The PSD will approve a 60-metre tower at Almirante Reis. In a statement, Councillor Teresa Leal Coelho said that Portugália Plaza “makes a positive contribution to the rehabilitation of derelict land on one of the city’s structural axes”.
New homes in Lisbon
There are plans to build a 16-storey tower on the Portugália block.
The project to restore the Portugália block, which includes the construction of a 60-metre high, 16-storey building between Almirante Reis Avenue and António Pedro Street and which has received a favourable opinion from the Lisbon City Planning Department, has just been speeded up. In a declaration, the PSD gave “its agreement in principle to this private investment”.
In the press release, the PSD states that it has asked the executive to make two presentations to citizens, which will extend the deadline for the public consultation (scheduled until 12 May). But according to an agreement between the SP and the PSD, the work has the green light to begin.
Accommodation for Lisbon’s middle class
The PSD considers Portugália Plaza as a “structuring project, supporting housing in Lisbon and the relocation of residential areas for the return of the middle class to the heart of the city”.
As reported on Saturday, the northern part of the project, which is in consultation, foresees the construction of 85 small apartments. Without ever wanting to talk about the Portugália block in particular, Margarida Martins, president of the parish council of Arroios, deplored the speculation on housing prices in this part of the city and spoke of the need to offer “affordable housing” to the inhabitants.
The Social Democrats replied that “this project has the potential to give the city back to its citizens. Consisting mainly of studio and one-bedroom apartments, the PSD believes that Portugália Plaza “is reclaiming land that is currently abandoned for middle-class housing and student residences. There is currently no information on the price of these dwellings.
For the PSD, there are also other advantages to the project, in addition to the 110 apartments that will be built in the final version: “Cultural spaces and offices, shops and service shops, around 570 parking spaces and various leisure areas open to the public, including a central garden square”.
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Private sector real estate investment
Ana Jara, a communist architect and auditor at the CML, said on Saturday that changes to the MDP may make sense to citizens but that the work “only serves private interests”. Portugália Plaza is promoted by a closed real estate fund, Sete Colinas, which belongs to another, German, fund that prefers to “keep a low profile”. They are the promoters of several residential and hotel projects in Lisbon.
Sete Colinas recently invested 120 million euros in the new Torre de Picoas. The Sete Colinas Fund, which is currently promoting the construction of the block in Portugal, is managed in the country by another fund called SIlVip, whose shareholders are the Pinheiro Silveira family, Montepio Geral and José Manuel Pinheiro Espírito Santo Silva, former director of the Espírito Santo Group.
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