A post about the ambitious and sustainable development project Madrid Nuevo Norte, which offers many business opportunities to investors and to companies in urban development, transportation, renewables, or sustainable development.
Madrid Nuevo Norte (New Northern Madrid, in English) is the largest urban regeneration project in Europe. With the goal of developing what is currently a large, empty space (over 2.3 million m2 in the north of the city of Madrid), the project will require an investment of more than 7 billion euros (3.8 billion in public funds) and is expected to generate 250,000 jobs over the next few years.
The new space will include housing, offices, businesses, public facilities, green spaces and public transport. The distribution by percentages is outlined in the image below.
Plans for land usage (%)
More than 400,000 m2 will be reserved for green spaces and another 250,000 m2 for public facilities, such as recreational centers, schools, and medical clinics.
At the root of this project is the renovation of the Chamartín station. The project is based on Transit-Oriented Development (TOD), an approach which responds to radical changes in mobility behaviour. The new transport network will include:
- A new underground line with three stations
- A new commuter train station
- A completely renewed commuter train station
- A new Bus Rapid Transit (BRT) line
- Two new hubs (Chamartín and La Paz)
- Two above-ground hub areas at Fuencarral
The Madrid Nuevo Norte project is based on an innovative city model, and aims to ensure that sustainability is integrated throughout all components of development. Distrito Castellana Norte, the private developer behind the project, has applied for both BREEAM and LEED certifications – the first European project to do so.. These two globally-recognized certifications ensure commitment to all aspects of sustainability (environmental, social, and economic).
Álvaro Aresti, President of Distrito Castellana Norte, was quoted as saying that the Madrid Nuevo Norte is “a 100% sustainable project which will create a 100% sustainable city”.
The Gedeth team was first introduced to Distrito Castellana Norte during the Canadian business delegation we organized around the Smart City Expo World Congress – and we were blown away by the size, scope, and ambition of Madrid Nuevo Norte!
In addition to the obvious opportunities the project offers for companies in the smart cities sector, if you work in urban development, transportation, renewables, or sustainable development, or if you are looking to invest, you could be just what this project needs! Contact us to find out how to get in on the action.