Italian property giant Pirelli RE said it has been granted approval by the city of Milan, Lombardy region and the Bicocca University for the completion of its Grande Bicocca urban redevelopment project in northern Milan. The Italian group is now to launch the last phase of its Bicocca masterplan, which commenced in 1989. With a total of 810,000 m2, the project is allegedly the largest urban regeneration project of recent years in the country.
Italian property giant Pirelli RE said it has been granted approval by the city of Milan, Lombardy region and the Bicocca University for the completion of its Grande Bicocca urban redevelopment project in northern Milan. The Italian group is now to launch the last phase of its Bicocca masterplan, which commenced in 1989. With a total of 810,000 m2, the project is allegedly the largest urban regeneration project of recent years in the country.
'With the signing Pirelli RE completes a 20-year project which was focused on the principle of made in Italy, both in terms of the architects drawing up the plans and the interior designers and landscape architects,' said Carlo Puri Negri, CEO of Pirelli RE. 'Bicocca is now the only example of urban centrality realised in Italy: its completion will make it possible to properly judge the entire urban transformation process, achieved through dialogue with the public authorities with the goal of obtaining a balance between different urban functions.'
The last phase, covering an area of 142,000 m2, will involve construction of 49,500 m2 in new housing, 5,000 m2 for commercial services, 24,000 m2 for the Bicocca Center park, 44,500 m2 in new subsidised housing, as well as 12,000 m2 in social housing and 17,000 m2 in extensions to the Bicocca University. The plan also involves the redevelopment of new 11,000 m2 commercial and entertainment facilities as well as 15,000 m2 of exhibition space.
