Hines, a global real estate investment, development and management company, is launching the first building site with private capital that will give life to Unionezero, a regeneration project – located near the new City of Health and Research – with the aim of reconnecting the former Falck area with the territory of the municipality of Sesto San Giovanni and the city of Milan.
The first construction site, contracted out to two Italian entrepreneurial excellences, formed in a temporary association of companies between Colombo Costruzioni S.p.A. and CMB, envisages an investment of 220 million euro, 36 months of work and an average of about 300 specialised workers per day for the construction of 3 buildings.
This first phase of construction involves the development of an office building of approximately 48,000 square metres, which will house Intesa Sanpaolo’s new offices and will be handed over to the Bank by the end of 2027, a further office building of 45,000 square metres with the possibility of also multi-tenant rental, both designed by ACPV Architects, and a student building of approximately 39,000 square metres and 700 beds, designed by Park Associati.
All the spaces aim to obtain the highest environmental certifications: LEED Platinum and WELL Gold certification for the executive spaces, while the student residence will be LEED Gold certified.
For the overall realisation of Unionezero, an investment of about EUR 600 million is planned, which will generate an estimated induced revenue of about EUR 1 billion in the area.
Mario Abbadessa, senior managing director & country head of Hines in Italy, said: “After a long and complex reclamation process, we are ready to start work on Unionezero, fulfilling the commitment made to the city of Sesto San Giovanni, which has been waiting for over twenty years to see the rebirth of such a strategic area for the entire Lombardy region. In fact, the new urban pole that we are building will transform a large portion of the Ex Falck area into a dynamic and attractive neighbourhood, which will make a tangible contribution to increasing the offer of new residences and student halls of residence at the service of the entire metropolitan area of Milan, as well as new flexible and sustainable work spaces. Together with Ex Trotto Milano, the Unionezero project represents a further example of the urban and social regeneration model promoted by Hines, which starts from people’s needs and the new requirements linked to changing lifestyles, thanks to a long-term vision”.
Unionezero will cover an area of approximately 250,000 square metres and will provide a functional mix, including office space, student halls, and residences, accommodating a total of approximately 6,000 people.
The new Unionezero district will be predominantly pedestrianised, rich in diffuse greenery, with the inner courtyards of the residential buildings also accessible to non-residents.
Together with the development of the buildings, Hines will also manage the functional urbanisation works for the new urban centre and the City of Health and Research, the project promoted by the Lombardy Region.
For more information visit www.hines.com.
