Italian asset manager Coima Sgr said this week that it has awarded architects Diller Scofidio + Renfro (DS + R) and Stefano Boeri the architectural project for the Pirelli 39 mixed-use redevelopment project in Milan.
These architectural companies emerged ahead of 70 groups that took part in the international competition with 359 architecture, landscape / urban design and engineering firms representing 15 countries.
Coima bought the site in 2019 on behalf of the Coima Opportunity Fund II investment fund, financed by a pool of Italian banks consisting of UniCredit, Intesa San Paolo, UBI Banca and Banco BPM, following a public auction by the Municipality of Milan.
The project is expected to represent an investment of around €300 mln, including the acquisition of the site. Located the centre of the Porta Nuova Gioia area, the project is part of the wider regeneration process of the entire area that started with the redevelopment of Gioia 22 and will be completed in the coming years with the development of Pirelli 35 and Gioia 20, for a total investment of over €1 bn.
The Pirelli 39 project involves the construction of a new residential tower, the redevelopment of the existing building as well as the introduction of a bridge building as a hub for events, shows and exhibitions, with meeting and wellness areas and a biodiverse greenhouse space. Pirelli 39 will be the first Italian project fully measurable according to ESG criteria, and is targeting zero use of follies fuels, Coima said.
‘Today's presentation is an important moment of discussion with Milan and with our country.In light of the health emergency, I believe that the regeneration is key in the strategic relaunch of Italy from a cultural, environmental, social and economic point of view,’ said Manfredi Catella, Founder & CEO of Coima. ‘Our country is full of iconic buildings and extraordinary places which, as in the case presented today, need to be rewritten and rethought according to criteria of sustainability and innovation: a path and a mission that we have been sharing with our investors for a long time and that can represent a catalystlever for our cities and our country, and a model for development on a global level.’
‘Our studio is thrilled to have this opportunity to make a meaningful architectural contribution to the city of Milan, our first project in Italy,’ added Elizabeth Diller, partner at Diller Scofidio + Renfro
‘This project will reinvigorate the iconic former Pirellino building, creating a new tower that mixes architecture and nature to create a green space that is open to the whole city. In such a difficult period, this project relaunches the vision of a forward-looking Milan and bravely faces the great challenges of the climate crisis,’ said Stefano Boeri, founder of Stefano Boeri Architetti.
