Valle Oriente

Monterrey Lives Investment Boom In Real Estate Developments Against All Odds

News, Travel, Videos

Against All Odds

** ** There is an update of this article on my website WL ** **

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Monterrey currently experiences an investment boom in real estate developments. Residential vertical developments, office buildings, shopping centers, mixed-use developments, state government buildings, a river walk, and a new soccer stadium are among the array of construction sites that have popped up in Monterrey’s urban landscape in recent years. It is estimated that in 2012 alone over 2 billion dollars were invested in different projects by foreign investors throughout Monterrey metropolitan area and especially in Valle Oriente, in the San Pedro municipality. The developments continue in 2013 much against the organized crime violence the city has lived in the last three years. Some local investors preferred to leave the city and moved to San Antonio or Houston while others have decided to stay and fight for the city’s future. Among the ones staying is Lorenzo Zambrano, the CEO of Cemex, the third world largest cement company and the biggest construction company. Those who wanted to leave and could dispose of $100, 000 to invest quickly had investor’s visas granted in the U.S.

Monterrey Skyline

Monterrey and the municipality of San Pedro Garza García have long been México’s richest area based on per capita income. The Monterrey metropolitan area is home to local and foreign multinational companies. San Pedro is still today the richest city in all Latin America with a level of development equal or better than some European cities. It was there where Valle Oriente began to take shape during the 1990s. The area was reserved for houses on the one hand and office buildings and retail developments on the other hand but developers in the real estate market required separate permits; as a consequence only few mid to high rise buildings were built there. Among them are Torre Comercial América and the Avanlanz tower [formerly Dataflux]. It was in 2008 that San Pedro’s city council approved the change in the use of land to mixed-use for Valle Oriente and other neighborhoods, anticipating the development the sector would have with the measure.[i] Ever since the new regulation was approved, mid to high rise developments have multiplied especially in the form of vertical housing or condominiums and full mixed-use (retail, residential, office) buildings. No longer was Valle Oriente going to see one or two story houses on one side and office and retail developments on the other side. Valle Oriente runs along Lázaro Cárdenas Avenue and the extended area goes all the way east to Monterrey on the same street for about seven miles. The avenue was nicknamed Las Torres by local residents because tall power line towers ran along it; coincidentally, the site has truly become a place for towers.

 

Contrasting San Pedro, downtown Monterrey had mid rise buildings and mixed-use buildings all along. The tallest buildings were in the Monterrey municipality until the construction of  Torre Comercial América and Avalanz Tower in Valle Oriente during the 1990s. Even so Monterrey itself had some mid rise developments built with Oficinas en el Parque in an area that stretches to Valle Poniente in the Santa Catarina municipality. Other mid rise vertical housing developments such as El Capitolio on top of a hill that connects Monterrey to Valle Oriente, and several hotels were built in the Galerías (San Jerónimo) area during the following years. But overall, developments in Monterrey started to decline in favor of Valle Oriente. It wasn’t until Paseo Santa Lucía (Monterrey’s river walk) materialized that the planning for new developments started as part of the  renovation of the city’s infrastructure, particularly in downtown Monterrey.

Monterrey’s Current Investment Boom

The first development considered high rise to Mexico’s standards was built in downtown Monterrey sponsored by the state government and next to the river walk of Paseo Santa Lucía. Torre Ciudadana andPlaza Cívica are now the new headquarters of Nuevo León’s government. Paseo Santa Lucía along with museums and restaurants had already been planned to serve as a magnet to bring more tourists and investors to what it was until then a primarily industrial and commercial area.

The developments in the real estate market were triggered by different factors of which Nuevo León state government developments in downtown Monterrey, local and foreign private investments in Valle Oriente, and these central areas running out of estates where to build housing developments are the most important ones. From that point on, the investors decided to go vertical and multiple developments added to the Skyline higher constructions.

Monterrey metropolitan area continues to be an attractive market for real estate developments and other industries along with parts of México such as México City, Guadalajara, Querétaro, and Puebla. According to the World Bank and financial news authors, the current situation constitutes a miracle as they call it the “Mexican Miracle”. The growth in the Mexican economy is expected to keep steady despite the challenges in security the nation faces and needed reforms in the energy and telecommunications sectors.[ii]

Internacional de Inversiones Promotional Video

The Developments

The following is a recount of the developments in the real estate market in the Monterrey metropolitan area that are already built or under construction.  Developments that are 30 stories and/or 100 meters high were included on this list.[iii]

VAO

Internacional de Inversiones is building one of the most important developments in Valle Oriente. It will be a mixed-use area that includes these buildings: VAO  Business Center, Shopping Center, Koi Sky Residences, and Liu Residences.

Liu Residences are two already built mid and high rise Skyscrapers that house luxury apartments with a helipad. Liu West is 100m high and Liu East 160m high.

The following video was taken earlier when Liu East was still under construction. It shows a clear view of the buildings surrounding Valle Oriente Skyline.

 

Koi Residences, a mixed-use 61 story and 267 meters high skyscraper, will be destined for offices and luxury apartments. The developer started its construction phase late 2012 and it will be completed in 2015. Koi will be the tallest building in México for a brief time.

Pabellón M

Monterrey’s downtown answer to Valle Oriente is Pabellón M. It’s a 206m mixed-use building  that will house offices, a hotel, a convention center, and an executive club. It will have a helipad. A landmark auditorium for 4, 000 spectators will accompany the 50 story skyscraper.

Metropolitan Center

This Valle Oriente complex will be a mixed-use development with three towers and a shopping mall. Tower I, a 30 story and 130m high building, will host apartments. Tower II will be the highest one, 40 stories and 175m. It will also house apartments.  Tower III, 170m high, will be have a hotel and offices on the upper levels.

Torre Sofia in Arboleda

Located in the heart of San Pedro and in an area known as Arboleda, the complex will consist of several mid rise to high rise buildings amid a wooded area with public parks, shops,  restaurants, and a private club. The complex will offer offices, villas and apartments. Torre Sofia, under construction, will be a 40 story-and -160m high skyscraper destined for offices and luxury apartments. The parks is Arboleda are materailizing, but the rest mid to high rise buildings are in the planning stage. This is the case of the second highest tower of the complex, presumably called Torre Arboleda.

Arboleda Master Plan

Helicón Tower

Located in Valle Oriente, Helicón Tower is a modern office building. The 150m high skyscraper was completed in 2012. The lower 14 levels are parking spaces, the next 20 floors are reserved for office space, and the top two floors are panoramic lounges.

Saqqara

Saqqara is another project by Internacional de Inversiones near Valle Oriente. It will consists of two towers that will house luxury apartments and other buildings for office space. The twin towers will be 155m and 38 stories high.

Lovft Tower

This tower is located in Valle Poniente in Santa Catarina. The 133m high building offers apartments with a spectacular view of the mountains surrounding the city. The street known as El Aguacatal has other buildings planned ahead.

Los Arcángeles

It is a complex of luxury apartment buildings at the north edge of Valle Oriente and on top of the Loma Larga, a hill that divides Monterrey from San Pedro. Torre III is a 35 story-and-128m high building that looks higher from the Monterrey side of Loma Larga.

Micropolis

It is a mixed-use 125m high building located south of Monterrey. It offers apartments, office and retail spaces.

La Capital

This is a mixed-use development located at Paseo Santa Lucía in Monterrey. It has apartments, offices, and retail space. The tallest building is 120m high. The project was completed recently.

Ave Medical Center

AVE is a 115m tower that host medical offices. It is located in southwest Monterrey in an area of medical services known as Los Doctores.

Hotel Tanarah

Torre Tanarah was initially planned as an office building. Its construction took longer and the project was modified to be Hotel Tanarah. It was, at the maximum height of the spire, a 125m tower.  It is located at the Tanarah shopping mall in San Pedro. After all, with the shopping mall, is a mixed-use development.

Connexity

Connexity is a mixed-use development located on the extended area of Valle Oriente in Monterrey.  The highest building, Connexity Tower, is 105m tall. The complex offers retail spaces, offices, apartments, and a sky lounge.

Esatdio de Futbol Monterrey

The Liga MX professional soccer club C.F. Monterrey will count with a brand new stadium. It will host 50,000 spectators. The state government will support the development by regenerating the zone with a project known as Gran Parque Río La Silla that connects several parks along La Silla river. It will be located in the Guadalupe municipality. It’s an ambitious project that was surrounded by controversy and protests from pro environment groups. The project is currently under construction and the stadium will open in 2014.

The Stadium

Río La Silla Grand Park

Maps

Related Articles

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Mexico’s Strengthening Economy Could Bode Well for Immigration Reform

High-Tech Manufacturing Driving Economy in Mexico

El Porvenir Pabellón M

References

The World Bank Mexico Overview

Skyscrapercity

Skyscraperpage

LIU

KOI

Pabellón M

Metropolitan Center

SOFIA

Arboleda

Arboleda Master Plan

Helicón Tower

Saqqara

LOVFT

Micropolis

La Capital

Centro Médico AVE

Notes

[i] http://www.sanpedro.gob.mx/Gaceta/GACETA108.pdf

http://implansp.org/

[ii] http://www.heritage.org/index/country/mexico

http://en.wikipedia.org/wiki/Economy_of_Mexico

[iii] Developments that have been approved but for which no visual confirmation of its construction or no data was obtained from the developers’ websites were omitted from this article.

Pluto

New Astronomy Project

All Posts, News, Space & Aeronautics

I have moved the posts about astronomy to a new space here on the WordPress.com site.

They are on http://astronomyrediscovered.wordpress.com/ and named Astronomy Rediscovered.

I am looking for support for this project and I think it is feasible to launch it on its own domain.

I have a model that is affordable and I keep asking feedback from the astronomers that are willing to express themselves beyond dumb press releases.

I have the drafts for some of the content and where I’d want the project to go.

However, I see difficult to get into this undertaking by myself.

Not because I don’t have the talent to get the content and write neat, professionally researched articles, but because I just don’t have the time to dedicate my full attention to it. That is, unless I have a very attractive proposal from prospective partners that allow me to free some of my time as head of my language services website.

On the good [or bad] side… I haven’t had any attractive offers for me to continue my work on Education [I keep looking for smart people there though] and that is leaving me with some “leisure” time to spend.

Let’s see what happens.

 

 

Comet ISON – c2012 S1

Space & Aeronautics
Comet ISON will approach the inner solar system late 2013. In early October 2013, ISON will be closer to Mars than it will ever be to Earth (?). Around November 27 of 2013, c2012 S1 will be orbiting around the sun and it will start its approach to Earth. Provided it is not altered by Sol, comet ISON will create a spectacular view. Some astronomers claim it will be as bright as the moon.

Animation created with Celestia

The orbital pattern is not mine