Exactly two years after it was officially announced, construction of Buenos Aires’ newest shopping center is back on track and scheduled to open next month in Palermo.
Distrito Arcos is a US$60 million indoor/outdoor shopping center and entertainment complex that is transforming a prime stretch of Palermo real estate bordered by Santa Fe, Juan B. Justo, Godoy Cruz and Paraguay. The property sat dormant for years, and the spaces beneath the classic brick arches supporting the San Martin train tracks fell further into disrepair.
Fortunately local developer IRSA saw the opportunity to transform this coveted stretch of property separating Palermo Soho and Palermo Hollywood, and signs of revitalization are already visible one month before the grand opening.
Gone are the garbage and graffiti on the arches which have been converted into beautiful, well-lit spaces for shops, restaurants, parking access to the galleria and multiple pedestrian pass-throughs between two of BA’s most popular neighborhoods. The new development is already serving as a magnet for new luxury hotels, boutiques and high-end restaurants opening on adjacent streets.
When it opens next month, the area surrounding Distrito Arcos will more closely resemble the recently renovated San Martin arches next to the Plaza Rosedal where more restaurants are opening beneath the beautifully-restored arches. Upon completion, Distrito Arcos will feature 65 premium outlets, an open-air shopping space, a movie theater, several restaurants and an underground parking garage. (Full Story in Spanish)
For more information about Argentina real estate investments, complete the form below.