Madrid Budgets €21 Million to Buy Land for Public Use

3 December 2019 – The political parties PP and Cs’ new budget for the Madrid City Council’s includes €21 million to acquire new land for additional housing and other public needs. The budget increases the Municipal Housing and Land Company’s budget by 16.19% to 180 million euros.

These new lands would consist of new facilities around the airport, a new residence for senior citizens in Puente de Valleca. The municipal company would also acquire land in Campo de las Naciones to add to the Metropolitan Forest.

Original Story: La Vanguardia

Adaptation/Translation: Richard D. K. Turner

Madrid to Prioritise Operation Campamento

8 October 2019 – The Madrid City Council is looking to prioritise the Operation Campamento, a plan to build 10,700 homes on lands owned by the Ministry of Defense. The former PP mayor Alberto Ruiz Gallardón originally signed an agreement in 2005 to develop residential housing in a disused military zone in the district of Latina.

The PP and Ciudadanos political party coalition ran on a platform of streamlining such development to help increase the supply of housing in the capital city.

To increase the housing stock for rent, the City Council intends to finalise the 4,500 homes belonging to the Municipal Housing and Land Company. The council will also transfer the surface rights to sufficient land to build 5,000 homes and will seek to redevelop existing buildings.

Original Story: ABC Madrid / EFE

Adaptation/Translation: Richard D. K. Turner

BBVA to Sell Its 75% Participation in the Madrid Nuevo Norte Project

30 July 2019 – Richard D. K. Turner

The Madrid City Council has unanimously approved the Madrid Nuevo Norte project, also known as Operation Chamartín, after a twenty-five-year wait. The project must now gain final approval from the Community of Madrid government and weather lawsuits from community and environmental groups.

District Castellana Norte (DCN), which is 75% owned by BBVA together with Grupo San José (25%), is the developer in charge of the project. Though BBVA has publicly affirmed its commitment to see the project through, increased oversight by the ECB and a change in the bank’s leadership have fuelled speculation that BBVA will sell its participation of a single major investor.

Despite some changes to the urban development plan, Operation Chamartín will lead to the construction of 10,500 homes (20% with some kind of protection), a new financial district and the refurbishment of the Chamartín train station. In total, investors will plough roughly €6 billion into the project over about two decades. Construction is expected to commence in 2021.

Original Story: El Confidencial – Ruth Ugalde

Madrid City Council Gives Preliminary Approval to Operation Chamartín

29 July 2019 – Richard D. K. Turner

The Madrid City Hall gave conditional approval to the Madrid Nuevo Norte project, also known as Operation Chamartín, yesterday 25 years after it was first proposed.

The modifications to the General Urban Development Plan will be sent for final approval to the government of the Community of Madrid.

The mayor of Madrid, José Luis Martínez-Almeida stated that they would maintain the project originally agreed to by the Ministry of Development, the private developer leading the project, Distrito Castellana Norte (DCN) and the Madrid City Council. The mayor added that construction is expected to begin in 2020 or 2021 and generate 200,000 direct jobs.

Community organisations and environmental groups such as the Regional Federation of Neighbourhood Associations of Madrid (FRAVM), Ecologists in Action and the North Zone Platform, stated that they would contest the development in court.

Original Story: El Diário

Construction to Begin as Cuatro Caminos Receives Approval, Five Years On

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.

Madrid City Council and Merlin Properties to Renovate Area Around Azca

10 July 2019 – Richard D. K. Turner

The Madrid City Council signed a public-private partnership agreement with Merlin Properties to renovate the public areas surrounding its building located at the Plaza Ruiz Picasso in Azca.

The agreement includes a budget of more than two million euros, which will be fully executed by Merlin Properties under the City Council’s guidelines. Such renovations include improvements to mobility and accessibility and upgrades to the plaza, like adding trees and gardens. Simultaneously, the socimi will conduct an extensive refurbishment of the building itself.

Original Story: Europa Press