20 July 2019 – Richard D. K. Turner
The City Council of Madrid will give its final approval for the plan to develop the Cuatro Caminos project. Grupo Ibosa and 443 families purchased the land from Madrid Metro, for 88.3 million euros, in November 2014.
The site acquired by the cooperative, Residencial Metropolitan, has an area of 3.7 hectares, where the two groups plan to build a residential development, along with more than 17,000 square meters of parks and gardens.
The municipality’s approval will allow construction of more than 400 homes, 60 of which would be officially protected (subsidised), while transferring sufficient land for 70 more homes to the city council.
Original Story: El Confidencial – E. Sanz
Photo: Salvador Fenoll.