Solares de Santa Maria

Mayor Macri has the necessary votes to win approval for the new waterfront development.

A $900 million mega-project envisioned for the southeastern part of Buenos Aires is on the fast track to approval in the Buenos Aires Legislature. The Solares de Santa Maria project would be built on a 172-acre piece of property between Puerto Madero and La Boca, the largest remaining parcel owned by the City of Buenos Aires.

The land in question was the site of the old Boca Juniors Sports City, a poorly planned sports complex dating back to the 1960s. (Google Map) The original idea was to build Boca Juniors the largest futbol stadium in the country with capacity for 140,000 fans. When plans for that were scrapped, the Ciudad Deportiva was converted into a low-end waterfront amusement park and ultimately faded into disrepair.

Fast forward half a century and a new developer wants to purchase the parcel and build more high-rise condominiums in an area of Buenos Aires that is already saturated with vertical construction. In lobbying for the project’s approval, IRSA has vowed to cede 40% of the land to the city and make the project accessible to the general public with eight access points and a mix of housing, hotels and shopping.

According to multiple sources, Buenos Aires Mayor Mauricio Macri supports the development and apparently has the necessary 31 votes to win the project’s approval. (Full Story in Spanish)

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