AXA IM Alts starts construction of c. 30,000 sqm urban residential regeneration project in San Siro, Milan
- 17 November 2023
AXA IM Alts, a global leader in alternative investments with over €185 billion of assets under management[1], announces that it has, acting for its clients, begun construction of a c. 30,000 sqm (c.320,000 sq ft) urban residential regeneration scheme in the San Siro neighbourhood of North West Milan. A ceremony today inaugurated the launch of the project in the presence of Mayor Giuseppe Sala and the Urban Regeneration Assessor of the City of Milan, Giancarlo Tancredi.
The project, designed by Studio Marco Piva, forms part of the broader regeneration of the Via dei Rospigliosi area located in Milan’s San Siro neighbourhood and will deliver 30,000 sqm of residential units, of which c.50% will be affordable housing. Redbrick will act as development manager.
In line with AXA IM Alts’ sustainable investment approach, the apartments will be powered entirely by renewable energy sources and residents will benefit from on-site electric vehicle charging points. As part of the regeneration, and in line with AXA IM Alts’ commitment to drive positive change in society and benefit the local communities in which it operates, AXA IM Alts will also significantly expand the surrounding neighbourhood’s outdoor amenity by developing a 10,000 sqm park with new footpaths, outdoor meeting areas and exercise facilities. Moreover, AXA IM Alts will improve local biodiversity by planting over 100 new trees and preserving three historic plane trees on-site, generating carbon savings of c.10 tonnes per year. The project is targeting EPC Class A energy certification for the full scheme.
Located in an area known for its green spaces and sports facilities, the scheme is adjacent to the world-famous San Siro football stadium, home to A.C. Milan and F.C. Internazionale, and the San Siro Ippodromo metro station, providing residents with direct access to the city centre in under ten minutes.
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1. Source: AXA IM Alts unaudited data, as of 30 June 2023
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