Ibosa, the firm specialized in unsubsidized and subsidized housing development, submitted an €80 million bid for this 40.000 square meter plot belonging to Madrid´s Metro. The firm has already its plans for the land. Thereon, it is going to realize project “Metropolitan”, a residential complex combining both subsidized and unsubsidized homes, as well as a 16.000 square meter public park. The plan gained support of 180 co-operative partners.
“We selected this project due to its location, volume and typology”, says Ibosa´s CEO Leopoldo Moreno. At the end of July, specifications about the plot will be published. The auction is foreseen for the end of October.
“Metropolitan” will encompass 452 free-market houses (from 1-5 bedrooms, sold at 2.670 €/m2) and 67 subsidized units (3-bedroom, at 1.940 €/m2), distributed over a 25-floor tower and three 8-storey blocks. These buildings will be constructed together with a 20.000 square meter green area, where currently stand the Cuatro Caminos station depots of Metro. The works will begin from undergrounding of the sheds and replacing their acrylic rooves in order to locate the park on their tops.
Moreover, the project assumes creation of new roads communicating three most important arteries in the area. In total, the investment will consume €20 million.
Ibosa´s plans are to come true in the Chamberi district where the average price per square meter marks 4.217 Euros.
Original article: Expansión (by Ignacio H. Lopez)
Translation: AURA REE