(MILAN) - Hines, the international real estate firm, has finalized the selection process of the architecture firms that will design “Unione Zero”, the first private lot in the development of MilanoSesto, Italy’s biggest urban regeneration project and one of the largest in Europe covering 1.5 million square metres. The project is a partnership between several companies, including property owner Milanosesto S.p.A, Hines as development manager and strategic advisor, and the Prelios Group as project manager.
MilanoSesto is located in the Sesto San Giovanni district in the North East of Milan and is one of Europe’s most ambitious development projects. Upon completion, it will be home to more than 50,000 residents and will transform the area into a sustainable and inclusive urban hub. The masterplan, designed by international architecture studio Foster + Partners, includes residential areas – with affordable and free market homes, student housing, senior living – retail, hospitality and office space, and public realm facilities with a 45-hectare park to become the ‘green lung’ for the entire Milanese metropolitan area, integrated with the historic industrial buildings.
“Unione Zero” spans seven buildings covering 250,000 square meters of above and below the ground space alongside 13 hectares of parkland designed by international architectural studio LAND, on the former Falck Steelworks site. It is situated adjacent to the City of Health and Research, a new medical and research facility, and is just 15 minutes from the center of Milan with excellent connectivity provided by the metro line and Sesto San Giovanni railway station.
In addition, “Unione Zero” has a strong emphasis on sustainability and community engagement. All dwellings will promote the concept of occupier comfort and wellness with a number of interwoven common spaces, green areas and gardening venues. Local civic engagement will be encouraged with social strategies promoting accessibility, mobility and inclusion with all spaces available for everyone.
Hines collected expressions of interest for the architectural design of “Unione Zero” focused on meeting the needs of a diverse multi-generational population, creating a long-lasting inclusive community and providing an ethically sustainable model of development utilising materials that promote energy efficiency meeting performance goals via LEED, WELL and Cradle to Cradle certifications. Hines selected four Italian studios to design the seven buildings which make up “Unione Zero”.
Antonio Citterio Patricia Viel (ACPV) has been appointed to design an office building and a hotel with c250 rooms, Barreca & La Varra will design the affordable housing element of “Unione Zero”, Park Associati will take design charge of student housing with c700 beds and Scandurra Studio Architettura will design the free market residential space. The four appointed Italian firms boast a well-established track record in Italy and abroad, each with a distinctive Italian architectural style. The selected partners will work on the masterplan design by architectural studio Foster + Partners, guaranteeing its global vision, consistency and philosophy. The first construction phase of “Unione Zero” will unfold progressively from the second half of this year.
“We are very pleased with the results of the selection which saw the participation of some of the most important architecture firms in Italy and abroad” says Mario Abbadessa, Senior Managing Director & Country Head of Hines Italy. “The choice of the four outstanding Italian architectural practices is an important signal for our country. I am convinced that, while every studio has its own specific features and style, they will be integrated into a synergic project in line with Foster + Partners’ plan. The challenge will be innovating and projecting the area into the future with a contemporary project, while preserving the memory of an industrial site with a great history and enhancing its sustainability and integration with the local community.”
The design team working on the project are complemented by a number of technical professionals: Executive Architects (Artelia Italia, Jacobs Italia, SCE Project), Structural Engineers (Studio Capè Ingegneria, MILAN Ingegneria, SCE Project), Plant Engineers (Deerns Italia, ESA Engineering, Moving Ingegneria Impiantistica), Quantity Surveyor (Gad, Jacobs Italia), BIM Management (Jacobs Italia), and Architect of Record (Prelios Integra).
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 240 cities in 27 countries. Hines oversees a portfolio of assets under management valued at approximately $160.9 billion¹, including $81.7 billion in assets under management for which Hines serves as investment manager, and $79.2 billion representing more than 172.9 million square feet of assets for which Hines provides third-party property-level services. Historically, Hines has developed, redeveloped or acquired approximately 1,450 properties, totaling over 485 million square feet. The firm has more than 180 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 16 cities as well as a presence in 55 cities in 13 countries, with €22.7 billion of assets under management, including €19.8 billion for which Hines serves as an investment manager and €2.9 billion for which Hines provides third-party property-level services, in Austria, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.
¹AUM includes both the global Hines organization as well as RIA AUM as of December 31, 2020.
Visit www.hines.com for more information.
MilanoSesto, the largest urban regeneration project in Italy and one of the most ambitious in Europe, will transform an area of more than 1.5 million square meters, where the Falck Steelworks of Sesto San Giovanni once stood, into an efficient, sustainable and inclusive urban center. The masterplan designed by international architecture studio Foster + Partners foresees progressive development over the next few years with landscaping, residential areas, new squares, retail and office spaces and, above all, places designed to connect people. Located in a strategic position north-east of Milan, the area is well connected to the surrounding communities thanks to the new Sesto San Giovanni railway station to be built by June 2023, the subway station and the major trunk roads providing rapid access to the city center, the tollways and the rest of Lombardy.
The development project comprises a unique mix of functions, including innovative housing based on accessibility criteria, special services for the individual and an intergenerational scheme of student housing, multifamily residences for professionals and young families, and senior housing. The area will also include a 45 hectare park, an extensive green “lung” for the entire Milanese metropolitan area, integrated with the historic industrial buildings. As a result, MilanoSesto will be a new urban center able to accommodate more than 50,000 residents, city users and visitors on a daily basis. It will also be the site of the City of Health and Research, a major public complex of clinical and scientific excellence comprising the new sites of the Besta neurological institute and the National Tumor Institute.
MilanoSesto represents an opportunity for a new ethical model of development, that starts with people and their needs, with the ambition of creating an open and inclusive community and a portion of the city in continuous evolution, in line with the interests of future generations. At the same time, the great industrial archaeology of the former Falck steelworks will be recovered and enhanced, and converted into new spaces for socialising and well-being, becoming an integral part of the area returned to the community.
Milanosesto S.p.A., the owner of the areas, and the implementing body and the contract awarder, works in partnership with Hines and Prelios, two leading real estate players recognized for their experience, reliability and transparency in relations with all stakeholders.
Visit www.milanosesto.it for more information.
About Prelios Group
The Prelios Group is the gateway to Italian real estate and the leading player in alternative asset management, distressed loan management and highly specialized property services.
With more than 40 billion euro of assets under management and over 10 million square meters of managed property, the Prelios Group provides a complete range of services and skills to manage property portfolios and distressed loans, and is the only Italian player with the capabilities to act in every phase of the Italian real estate and economic cycle.
One of the main Italian non-performing loan servicers, Prelios is the first mover in bank unlikely-to-pay credits and the leader in NPL securitization with the GACS state guarantee. With BlinkS (blinks.prelios.com) it has established the first digital NPE marketplace in Italy and one of the first in Europe. The Prelios Group is also a leading player in the management of real estate investments, both directly through funds and SICAFs and indirectly through credit funds. Prelios SGR – the Group's asset management company – handles assets of 5.9 billion euro through investment strategies implemented strictly in compliance with the principles of environmental sustainability, good governance, ethical and social responsibility.
For more information, visit www.prelios.com.