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In Recoleta, Buenos Aires Goes Underground to Solve the Parking Shortage

On November 18, 2011, In ba government, buenos aires events, real estate, by InvestBA
Mitre Parking Lot in Recoleta

The Mitre parking lot is the first of 13 planned in the City of Buenos Aires (Source: CRIBA)

Parking in Buenos Aires is a problem, especially in areas of Capital Federal like Puerto Madero and Recoleta with high construction density and no Subte stations. With dwindling available lot options for above-ground parking, the City of Buenos Aires decided to go underground with a new parking garage at Pueyrredon and Las Heras.

The Estacionamiento Mitre, which opens today, is a 123,000-square foot facility with 410 parking spaces spread over two underground levels. The above ground Emilio Mitre Plaza has been restored and even received an additional 21,000 square feet of new trees and green space, according to Clarin’s Romina Smith.

Smith says the Mitre facility and 12 other planned garages all form part of the City’s Responsible Mobility Program which encourages visitors to park on the outskirts of downtown and continue to their downtown destination by foot, bike, bus or Subte. Toward that end, the H Line of the Subte will soon add a Las Heras Station connecting the busy intersection with the A, B and E Lines. The Mejor en Bici program now needs a bike station and bike-friendly lanes around Puerryedon and Las Heras.

According to the construction company’s website, CRIBA finished the Mitre project in 12 months. The next underground garage is being built seven blocks north under the Parque Las Heras in Palermo, and the third is planned for the Plaza Noruega in Belgrano. (Full Story in Spanish)

For more information about City of Buenos Aires projects including the Tech District and Metropolitan Design Center, download the new issue of InvestBA Privada.

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Megaproject Between La Boca and Puerto Madero Close to Winning Approval

On November 2, 2011, In ba government, real estate, by InvestBA
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)

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

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CABJ: City of Atlanta Boca Juniors

On January 26, 2011, In franchises, lifestyle, by InvestBA

A multitude of factors make Atlanta the obvious destination for a Boca Juniors MLS franchise.

2011 got off to a great start for Boca Juniors, the legendary Argentine squad and one of the world’s most marketable and recognizable futbol brands. Marti­n Palermo and the boys from La Boca beat cross-town rival River in the year’s first Superclasico on Saturday night down in Mar del Plata. Apparently the taste of success beyond the friendly confines of the Bombonera now has Boca management gazing to greener pastures in los Estados Unidos.

Today multiple sources including ESPN are reporting that Boca has been in talks with MLS officials about bringing the franchise to the U.S., not unlike what Mexican club Chivas did when launching Chivas USA in California. But the two biggest hurdles facing Boca’s northern migration are a.) tapping a sugar daddy sponsor and b.) finding an American market that’s LXF (Loco por Futbol) and hungry for its own MLS franchise.

In the spirit of bridging the gap, InvestBA would like to offer ten reasons the City of Atlanta would be the perfect market for the Xeneize invasion. Atlanta has world-class sporting facilities, countless youth and adult soccer leagues, a fan base actively lobbying for MLS, a history of absorbing out-of-market franchises like the Milwaukee Braves, a fast-growing Hispanic community, a tradition of wealthy team owners from the private sector like Arthur Blank and Ted Turner, direct flights to Buenos Aires, a solid relationship with Mayor Macri and the City of Buenos Aires, an Argentine Consulate and the corporate headquarters of some of the world’s greatest companies with a strong presence in Argentina: The Coca-Cola Company, UPS and Delta Air Lines to name a few.

If Corona can sign a multi-million dollar, multi-year sponsorship deal with Chivas USA, think of the co-branding, cross cultural possibilities a Boca Juniors team playing in Atlanta would have for U.S. and Argentine companies seeking greater visibility both in Latin American households and with the 50 million-strong U.S. Hispanic population. ¡Dale Dale Boca in the ATL!

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Navegate: Buenos Aires Launches Free WiFi in City Parks

On January 21, 2011, In ba government, buenos aires events, competitiveness, technology, by InvestBA
Plaza Houssay

Plaza Houssey is the first of 26 parks to have free WiFi in the City of Buenos Aires.

The City of Buenos Aires took a major step yesterday toward maintaining its title as the Latin American metro with the most free WiFi hotspots. At last count, the ratio was 1 hotspot per every 2,620 residents, a 72% improvement over the previous year. That ratio is sure to drop as BA’s Ministry of Environment & Public Spaces rolls out the new service in 26 city parks.

The first major city-sponsored WiFi switch was flipped yesterday in Plaza Houssey, a busy park surrounded by universities and businesses. Public Spaces Minister Diego Santilli explained the significance of the rollout: “Beginning today, the people can enjoy this public space using their cell phones and computers. This network is valuable, because it will benefit the many students who during the year travel to the universities in this area.”

He then shared the good news via Twitter: “En Plaza Houssey we took the first step for Buenos Aires. Intelligent City. Thanks to Mauricio Macri free WiFI in the porteno plazas.”

The 26 free WiFi networks which will be available 24/7 are being rolled out simultaneously by CableVision (16 networks) and Gowex (10 networks including Plaza Houssey). The Internet service, which does not require a password, has a speed range of 3 to 6 MB and is being provided by these companies at no cost to the City of Buenos Aires or the porteno park surfers. (Full Story in Spanish)

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B+A+E=H: The New Buenos Aires Subte Line Moves Forward

On December 7, 2010, In ba government, foreign investment, by InvestBA
H Line of the Buenos Aires Subte

The H Line extends further north. Next Stop: The D Line to the north and Parque Patricios to the south.

The Buenos Aires Subte added a new station yesterday on the “H” Line, a highly-publicized, much-needed, oft-delayed North-South connector that will one day connect Retiro in the North, Nueva Pompeya in the South and intersect every major East-West line on the network.

Up until now, the “Sub” in the H Line’s Subte has been more indicative of its degree of utilization rather than its underground location. Until yesterday, the nascent yellow line only had five stations and ridership was estimated to be 20,000 passengers a day (versus 400,000 for the B Line), but ridership will double immediately with the new Corrientes station, two more stations are under construction (Hospitales and Parque Patricios) and a Chinese group will possibly build another six.

At the inauguration of Corrientes, Mayor Macri took the opportunity to mix two types of green with the new yellow: “Our society is increasingly congested with new vehicles year after year, which represents a problem not only in Argentina, but in many countries worldwide. As promised, we are breaking records with our investment in the Subtes of Buenos Aires.”

The new station, which is a little longer than a football field, has many construction features that enhance its durability like a forced ventilation system to recirculate air. Aesthetically, Corrientes pays homage to composer and tango legend, Enrique Santos Discepolo, in keeping with the law that mandates each H Line station form part of the Subte’s Underground Tango Cultural Circuit. (Full Story in Spanish)

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

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