Mar del Plata waterfront view

View from the pool deck of Maral 52, one of the luxury towers under construction in Mar del Plata.

Yesterday was an historic day here in Buenos Aires. Millions took to the streets to celebrate the 200th anniversary of the Revolution for independence from Spain.

Further down the coast in Mar del Plata, festivities were equally raucous; yet, it’s another “200″ that’s generating headlines. That’s the number of new buildings currently under construction in this seaside metropolis of 550,000 residents, according to Editorial NyP.

That ratio of new construction to population may sound out of whack until you consider the population of “Mardel” more than doubles several times during the course of the year as visitors, many from Buenos Aires, pack the local beaches. While the numbers are impressive, the housing boom enthusiasm is tempered by NyP with a closer look at real estate values which are now on par with BA neighborhoods like Palermo and Caballito.

Inland real estate values in Mardel are roughly $2,000/m² ($185/SF), while coastal values range from $2,700-4,000/m² ($250-370/SF). General consensus by those interviewed is that prices are inflated and local demand, especially from middle class Argentines who rely on bank financing, may not be adequate to absorb future inventory levels. Some Mardel projects completed during the past two years are still not 100% sold, which may give pause to developers of an additional 200 buildings currently approved.

While foreign buyers may choose to steer clear of Mardel condos, the region should not be overlooked entirely. Beautiful beach cottages and country homes in secluded forests are scattered around Mardel and offer excellent value for investors. (Full Story in Spanish)

For more information about Buenos Aires investment opportunities, download IncomeBA and the new issue of InvestBA Privada.

Feria Puro Diseño Argentina 2010

Pure Design celebrates ten years of design excellence this weekend in Buenos Aires.

The Bicentennial celebration is only days away, but there is still one major Buenos Aires event between now and 25 de mayoPuroDiseno! With over 3,000 exhibitors and 700,000 attendees, the annual design Expo at the Rural in Palermo always delivers an eclectic mix of design, innovation, fashion and accessories.

The 2010 edition will offer four unique spaces for specialized design: Puro Inedito (Limited Edition designs made especially for the Expo), Puro Verde (a space dedicated to sustainable design), La Seleccion (a showcase of young designers selected for the Expo), and Paseo de las Artes (works of art from some of Argentina’s most celebrated designers.

The Casa Sustentable (Sustainable House) from 2009′s fair takes on new dimensions with this year’s Mundo Sustentable (Sustainable World) built entirely of bamboo and hosted by architect Monica Cohen. The space will also showcase the first ecological hotel to be built soon in San Telmo.

And for those feeling up to the design challenge, there is Work In Patchwork, the first PuroDiseño contest where entrants will design objects using patchwork techniques that blend disciplines, techniques and new materials. Judges at this year’s event include Benito Fernandez and Maria Zunino among others. (Official Website)

For more information about The Creative Class in Buenos Aires, visit our archives and download the new issue of InvestBA Privada.

Mauricio Macri at the Teatro Colon

Buenos Aires Mayor Mauricio Macri surveys the renovation progress at the Teatro Colon.

Once considered one of the world’s top five opera houses, Buenos Aires’ Teatro Colon has played host to musical legends like Igor Stravinsky, Richard Strauss, Luciano Pavarotti and Arturo Toscanini. But when the curtain fell on Swan Lake in October 2006, many wondered if the aging and badly neglected theatre would ever regain its former glory.

Shortly thereafter, the City embarked on an ambitious $100 million renovation project to restore something the Colon once boasted: perfect acoustics. A botched mid-80′s mini-renovation changed that and performances over the ensuing twenty years were marred by thin sound and noticeable reverberations.

A team of architects, engineers and renovation experts spent the past three years demolishing and then renovating everything from the stage to the balconies to the freight elevators. Unfortunately peeling an onion of that magnitude began to reveal more serious structural problems, so the planned 2008 re-opening (for the 100th anniversary) was postponed until this year’s Bicentennial celebration in Buenos Aires.

Despite doubts and criticism from opposition parties, the Government of the City of Buenos Aires persevered and the Colon is finally ready for her debut on May 24. Actually a dress rehearsal was held last night, according to Clai­n, for the hundreds of workers involved with restoring the most important cultural symbol in Argentina.

Shortly after 8:00, the conductor took the stage and the sounds of Beethoven’s Ninth Symphony soared through the hall. As for the restoration of the once-perfect acoustics, the conductor’s comment says it all, “We cried like little boys.” (Teatro Colon)

For more information about Buenos Aires arts and cultural events, download the new issue of InvestBA Privada.

 

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