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Madrid Nuevo Norte, Renazca and the Aena operation: the capital’s main urban developments

Madrid, both the capital and the region, continues to grow and regenerate through large urban developments. Throughout the current year, the foundations have been laid to promote projects such as Madrid Nuevo Norte, Renazca or the logistics operation of Airport City Madrid, for which Aena is looking for an investment partner.

In the first place, Madrid Nuevo Norte will involve a performance of more than 2.35 million m2 of land and the construction of some 10,500 homes by the company Distrito Castellana Norte (DCN). As explained by Miguel Hernández, director of Strategy of the company, during the celebration of the XIV Ecofin Congress: “It is the largest urban regeneration project in southern Europe” and it will have the capacity to mobilize more than 20,000 million euros of investment, public and private.

The project, formerly Operation Chamartín, will have 1.5 million m2 of offices and 400,000 m2 of green areas. It will also have a central park that will cover 210,000 m2 of the railway bundle in Chamartín. In addition, during the execution of Madrid Nuevo Norte more than 350,000 jobs will be createdHernández assured.

With this performance too the Chamartín railway station will be remodeled, where Adif has already launched the macro-project to reform and transform the station. Likewise, the Madrid Nuevo Norte project includes the construction of three new Metro stations, a new Cercanías station in the south of Fuencarral, the implementation of a Priority Bus system.

Reborn

For his part, Pedro Hernández, attached to the director of Reborn, stated that this project intends to revitalize the financial heart of Madrid: Azca. As well as converting the area into a fashionable place for leisure and business.

The developer founded by Merlin Properties and GMP, Renazca, will be in charge of carrying out urban rehabilitation of the Madrid financial district. However, the project will involve more companies – owners of buildings in the area – and it is expected that more will continue to be incorporated. Specifically, this action was born as an initiative of the private sector to provide a solution to the degradation of the area.

After an international competition, in February the company decided that those in charge of the development will be the arquitectos Diller Scofidio + Renfro, GP + B y B720. The goal is to create an area similar to the one that surrounds Rockefeller Center in New York, said the deputy to the director of Renazca.

The winning proposal contemplates that the heart of Azca will be presided over by the large green meadow with the capacity to host outdoor activities that can be attended by up to 10,000 people. It is also intended to capture rainwater, channeled through fountains and streams -which rescue the bed of a pre-existing river prior to the construction of Azca-, whose purpose is to self-supply consumption for irrigation and fountains.

Likewise, the project proposes incorporate a fresh market, a playground, an outdoor library, a sculpture garden, cafes and bars, a greenhouse and even an outdoor coworking area. While the underground accesses for vehicles will be reconditioned to reduce the visual impact of cars and the multiple stairs will be eliminated with a new layout of a network of circulation routes.

Aena logistics project

Last October, Aena put out to tender the first area of logistics development of Airport City Madrid. Thus, the airport manager began the process of selecting an investment partner for the logistics activity in the so-called Area 1, which will be awarded in the first quarter of 2022.

The first phase of the contest is framed within the areas dedicated to logistics development and associated activities, and covers about 280,000 m2 of land to develop, with more than 152,000 m2 for building and 40,000 m2 for green areas.

To do this, companies interested in developing this area had to submit the required documentation before November 8. After the award phase will begin, it will be determined which company has submitted the best proposal and the joint venture will be formed with this partner.

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