Nhood transforms Auchan Alverca with investment of 32 million euros
Nhood Portugal, a global platform for real estate solutions in mixed-use projects, has presented the project to transform the Alverca Commercial Gallery, a space under its management and in which it will invest close to 32 million of euros, on behalf of Ceetrus, the new owner of the asset in co-ownership with Auchan.
This project revitalizes a well-known real estate complex in the territory of Alverca, that has been neglected for the past 30 years, ensuring the expansion and diversification of its original functions, in an adaptation to the social context, now appearing as a central element of the urban fabric, cohabiting in close connection with the surrounding ecosystem.
Mixed-use and sustainability
With an annual average of 2.8 million visitors, in a parish that saw a 3.98% increase in families between 2011 and 2021, the endeavour will revitalize a block of 78,000 m2 of gross construction area where it will be possible to shop, have a good time, access health and wellness services and live. For this mixed-use project, Nhood Portugal established three major axes:
- More Offer, with the commercial area gaining new stores and services, which complement the existing hypermarket and retail gallery, namely a Citizen’s Store implemented in partnership with the Municipality of Vila Franca de Xira; a Gym; a Health and Wellness space and a Leroy Merlin store, which will include a construction area and will add a new concept to the commercial mix.
- More People, with the creation of more spaces to live and explore the city centre. Develop a new centrality by changing the original use of offices in the towers, currently unused, into renting solutions. There will be more than 100 units, from studios to three-bedroom flats, ready to accommodate more than 200 people, complemented by a leisure and sports area accessible to all.
- More Sustainability, through an ESG and positive impact strategy designed to make the project a benchmark for sustainable construction, with emphasis on BREAM certification, energy efficiency solutions and reduction of carbon emissions.
With a privileged view of the Tagus Estuary, the project stands out for its green areas and the promotion of biodiversity, with 1,800 m2 of gardens and green roofs, 4,650 m2 of permeable areas and its commitment to renewable energies, with the installation of over 900 photovoltaic pannels. To reinforce the connection to the city and promote soft mobility and a healthier and more sustainable lifestyle, the project will be integrated with the city’s cycle path network.
The construction is scheduled to start in late July 2023, with the conclusion of the first phase expected in June 2024. This first phase includes the entire retail area, leaving the reconversion of the towers for the second phase, which will start in 2025.
📽️ Watch the video of project, here.