Puerto Madero was once a decrepit port area, but it has recently been rejuvenated into the wealthy sector of the city center. The zone is decorated with shiny high rise buildings, manicured river walkways, and streets which all pay homage to important women in history. Impressive government buildings are also sprinkled through the neighborhood, making it a popular place to live for expats working in governmental positions. The boardwalk framing the river is home to an array of excellent dining options as well as one of Buenos Aires’ universities. Beyond the waterway is a grouping of fancy apartment buildings, an eclectic mix of boutique shops and a large outdoor summer concert series arena. Due to the recent remodeling, living is more expensive here. An average price for a one bedroom/one bath will start near the US$ 1,000 range. The recent boom has also affected real estate prices, making what was once one of the cheapest markets now one of Buenos Aires’ top-end real estate investments.
A little bit of history....
The 1990s, local and foreign investment led to a massive regeneration effort, recycling and refurbishing the west side warehouses into elegant houses, offices, lofts, private universities, luxurious hotels and restaurants that conform to a gallery of options for this new district in a city that grew up turning its back to the river. Led by the 1999 opening of the Buenos Aires Hilton, luxurious hotels, state-of-the-art multiplex cinemas, theatres, cultural centres, and office and corporate buildings are located mostly in the east side
Puerto Madero has been redeveloped with international flair, drawing interest from renown architects such as Santiago Calatrava, Norman Foster, César Pelli and Phillippe Starck, among others. Today one of the trendiest boroughs in Buenos Aires, it has become the preferred address for growing numbers of young professionals and retirees, alike. Increasing property prices have also generated interest in the area as a destination for foreign buyers, particularly those in the market for premium investment properties.
The neighborhood's road network has been entirely rebuilt, especially in the east side. The layout of the east side consists currently of three wide boulevards running east-west crossed by the east side's main street, Juana Manso Avenue. The layout is completed with some other avenues and minor streets, running both east-west and north-south, and by several pedestrianised streets.
Every street in Puerto Madero is named after women. The Puente de la Mujer (Women's Bridge), by Spanish architect Santiago Calatrava, is the newest link between the east and west docks of Puerto Madero; a museum inaugurated in 2008, the Fortabat Art Collection, itself resulted from an initiative by Amalia Lacroze de Fortabat (the wealthiest woman in Argentina).
Puerto Madero currently represents the largest urban renewal project in the city of Buenos Aires. Having undergone an impressive revival in merely a decade, it is one of the most successful recent waterfront renewal projects in the world.
At Puerto Madero Dock 2 (between Azucena Villaflor and Rosario Vera Peñaloza - teacher and La Rioja educator) buildings belonging to the Universidad Católica Argentina stand successively to the west, and the Faena Hotel + Universe (first hotel designed by Philip Starck in South America) is located to the east of Dock 2. Located on the corner of Aimé Painé (Mapuche Princess and indigenous rights activist) and Rosario Vera Peñaloza, the modern Iglesia Nuestra Señora de la Esperanza was inaugurated in 1996 and is dedicated to the Virgin Mary, who under the title of Stella Maris, or "Star of the Sea", is the patron saint of the Argentine Coast Guard. The docks aligned with Dique 2, between 1400 and 1500 of Avenida Moreau de Justo, are mostly occupied by various apartment buildings and offices of the Universidad Católica Argentina and its Pabellón de las Artes (Arts Pavilion), a space for art showings with access from the pedestrian side of the dock. Here, there are some bars and coffee shops.
New high-rise construction
Numerous new residential high-rises of up to 50 stories have been built facing the Rio de la Plata since 2000. These include El Mirador of Puerto Madero Towers, Renoir Towers, El Faro Towers, Chateau Tower of Puerto Madero and Mulieris Towers amongst others. Many other high-rises that have recently been inaugurated include the Le Parc Tower and Hilton and River View Towers. Office and hotel high-rises are also being built such as the Repsol YPF Headquarters and the Conrad Buenos Aires Hotel & Resort, whose construction is slated to begin at the end of 2008 and completion scheduled for late 2010.
Additionally a St. Regis Starwood Hotel is being built in the first dique, where the famous nightclub Opera Bay was formerly located, and is scheduled to open in 2013. A large Jumeirah Polo resort will also feature a hotel in Puerto Madero, working conjointly with polo fields outside Buenos Aires.
Transportation
The recently inaugurated 2 km (1.3 mi) Puerto Madero Tramway line serves the area, running parallel to Alicia Moreau de Justo Avenue (along the ward's western side); however, the neighborhood is still not well-connected to the city's transit network. Few bus routes run through Puerto Madero, no subway line reaches it and there are currently no official plans to extend the subway network to the neighborhood despite planned further extensions of the tramway slated to link the Retiro and Constitución train stations.
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I loved Puerto Madero when I was in Argentina. By day, this riverfront area is a booming business and shopping district and by night, a hip neighborhood with pricey restaurants and fashionable clubs. Close to Retiro: train station regularly. The good thing was that the Buenos Aires Real Estate I was staying in was there, so I always had something to do at any time of the day!
ReplyDeleteKirsten