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Approval is Granted for Metrovacesa’s Office, Hotel and Commercial Project in the Former Clesa Factory

The development of a mixed-use tertiary complex, that will see offices built alongside a hotel and other spaces for commercial and residential use for students, could begin in 2021.

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Infographic of the finished project in Madrid’s Fuencarral district.

Metrovacesa is continuing to develop its portfolio of value-added urban operations. On this occasion, it has received definitive approval from the Governing Council of the Community of Madrid for one of its strategic plots located on the site of the former dairy factory, in the district of Fuencarral-El Pardo, opposite the Ramón y Cajal Hospital. The regional government has agreed to the definitive approval of the Modification to the General Urban Plan for the creation of the Specific Planning Area 08.17 “Clesa”.

The proposal for the Modification to the General Plan includes a change in the characteristic use of the plot owned by Metrovacesa, from industrial use to tertiary services, but maintains the buildable surface area established in the General Plan of 88,702 m2. Metrovacesa plans to invest around 260 million euros in the development.

Read the full article in Spanish.

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