Italian special purpose vehicle Romania Sviluppo has opened the first phase of the To Dream urban district project worth a total of €250 mln.
The first lot of 25,000 m2 on the site of the former Michelin factory in Corso Romania consists of 56 commercial, catering and service activities, including 14 restaurants.
The entire project, with a total area of 270,000 m2, is due for completion in H2 2024.
At full regime, Turin’s largest shopping mall will consist of 100 stores, including top brands and new brands in Italy.
Turin mayor, Stefano Lo Russo, said: ‘The project is the result of an urban regeneration work that combines the enhancement of public spaces, economic revitalization and services to citizens. The spaces created in the former Michelin industrial area will also contribute to that social reconnection in which our administration believes and on which it intends to invest a lot in these years, continuing to support urban regeneration projects to take places away from degradation and make Turin always better.’
Francesco Federico, CEO Romania Sviluppo, added: ‘To Dream was born with the ambition of bringing benefits to a wide territory; it is an extraordinary urban regeneration project with a clear social value. The complete project recovers more than 270,000 square meters of industrial area giving back to citizens a piece of the city that will offer services, employment, accessibility, efficient and alternative mobility systems (including soft mobility).’
The 88,000 m2 covered area will include 45,000 m2 of stores, restaurants and services; 20,000 m2 of recreational leisure activities, hotel, gym; 20,000 m2 of retail park and 3,000 m2 of offices, including the Michelin Italia HQ.
There will be 25 restaurants, a cinema with eight screens, a gym, one of the longest go-kart tracks in Europe, a 4-star Marriott hotel with 120 rooms, all surrounded by a 40,000 m2 public urban park.
A parking with over 4,000 parking spaces, 400 charging stations for electric cars and more than 150 stalls for bicycles are planned.
Romania Sviluppo was set up to develop the project by real estate company Ceetrus (controlled by France’s Auchan Group) and commercial developer Runca.
Real estate solutions company Nhood is the manager of the space, Realia is responsible for the marketing, while Master Retail is the general contractor and project manager.
The project is by architect Adolfo Suarez, director of L22 Retail, a brand of Lombardini22 Group.
To Dream is located in a strategic area: between the Turin ring road, provincial road 11 and the A4 Turin-Milan highway, with a catchment area of 1.6 million inhabitants.
