Valencia F1 Neighbourhood Gets Provisional Planning Permission
Added: (Apr 2009)
Tuesday April 21 st will be remembered as a truly historic day in the history of Valencia as the day the city cemented its desire to thoroughly embrace its principal natural amenity namely the Mediterranean Sea . As the city's commercial port will be extended southwards along the coast the Valencia Town Planners have agreed to the creation of an artificial beach to compensate the city's beachgoers around the newly built navigable waterways that will meander peacefully through the new Valencia F1 Neighbourhood and flow into the Med via the America 's Cup Marina.
The centrepiece of the development will be 2 V Shaped 50 Storey Towers facing the F1 Circuit and America 's Cup Marina that will act as beacons for the city especially when viewed from the sea or air (see attached graphic). The Valencia Town Planners have agreed to the maximisation of building height space thus allowing an even bigger Green Delta that will literally envelop the new Neighbourhood of El Grao with in the region of 3,000 apartments as well as commercial units and office space.
The development just needs final approval from the Valencian Government and agreement regarding the division of the various sites as there are a number of different consortia with interests in the site. The Spanish Ministry of Infrastructure will apportion € 110 million towards the building of two new bridges in the neighbourhood at Astilleros and next to Mayor de Nazaret St as well as putting underground several train lines that run through the site. Three developers directly affected by these infrastructural projects will contribute € 16 million in total.
As a result of a proposal from the local Institute of Engineers , the City Planners have taken on board the idea of charging the residents of the New Grao Development so that they will pay for the cost of providing the necessary public services via taxation.
The development will be a stand alone development as such with no linkage whatever to the America's Cup Marina which is now the biggest marina in the Med as well as being the possible future host of the 33 rd edition of the America's Cup either in 2010 or 2011 with all the necessary works that hosting such a globally prestigious events entails. The only area of common interest between the new F1 Neighbourhood and the America 's Cup Marina will be the issue of the water from the neighbourhood's navigable waterways flowing into the Med via the inner marina.
The development has been a pet project of the city's much loved Mayoress Ms. Rita Barbera who if she is re-elected will spend more than 20 years in the job. Local architect Jose Maria Tomas will take charge of the project which will be a fusion of the joint design award winners' designs from the prestigious French architect Jean Nouvel and the German firm G.M.P.
Valencia over the past decade has taken off architecturally with the City of the Sciences and the America 's Cup Marina with its emblematic “Vellas y Vents” building ; in the Sporting arena with the America 's Cup, Formula 1, A.T.P. Tennis as well as Showjumping's Global Champions' Tour.
Valencia year by year is becoming a significant player globally and is worthy of its recently acquired title of “Europe's Florida on the Med” : proof of which are the almost 300 cruise ships that visit the marina annually and now make up in the region of 10% of the tourist inflow, a market that was non existent all of 10 years ago.
This is continuing good news for all Valencia City Property Owners so whether it is “Valencia Property”, Valencia F1 Property” or “Valencia Yacht Charter” that you require : Valencia's Premier Property Search & Property Investment Company namely Valencia Property Hound should be your first port of call.
Article by Dermot Quinn, Valencia Property Hound Ltd
