Puerto Madero

The Puerto Madero regeneration project transformed the area into a mixed-use urban district with a variety of building types and land uses. The development included high-density residential buildings, commercial spaces, hotels, and public amenities such as parks and cultural institutions. By 2010, approximately 2.25 million square meters of built-up area had been developed, with residential spaces constituting a significant portion of this total. The master plan allocated specific areas for different uses. The eastern side of the docks was primarily residential, while the western side included a mix of commercial and educational buildings. Public parks and green spaces, covering over 28 hectares, were integral to the project, providing recreational areas and enhancing the urban environment. The flexible zoning allowed for a dynamic mix of uses, contributing to the district’s vibrant character and making it a popular destination for both residents and tourists.

The Puerto Madero regeneration initiative significantly boosted Buenos Aires' economy by transforming underutilized port land into one of the city's most valuable real estate areas. The sale of land and development rights within the 1,700,000 sqm project area generated substantial revenue, with land prices multiplying eightfold over the project's 25-year span. Between 1991 and 1993, the initial sales of refurbished warehouses and land on the western side of the docks raised approximately USD 54 million. By the project's third stage (1997-1999), land sales amounted to USD 173 million, demonstrating a significant increase in property values. The total public and private investment in Puerto Madero reached approximately USD 2.5 billion by the project's completion, reflecting its success in attracting local and international developers. Additionally, the project stimulated job creation in the construction sector and related industries, further contributing to economic growth in Buenos Aires.

The regeneration of Puerto Madero had a transformative effect on the urban landscape of Buenos Aires, particularly through the creation of green spaces and the restoration of the riverfront. The project included the development of several large public parks, such as the Micaela Bastidas Park and the Mujeres Argentinas Park, which together cover over 170,000 sqm. These green spaces not only provided aesthetic and recreational benefits but also contributed to the ecological health of the area by enhancing biodiversity and mitigating the urban heat island effect. The project also improved the infrastructure of the area, including the installation of modern sewage and drainage systems, which helped reduce pollution in the Rio de la Plata. The emphasis on sustainability in the urban design of Puerto Madero reflects a broader commitment to environmental stewardship, although the project’s full impact on the city’s environmental challenges remains a topic of discussion.

The Puerto Madero project transformed a decaying port area into a vibrant, mixed-use urban district that integrated residential, commercial, and public spaces. The project created a new residential neighborhood, providing high-quality housing and amenities, although it primarily catered to a high-income market, raising concerns about social inclusion. The development of public parks and promenades along the riverfront greatly improved the urban environment, providing much-needed recreational spaces and enhancing the quality of life for residents and visitors. The project also contributed to the revitalization of the adjacent central business district, changing public perceptions of downtown Buenos Aires and drawing people back to the city center. However, the project has been critiqued for not addressing the broader housing needs of middle- and low-income residents, highlighting the social limitations of the regeneration effort.

The renovation project did not receive any certification.

The project has been mainly funded by the public limited corporation Corporación Antiguo Puerto Madero S.A., which employed resources generated from land sales to develop the public infrastructures. Private developers also funded the regeneration initiatives employing private resources to conduct their redevelopment projects on land plots.

The renovation project has been mainly financed through the selling of land ownerships to private developers from the Corporación Antiguo Puerto Madero S.A. The public corporation adopted a series of land management instruments to finance the project by acquiring the land ownership of the entire site, conducting the rezoning in order to host the different land uses envisioned by the masterplan, and selling the land to private developers. In addition, the Corporación Antiguo Puerto Madero agreed to lease a small area of the Puerto Madero site to the General Administration of Ports under the payment of a rent to the public corporation. The Corporación Antiguo Puerto Madero received the ownership of the General Administration of Ports through the Presidential Decree n. 1279 adopted by the National Government of Argentina. The Municipality of Buenos Aires approved the rezoning and the modification of floor-area ratios on the land plots by adopting several amendments to the Urban Planning Code. From the private side, private developers employed private resources to acquire the land plots and conduct their redevelopment projects.

Image from Monica Volpin, retrieved here. Used under Content License.