Large Residential Projects Desired for Rio’s Porto Maravilha

RIO DE JANEIRO, BRAZIL – Marcelo Conde, son of Rio’s former mayor Luiz Paulo Conde, and CEO of STX Real Estate Development, during a panel discussion on residential and commercial enterprises, submitted a list of suggestions for strategic actions to encourage investment in housing projects in Rio’s developing Port Region.

Among them are:

– the creation of green areas, increased local safety, management of the hillside and development of the Morro da Providência favela;

– inclusion of the region in the Rodrigues Alves expressway, continuity of the Conde Waterfront towards the Gamboa Wharf;

– legislative incentives for residential buildings, incentives to retrofit the houses of Gamboa;

– flexibility of INEPAC (State Cultural Heritage Institute) and IPHAN (National Institut of Historic and Artistic Heritage) parameters; and

– reduction in the cost of CEPACs (Center for Studies, Projects and Community Action) and greater supply of parking lots.

According to the publication of the Diário do Porto website, STX in Rio de Janeiro carried out a feasibility study for the interrupted work of the Porto Vida project, an unfinished mixed-use complex near the Rio Bus Station and the final station of VLT (Light Rail Vehicle) line in downtown Rio.

It is located next to the tower built by Odebrecht to be a hotel with the Holiday Inn flag, the largest hotel in the Port Region. The tower stands out in the region’s scenery near Rio Bus Station, but is still empty.

The Porto Vida plan included more than 2,000 residential units, designed to attract various publics, towers for student and senior use, as well as offices, shopping centers, a large leisure area and parking.

The entrepreneur also presented a sketch prepared by STX of an artificial island in Guanabara Bay for an integrated resort to be built by US billionaire Sheldon Adelson.

It is a tourist complex with a convention center of 88,000 square meters, a show arena, a casino and two hotel towers, with a total of 1,700 units. Connected by the Conde Waterfront, the island would have easy access for pedestrians, cars, yachts and even cruise liners, becoming an international pole for leisure and commerce.

Fábio Quintino, Undersecretary of State Housing, spoke about the difficulty posed by the prices of CEPACs (certifications for above-grade construction) for real estate ventures in the region.

Fábio argues that the bank should adopt the strategy of selling CEPACs for lower prices for the first residential developments, contributing to stimulate the market and value the bank’s own assets, the largest owner of properties in Porto Maravilha and holder of the right to build above the basic standards in the most valued areas of the region.

“This is needed so that people not only work, but also live here,” said Fábio Quintino.

Other specialists have also come out in favor of greater occupation of the Port Zone.

“A greater presence of people living in the Port Region is very significant. With well-developed ideas, this residential presence in the Port can both yield medium-term economic results and can reverse the picture of disorderly development of urban territory. We always speak volumes about companies, but the city is rather a place to live and to earn a living. More people living together in better conditions will attract more business and investment. This is the basis of a good city. Housing policy is building neighborhoods, public spaces, addresses and good places,” said architect and urban planner Washington Fajardo, who had a major role in the renovation of Porto Maravilha, during Eduardo Paes’ administration at the head of Rio’s City Hall.

Source: diariodorio