<< Back to Main Valencia Press ReleasesValencian Government Puts on Display the New F 1 Neighbourhood
Added: (Nov 2008)
The Valencian government has initiated a consultative process with the Valencian public concerning the new “Grao” neighbourhood development which will be built within and around the city's Formula 1 Urban Street Circuit. The aim of the local government is to get constructive feedback from residents living in the surrounding areas so as to further enhance and improve on the proposed development. The intention of the Town Hall is to regenerate the area as well as opening it up to the sea via navegable waterways that will end in the inner marina of the city's America 's Cup Marina. Substantial green areas will also be incorporated in the development thereby adding to the visual aesthetic of the development and enhancing the quality of life of the area's new residents. With the continuation of the European Grand Prix as well as the likely return of the America 's Cup, the new “Grao” neighbourhood is expected to become one of the city's most fashionable areas. The much talked about centre piece will be a stunning V shaped “Twin Tower” structure of 50 storeys facing the Mediterranean symbolising the city's new found embrace of the sea and the business that is to be tapped from this precious resource. Where ten years ago cruise ships were not to be seen in Valencia , it now receives almost 300 per year as well as having the biggest marina in the Med as well as being the number one port for commercial container traffic.
Further enhancing the neighbourhood's appeal will be the construction of two new rail lines, one metro while the other will be a tram line. The new metro line will link Avenida de Franica with the marina entrance and will continue along behind Dr. J J Domine to the old Grao area while the tram line will link the City of the Sciences, the Oceanographic and go to the end of the outer marina which is great news for all boat owners. Public transport prices in the city are still very reasonable with a ten ticket “bono” costing just €7 for both bus and metro/tram usage.
In total, 3,000 apartments will be built. The total area taken up by the new development is 400,000 sqms in total with 130,000 sqms comprising a “Green Delta” park area with a further 40,000 sqms of smaller parks. The aim of the planners is to maximise building height thereby allowing for increased public amenity areas. 28 kms of navegable waterways will also be built further adding to the developments attractiveness. Being on the edge of the Med's biggest marina will undoubtedly attract a strong ex pat buying interest. Yearly mooring rentals are available for in the region of €600 a month depending on boat size which is quite reasonable given the available facilities as well as being in one of Europe's best seaside urban centres with virtually all year round sunshine and a quality of life that is hard to beat.
This is all great news for Valencia property owners, emphasising all the more the need to use the services of an independent property search and property investment company before buying property in the city so whether it is Valencia Property, Valencia Rental Property or Valencia F1 Property ; “Valencia Property Hound” should be your first port of call.
Article by Dermot Quinn, Valencia Property Hound Ltd
