Italian retail property specialist IGD Siiq has unveiled plans to transform a major industrial site on the waterfront of the city of Livorno into a mixed-use scheme comprising retail, office and leisure accommodation.
Italian retail property specialist IGD Siiq has unveiled plans to transform a major industrial site on the waterfront of the city of Livorno into a mixed-use scheme comprising retail, office and leisure accommodation.
The project, known as Porta a Mare, is worth more than €200 mln and is managed by Porta Medicea, a 80-20 joint venture between IGD and local developer CMB di Carpi.
‘With Porta a Mare we are giving back to the city of Livorno an important area. This project will inject new life into the city and its waterfront,’ Daniele Cabuli, COO at IGD Siiq told PropertyEU during the Mapic trade fair.
Developed in phases, Porta a Mare aims to transform the former Cantieri Orlando industrial area on the waterfront of Livorno into a mixed-use complex comprising commercial, tourist and residential space and covering over 10 hectares of land.
Construction has already started on the residential section of the scheme while work on the commercial part is planned to begin in spring 2014, Cabuli said. In total, Porta a Mare will offer over 5,200 m2 of offices, 14,600 m2 of housing and over 50,000 m2 of retail and hospitality accommodation. The entire complex is due for final completion in 2018.
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