Madrid continues to grow through the expansion of its outlying areas, and Operation Chamartín is a good example of this trend. The project, which was bogged down for years in the courts and civil service red tape, envisages the exploitation of an area spanning three million m² in the north of the capital, which will affect the city’s growth and functionality.
This urban development comprises sinking the rail track that leads to Chamartín station underground, and the construction of over 26,000 homes and 15,000 office towers. It will also provide Madrid with 400,000 m² of green areas.
Operation Chamartín, one of Spain’s most important urban campaigns, involves the transformation of the face of the capital’s north zone. The Paseo de la Castellana will be extended by 3.5 kilometres from the North junction to the M-40, going beyond the boundary of the M-30 and Chamartín station that divides the zone in two. Sinking the tracks that lead to this station from the point at which the high-speed trains heading north intersect, will allow for the exploitation of a 300-hectare area in the middle of the city. Over 26,000 homes will be built on this expanse, some 10% of which will receive some type of official subsidy. Plans also include 15 office towers, including those to be built on the grounds of the Real Madrid sports complex, and 400,000 m² of green areas to be enjoyed by the residents of Madrid. In addition, the project envisages upgrading the East-West connection of the North and Far North junctions as well as new points of access to the Castellana from the M-30 and M-40. This project requires a e 3,000 million investment, which is to be provided by the Ministry of Public Works, the Community and the Municipality of Madrid along with the landowners and Renfe.
Source: Spanish Real Estate