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Avenue Building Bonjardim in Porto, Investing €57 Million

5 March 2021 – Ana Custódio

The developer Avenue has just launched Bonjardim, its latest development in downtown Porto, in a reported investment of 57 million euros.

Located on the city block formed by D. João I, Rua do Bonjardim, Rua Formosa and Rua Sá da Bandeira in downtown Porto, the mixed-use development combines housing and retail. The project will also include a hotel, which will be managed by “The Student Hotel”. Avenue expects to conclude the project during the third quarter of 2022, while sales are set to begin in April.

According to Aniceto Viegas, Avenue’s general manager, “Bonjardim is a unique opportunity to redevelop an important city block in downtown Porto and will contribute to the dynamics of Rua Sá da Bandeira, and Praça do D. João I. This project, which has been several years in the making, will bring an important mix of uses to the city centre. Avenue is thus increasing its investment in Porto, following Aliados 107 and V Porto.”

Designed by the architecture office of Promontório, Bonjardim will involve the complete renovation of the D. João I city block, with the construction of five new buildings. The project will include the rehabilitation of the existing façades on Rua Sá da Bandeira and Rua Formosa and widening the Travessa do Bonjardim to improve the pedestrian route.  Inside the 2,502-m2 block, there are plans to create a central, public square with one landscaped garden area. The new development would also create a new shared footpath between the streets surrounding the city block. The 93-apartment residential section of the development will consist of studios to four-bedroom flats, all in a gross above-ground construction area of 28.032 m2. Of the total construction area, 13,244 m2 is slated for homes, 2,339 m2 of which will be developed by The Student Hotel as branded residences. The retail location will be situated on the ground floor, comprising 16 retail units totalling 3,560 m2.

The project also includes an 11,228-m2, 4-star hotel with approximately 280 rooms.  There is a 499-space car park reserved for residents and a 250-spot public parking area. The facility will have a total area of 20.873 m2, spread out over three underground levels.

AVENUE operates in the prime areas of Lisbon and Porto. The developer has a particular focus on urban requalification and regeneration, investing in well-known buildings and on land in sought-after locations, contributing to the recovery of the cities’ authentic character and their dynamisation.

Translation: Richard Turner