BREATHING NEW LIFE
INTO MADRID
Ferrero
Autonomy has provided financial support to Spanish high-end Real Estate developer Caledonian for the acquisition of 4 adjacent industrial buildings sites along Madrid’s centric Javier Ferrero Street, with the purpose of developing innovative and high-quality housing that contributes to the ongoing transformation of this up-and-coming neighborhood.
Process
Carry out a zero-carbon retrofit of industrial buildings, transforming them into a sustainable and modern luxury residential complex to benefit the local environment, stimulate urban regeneration, and serve Madrid’s growing demand for high-quality residential spaces.
Merge 4 separate sites into one cohesive complex, with a special permit to increase the buildable area to 10,500 square meters. Improve the surrounding landscape by designating almost 2,000 square meters as green spaces, promoting biodiversity and removing sources of pollution. Prioritize retrofitting over demolition, incorporating high-end amenities and adaptive solutions for future climate change challenges.
Madrid’s first LEED Platinum certified Residential Rehabilitation project. Fully renovated Javier Ferrero Street, improving quality of life for the entire community by improving public areas by repaving the street, planting trees, and reducing on-street parking. Installed photovoltaic panels and heat pumps to produce sustainable solar and geothermal energy and a rainwater recuperation system where 100% of stormwater is processed on-site.
Asset
Javier Ferrero Street in the centrally located in Pradillo area, within walking distance of one of Madrid’s major arteries, Paseo de la Castellana.
Over the past few years, this neighborhood has begun to evolve from a traditionally industrial area into an up-and-coming residential district, largely driven by the increasing number of communication agencies and businesses establishing themselves there.
The total area of the 4 sites is 4,900 square meters of land, with a buildable area of 9,000 square meters. This constructed area will increase to 10,500 square meters in a new zoning agreement reached with the local municipality
