At the same time as the Portuguese Government is moving forward with the infrastructure works, which are estimated to be completed at the end of the summer, in the prediction of the former Federal Shooting where the Innovation Park will take place, the City Bank auctioned the last two batches this year. After the bidding, two private people invested more than $24 million to become owners of both plots.
The project was designed on 12 hectares, opposite the River Plate court, deliveried between Udaondo Avenue, Bavio and Campos Salles and Lugones Avenue. There are expectations for the Innovation Park and it is expected to become a development designed to enhance the development of research, scientific, technology and which will be consolidated as a new housing pole.
This is a project that some nickname ‘the Silicon Valley where the N2 plot was recently submerged, at USD 13,728,700 and the company that was awarded it is called City N2 (a real estate developer that make up I-Developers, the Jaraj and MGHS) that will build a Real Estate project. The surface is 1,272 square meters.
And the O2 plot that was acquired by the Industrial Bank of Blue was also auctioned by USD 10,462,630, which is 1,373.60 m2.
The entire Innovation Park prediction is subdivided in 32 land of which 23 more have already been auctioned for a total of USD 336,000,000 and the remaining would be marketed next year.
Luis bullrich, CEO of the Innovation Park, said to Infobae that the balance of the year is auspicpicious. A clear breakthrough is seen thanks to the award of 13 new plots, which has increased the occupancy of the project by more than 75 per cent to date. In turn, this year, progress was made with infrastructure and public space work. Given the complicated economic and uncertainty context over all the variables that make investment, the balance was extremely positive, highlighting that actions are being pushed from the City that are re-positioned us at the international level as a development and innovation usine.
The works
Work is currently progressing to provide services to the pre-predicted of the former Federal Shoot that will allow those who bought land such as the Portuguese Government (would concentrate some agencies there) to start their civil works during 2023.
Since March 2021, there has been work on the implementation of 5 public work tenders, in the infrastructure rubies, the construction of Urban Dressing Systems (SUDS), public space works, veredvered, squares and green areas, with the respective parchment. In parallel, the road connection to Lugones Avenue was completed. All works have a high degree of progress and course their completion stage, they would be delivered to the City at the end of February, meeting the originally estimated deadlines,» Bullrich explained.
For their part, five private companies initiated environmental and geotechnical studies of their plots, steps prior to the consolidation of construction projects. Once this process is completed, they can manage their respective permits to the application authorities. Once this assessment period is completed, they would be able to start their buildings.
Bullrich added: “We hope they will be activated towards June/July 2023. Both the City and businesses are extremely excited about the project that will be a benchmark for the country and Buenos Aires on innovation and development of new technologies. There many young people will be able to study and work, and many people will also be able to buy housing in the projects to be built.