US privately-held developer-investor Hines has been picked by the Milan municipality for a major urban regeneration project representing an investment of around €200 mln.
The project, known as Molecola, is located at Milan’s Nodo Bovisa and involves a 90,000 m2 site which is expected to become a new tech district to support the nearby university area.
The project, which is due for completino in 2026, will involve the development of PRS apartments along with 1,100 student beds as well as the future headquarters of railway group Ferrovienord S.p.A.
‘We are very happy with the definitive awarding of the Bovisa Node, which represents a great opportunity to" reinvent" and regenerate an area relevant to the technological and university center which is not yet sufficiently valued in terms of sustainability, greenery, infrastructures and, not lastly, from a residential perspective,’ said Mario Abbadessa, senior managing director & country head of Hines Italy.
He added: ‘The Bovisa area represents a further opportunity to work for the city in close collaboration with the Municipality of Milan and the Polytechnic of Milan, perfectly fitting into Hines' living strategy, which already includes significant urban regeneration projects under development, such as the former Trotto area and MilanoSesto.’
