THE INITIATIVE
RENAZCA is the result of an initiative led by the owners of the tertiary buildings in AZCA to reform and revitalise it.
Renazca was established as a company that currently brings together seven businesses: GMP Sociedad de Inversiones Inmobiliarias, Merlin Properties Socimi, Monthisa Real Estate 2020, Corporación Financiera Alba, Banco de Crédito Cooperativo Grupo Cajamar, Mapfre, and Hi Partners.
With the support of a team of national and international architects, Renazca undertook a project to reform and revitalize AZCA, involving the entire community of residents of Orense (COMUNAZCA), the local merchants’ association (PROAZCA), and the other office owners in the block.
The project was submitted to the City Council on December 31, 2021, through what is known as a Feasibility Study, the initial step in a contractual concession administrative process. A public information period took place and a Collaboration Protocol between Renazca and the Madrid City Council was signed. The Madrid City Council, through the Department of Public Works and Equipment, redirected the management process to a direct execution system, where the City Council will act as the sole promoter of the project, maintaining the the initial project with modifications derived from the accepted claims during the public information process. Four new companies also joined the initiative: El Corte Inglés, Pontegadea, Mutua Madrileña, Generali, and the “Oficina Española de Patentes y Marcas”.
After the signing of the corresponding Collaboration Agreement, which is currently being worked on, the current project will be transformed into a basic project that will later be subject to a public tender by the City Council for its execution, both in municipally-owned spaces and privately-owned spaces with public use. This will make it possible to undertake a major comprehensive renovation of all public-use spaces in AZCA, across the three levels in which the area is structured.
On the other hand, in order to include the residential communities on Calle Orense and Avda. del General Perón in the project’s scope of intervention, they have signed an agreement with Renazca, under which Renazca will act on their behalf. This agreement also authorizes the City Council, as the project’s promoter, to intervene in the privately-owned public-use spaces belonging to the different communities of property owners.
PROCESS
