Press release
Distrito Castellana Norte leads unprecedented project in Spain
RENOVATION OF NORTH MADRID KICKS OFF
Ø Distrito Castellana Norte Madrid is the most important urban renewal project in Spain in the last 20 years and reflects Madrid's identity as a city that is open to change and has a high standard of living.
Ø Antonio Béjar, President of Distrito Castellana Norte Madrid, said the company's commitment to the people of Madrid, with its focus on being socially and environmentally responsible, while facilitating the inclusion of the neighbors, creates value for Madrid and substantially improves its international positioning.
Ø 31 reputable national and international advisors contribute their experience in a 3 million square meter project. 80% of the land will used for public infrastructure that the people of Madrid can use and enjoy.
Ø Over 566,000 square meters will be earmarked for green spaces, equivalent to 56 football stadiums.
Ø The urban renewal project has taken into consideration the needs of the neighbors in the planning process and they will be periodically informed on the development of the project known as “Distrito Castellana Norte Madrid”.
Today Distrito Castellana Norte Madrid presented its local urban renewal plan, which forms part of the project to extend the area to the north of la Castellana, and is to start at the beginning of 2015. This is an unprecedented urban renewal plan in Spain, which over the next 20 years will rebuild a very run-down area of Madrid and all the public facilities and services, respecting the characteristics of each neighborhood, while strengthening their ties and environmental sustainability and creating a new business district in the capital.
The surface area involved totals 3,114,336 square meters, slight below the regulatory limit. The project aims to protect the bordering area to the north comprised of the regional park Cuenca del Manzanares and preserve a green space that is very important to Madrid from an environmental point of view. The area to be renewed is semi-deserted, and has uncoordinated infrastructure systems, fragmented neighborhoods and very little green space. Over 566,000 square meters will be earmarked for green spaces, an area equal to 56 football stadiums.
During the development of this project, the public administrations will obtain around 3.36 billion euros in tax revenue, a little over 2% of the region's GDP.
Distrito Castellana Norte Madrid is the result of a public-private partnership. This collaboration will allow 25% of the land to be used exclusively for railway purposes, while 55% will be earmarked for public facilities, urban zones and green space. The project also includes 12.8K bike trail.
A multi-disciplinary team, comprised of prestigious experts in urban planning such as the Richard Rogers studio and ARUP engineering, which have made an innovative urban renewal proposal, was responsible for drawing up, designing and planning the project. The project focuses on creating mixed urban spaces, which are designed to prevent extreme segregation in terms of the purposes and use of the area, while streamlining public services costs and facilitating socioeconomic interaction and the social integration of surrounding neighborhoods.
The project will be executed in phases, always bearing in mind the market's needs and performance. Each phase of the project will be independent of the following one but, at the same time, not only will it pave the way for the next phase, but it will strengthen the project as a whole. Prestigious real-estate consulting companies such as CB Richard Ellis, Jones Lang Lasalle or Savills have been hired to issue a report that assesses the market reality and outlook.
The Distrito Castellana Norte Madrid project will have international repercussions for Madrid and play a key role in expanding and projecting Madrid companies and businesses abroad. This project will help revitalize the local business community and services, and promote the development of high-tech economic activities, which will also attract talent and encourage international relations given that companies from around the globe will be able to set up shop in the area.
Distrito Castellana norte is the main owner of the project, which is expected to be a growth driver for the city and a strategic opportunity for Madrid to improve its standing among the main European capitals. Antonio Béjar said, "From this moment on, Distrito Castellana Norte Madrid has made a long-term commitment to the city of Madrid and has designed a project that is socially and environmentally responsible, and will create a unique business district and improve the standard of living for the citizens of Madrid”.
This plan was designed after studying the best aspects of similar experiences in cities such as New York, London, Amsterdam and Hamburg. With the collaboration of the Ministry of Development, and the regional and local governments of Madrid and the other developers, Distrito Castellana Norte Madrid has drawn up an urban renewal plan for North Madrid that is very people-centric, as it promotes social interaction between the neighbors of the area in question, while imbuing the whole project with an identity that represents the values of Madrid as a city open to change with a high standard of living.
Committed to the environment and the neighborhood
Distrito Castellana Norte Madrid is totally committed to sustainable development, meeting standards above those established by law. The project has emphasized the use of sustainable criteria, while ensuring mobility through public and private transportation.
This project is designed around an innovative, high-capacity transit system and limited use of private vehicles, although always adjusted to the users' needs. The pedestrian is the city's main protagonist and all the residents will have a public transportation system at least 35 meters away. Furthermore, at least one of the existing or planned transportation hubs in Plaza Castilla, Chamartin, CBD Norte, Fuencarral and Las Tablas will be no more than 1 kilometer a way.
“We believe -says Béjar- that Distrito Castellana Norte Madrid will promote Madrid internationally and help expand companies and businesses abroad, thereby creating 121,000 jobs during its development”.
After meeting with several in neighborhood associations, the plan has been designed with the needs and expectations of the surrounding neighborhoods in mind and the project aims to connect these areas in a harmonious manner. This urban renewal plan is an inclusive project that integrates the existing communities to create a new one, while forming a web of lateral interconnections that tie together the various communities in the area. Furthermore, Distrito Castellana Norte Madrid is committed to keeping the neighbors informed of the project's progress.