34).
“This combination, along with a growing gastronomic offering and low urban density, is what makes it a cool neighborhood,” he said.
The historic housing complex designed by the famous architect Fermín Bereterbide: the Parque Los Andes neighborhood between Leiva, Rodney, Concepción Arenal and Guzmán streets, in one of the Buenos Aires layouts with the most promising real estate prospects (Photo Courtesy: Buenosaires.alpaso)
Lorenzi suggested that avenues such as Warnes and Dorrego have the potential to grow in height. To consolidate the neighborhood, it would be key to recover urban areas close to the cemeteries and protect their funerary architecture with a serious heritage program.
Beyond its reputation as a cool neighborhood, Chaca (also known as the Chacarita Juniors club, another neighborhood symbol that has its headquarters in the area and its stadium in the San Martín district) has always had its charm. “I highlight the post-pandemic gastronomic movement, with signature restaurants and bars that placed the neighborhood on the podium of Buenos Aires' offering. Its eclectic architecture, which includes old factories and chorizo houses, contrasts with modern buildings,” Castro added.
Avenida Córdoba and Jorge Newbery, another axis with houses under construction in the vicinity
Architect Guy Kandel is part of this transformation, completing the delivery of the last units of the building on Álvarez Thomas 900, with 54 homes in total. “This project is aimed primarily at a middle/upper middle class audience, with options ranging from 30 square meter studio apartments to 58 m2 one-bedroom apartments.”
Since the start of construction three years ago, prices have increased from USD 1,650 to USD 2,200 per m2. The homes, with a modern design and quality materials, include affordable studio apartments for USD 60,000 and two-room apartments for USD 125,000.
Work in progress on Álvarez Thomas Avenue at 900
“The units feature balconies, radiator heating, and pre-installed air conditioning, offering comfort and quality to future owners,” said Kandel.
This is a booming neighborhood, showing signs of growth with construction work on almost every block, particularly on Avenida Elcano (between Charlone and Roseti), where a residential complex is being built on a site that previously housed the headquarters of the Jehovah's Witnesses Association and was the headquarters of Casa FOA in 2021.
Elcano District, where Casa FOA was built in 2021 and will now be converted into a modern project
Sebastián Sommer , the project developer, said that “this area, previously used as a warehouse, has great potential for improvement in terms of urban planning, security and quality of life.”
The aim of the complex, called Distrito Elcano, is to create a unique environment that combines urban diversity with modernization, positioning itself as an autonomous neighborhood within Chacarita.
The gastronomic corridor of Jorge Newbery and Dorrego avenues, known as “Chacalermo,” is one of the hotbeds of this growth. This term reflects the influence of the Palermo Hollywood boom and turned the area into a point of interest for singles and young couples between 25 and 45 years old. The mix of signature cafes, exclusive restaurants and bicycle shops caught the attention of this modern and active public, boosting real estate demand.
Fraga neighborhood with its own square within Chacarita
Sommer said that Chacarita will combine elegant and premium proposals, with prices still below those of Palermo but comparable services. “Chacarita is like Palermo Hollywood in 2000, with warehouses, storage facilities and PH. The mix of commercial and residential uses attracts young singles and families due to its proximity to schools and services.”
What was once an area of mechanical workshops and industrial buildings, today houses bars, restaurants, vermouth bars , designer shops and cafes.
Sofía Grinberg , marketing manager at Newland, highlights that their project on Carranza Street and Avenida Córdoba is in the final stages of construction and the first homes will be available in the first months of 2025. The units are being finished with equipped kitchens and bathrooms, and the common spaces such as the SUM, gym, laundry and coworking are being furnished.”
Charlone and Maure (Photo Courtesy: Buenosaires.alpaso)
The “overflow” of Palermo has extended its influence to Chacarita, which now competes with gastronomic hubs and trendy spaces . Its good connectivity and proximity to avenues facilitate access to other areas.
“Despite the growth, it remains low-density and high-demand, with prices starting at USD 2,530/m2, flexible financing and attractiveness for both investors and young people looking for modernity and tranquility,” concluded Grinberg.
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Por qué uno de los barrios más cool de Argentina está en camino a convertirse en un boom inmobiliario
La revista Time Out volvió a posicionar al trazado entre los 40 mejores del mundo y lidera en América Latina. Las causas de su auge y cuánto cuesta vivir allí
www.infobae.com
October 12, 2024
Time Out magazine has once again ranked the circuit among the 40 best in the world and the most outstanding in Latin America. The reasons for its boom and how much it costs to live there
By Jose Luis Cieri
The balcony of an apartment about to be delivered in a development that is taking its final steps at the intersection of Carranza Street and Córdoba Avenue, in the Chacarita neighborhood (Photo Courtesy: Newland)
La Chacarita was once again highlighted by Time Out magazine as one of the 40 coolest neighborhoods in the world, ranking among the top three in Latin America . This recognition is due to its vibrant mix of tradition and modernity, where streets with urban art, innovative cafes and projects that reflect the creativity and uniqueness of the place coexist. The Buenos Aires neighborhood, also known for its famous cemetery where famous figures rest, such as musicians Carlos Gardel , Gustavo Cerati and Gilda , boxer Oscar Ringo Bonavena , and prestigious painter Benito Quinquela Martín , among others, has become a cultural epicenter that attracts both tourists and residents in search of an authentic experience.
The growing interest in Chacarita is not only due to its multifaceted offering, but also to its attractiveness for investors. The demand for properties, both for purchase and for rent, has increased significantly, partly due to the new developments that are transforming areas of the neighbourhood.
There are currently more than 35 buildings under construction that seek to renew the neighborhood (Photo Courtesy: architect Guy Kandel)
In recent years, it has undergone a significant transformation, especially with the creation of the Audiovisual District, promoted by the Buenos Aires Government.
This district covers areas of La Paternal, parts of Palermo, Colegiales, Chacarita and Villa Ortúzar. The initiative attracted companies from the audiovisual industry, generating a domino effect with the arrival of new businesses and residential projects.
Why is it cool?
Fernando Lorenzi , architect of the INFILL studio, highlighted to Infobae that this is a neighborhood “with identity,” defined by its clear boundaries and an essence that can be felt when walking through it."The accessibility and greenery of the neighborhood should be highlighted, as well as its unique urban planning, with a mix of heights between avenues and residential streets," he said.
La Algodonera, where the textile factory called Manufactura Algodonera Argentina operated. Today, this space houses homes and commercial premises on Avenida Córdoba and Santos Dumont.
According to Lorenzi, the urban layout is highlighted by landmarks such as the Parque Los Andes neighborhood , the Algodonera (an industrial building that was restored and now houses a shopping center and homes on the corner of Santos Dumont and Avenida Córdoba), the cemetery, and the Mirador Comastri (a building built in 1875 and declared a Site of Cultural Interest, it is an architectural symbol of the area, standing out for its iconic viewpoint. Currently, it houses the Technical School No. 34).
“This combination, along with a growing gastronomic offering and low urban density, is what makes it a cool neighborhood,” he said.
The historic housing complex designed by the famous architect Fermín Bereterbide: the Parque Los Andes neighborhood between Leiva, Rodney, Concepción Arenal and Guzmán streets, in one of the Buenos Aires layouts with the most promising real estate prospects (Photo Courtesy: Buenosaires.alpaso)
Lorenzi suggested that avenues such as Warnes and Dorrego have the potential to grow in height. To consolidate the neighborhood, it would be key to recover urban areas close to the cemeteries and protect their funerary architecture with a serious heritage program.
Beyond its reputation as a cool neighborhood, Chaca (also known as the Chacarita Juniors club, another neighborhood symbol that has its headquarters in the area and its stadium in the San Martín district) has always had its charm. “I highlight the post-pandemic gastronomic movement, with signature restaurants and bars that placed the neighborhood on the podium of Buenos Aires' offering. Its eclectic architecture, which includes old factories and chorizo houses, contrasts with modern buildings,” Castro added.
Avenida Córdoba and Jorge Newbery, another axis with houses under construction in the vicinity
In progress
The Chacarita neighborhood, home to iconic figures such as Carlos Balá , remains a growing epicenter, especially around Álvarez Thomas and Federico Lacroze avenues. This area, where the beloved actor who passed away in 2022 lived, is emerging as a key focus of real estate development, attracting new investors and residents.Architect Guy Kandel is part of this transformation, completing the delivery of the last units of the building on Álvarez Thomas 900, with 54 homes in total. “This project is aimed primarily at a middle/upper middle class audience, with options ranging from 30 square meter studio apartments to 58 m2 one-bedroom apartments.”
Since the start of construction three years ago, prices have increased from USD 1,650 to USD 2,200 per m2. The homes, with a modern design and quality materials, include affordable studio apartments for USD 60,000 and two-room apartments for USD 125,000.
Work in progress on Álvarez Thomas Avenue at 900
“The units feature balconies, radiator heating, and pre-installed air conditioning, offering comfort and quality to future owners,” said Kandel.
This is a booming neighborhood, showing signs of growth with construction work on almost every block, particularly on Avenida Elcano (between Charlone and Roseti), where a residential complex is being built on a site that previously housed the headquarters of the Jehovah's Witnesses Association and was the headquarters of Casa FOA in 2021.
Elcano District, where Casa FOA was built in 2021 and will now be converted into a modern project
Sebastián Sommer , the project developer, said that “this area, previously used as a warehouse, has great potential for improvement in terms of urban planning, security and quality of life.”
The aim of the complex, called Distrito Elcano, is to create a unique environment that combines urban diversity with modernization, positioning itself as an autonomous neighborhood within Chacarita.
The gastronomic corridor of Jorge Newbery and Dorrego avenues, known as “Chacalermo,” is one of the hotbeds of this growth. This term reflects the influence of the Palermo Hollywood boom and turned the area into a point of interest for singles and young couples between 25 and 45 years old. The mix of signature cafes, exclusive restaurants and bicycle shops caught the attention of this modern and active public, boosting real estate demand.
Fraga neighborhood with its own square within Chacarita
Sommer said that Chacarita will combine elegant and premium proposals, with prices still below those of Palermo but comparable services. “Chacarita is like Palermo Hollywood in 2000, with warehouses, storage facilities and PH. The mix of commercial and residential uses attracts young singles and families due to its proximity to schools and services.”
What was once an area of mechanical workshops and industrial buildings, today houses bars, restaurants, vermouth bars , designer shops and cafes.
Sofía Grinberg , marketing manager at Newland, highlights that their project on Carranza Street and Avenida Córdoba is in the final stages of construction and the first homes will be available in the first months of 2025. The units are being finished with equipped kitchens and bathrooms, and the common spaces such as the SUM, gym, laundry and coworking are being furnished.”
Charlone and Maure (Photo Courtesy: Buenosaires.alpaso)
The “overflow” of Palermo has extended its influence to Chacarita, which now competes with gastronomic hubs and trendy spaces . Its good connectivity and proximity to avenues facilitate access to other areas.
“Despite the growth, it remains low-density and high-demand, with prices starting at USD 2,530/m2, flexible financing and attractiveness for both investors and young people looking for modernity and tranquility,” concluded Grinberg.
www.buysellba.com
