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Carmena Makes Deal With Villar Mir Re Canalejas Complex

13 October 2015 – Cinco Días

The mayoress of Madrid, Manuela Carmena (Ahora Madrid) has reached an agreement with the Villar Mir group to resume the construction of the Canalejas complex, a centre containing a hotel, shops and luxury homes next to the Puerta del Sol, which is currently on hold. That was the statement made by the Town Hall on Friday, which called a press conference for today (Tuesday), where it will reveal the terms of the deal.

OHL is building a five star (Four Seasons) hotel, a large shopping centre and luxury homes in this complex. In September, the company, the Town Hall and the Community of Madrid established a permanent negotiating table, which has now reached an agreement.

The project will modify the volume of the building, which will now be smaller, thanks to a reduction in the height, since the Town Hall wanted to limit the visual impact, above all in the area next to “kilometre zero”. Moreover, the revised plans exclude the planned underground transport hub, and so buses will arrive at Puerta del Sol.

The building work was suspended in part by the Heritage Commission, for the alleged destruction of protected sections, and needs a building licence to continue.

The company owned by Juan Miguel Villar Mir plans to invest €285 million in the operation, which will affect the block between Calles Alcalá, Sevilla, Carrera de San Jerónimo and the Puerta del Sol. Historically, this is where the headquarters of several banks, such as Banesto and Banco Hispano Americano, have been located. (…).

Original story: Cinco Días (by Alfonso Simón Ruiz)

Translation: Carmel Drake