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Project Maravillas: Construction Work Resumes

Posted by: In: Real Estate 30 Dec 2016 Comments: 0 Tags: , , , , , , , , , , ,

30 December 2016 – Expansión

Yesterday, the Supreme Court of Justice of Madrid (TSJM) lifted the injunction issued the day before that had paralysed the demolition work at the Precision Artillery Workshop, located next to Paseo de la Castellana in Madrid, where the Residencial Maravillas cooperative plans to construct 320 new homes.

After obtaining approval from the Town Hall of Madrid, the project promoted by Domo Gestora was paralysed after the TSJM admitted the request filed by the ‘Ecologistas de Acción’ group to not demolish the Precision Artillery Workshop, located on this site.

The building forms part of the properties that the Ministry of Defence used to own on the plots, and according to the ruling from the TSJM, it does not have any historical value or need to be maintained for heritage purposes.

The work to demolish the building began on 16 December. In November 2014, the Ministry awarded these plots, which had fallen into disuse, to Domo for €111 million, which acquired them with the aim of constructing a development containing 320 homes, with an average price of €325,000. (…).

Original story: Expansión (by R. Ruiz)

Translation: Carmel Drake

The post Project Maravillas: Construction Work Resumes appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts


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