COIMA SGR (COIMA) on behalf of institutional investors has revealed plans to redevelop an existing 1950s building in Milan into an innovative, technologically sophisticated and highly sustainable new office project.
Designed by Piuarch, the project in Piazzale Zavattari 12, between San Siro and City Life, will see the building, which was part of the Isotta Fraschini car factory, redeveloped into a forward-thinking office building, with circa 14,000m2 across 12 floors, as well as 1,400m2 of panoramic terraces and multifunctional and retail spaces.
The area around Piazzale Zavattari is undergoing significant development and it is being transformed into one of Milan’s key new commercial neighbourhoods.
The office development, called Ivory, is being designed with a strong focus on wellbeing and sustainability, targeting LEED Gold®, WELL Gold®, and WiredScore Gold® certifications. The project will also incorporate locally sourced and environmentally safe Cradle to Cradle® certified materials and products based on circular economy strategies.
The project is being designed to massively improve the energy efficiency of the existing building. On completion, over 65% of its energy needs will be provided through on-site renewable sources, including a geothermal system for air conditioning and a photovoltaic system on the roof.
Matteo Rava, Head of Fund and Asset Management, COIMA, said: "The redevelopment of Piazzale Zavattari 12 is aligned with the value-add strategy of COIMA’s Odyssey Fund, which aims to revive and reuse buildings to create new customer-focused assets with modern amenities and the highest standards of sustainability. Ivory is located in an area of Milan that is well connected to the public and private transport network and is set to become one of the city’s most important new business and lifestyle hubs. This project confirms COIMA's strategy aimed at building reuse, which in the last 12 months has led to the completion of projects comprising more than 50,000m2 with an investment value of over €400m. We are committed to developing further sustainable reuse projects comprising 140,000m2 with an investment value of around €1b."
Gino Garbellini, a partner of Piuarch studio, said: "The design aims to reuse and revive this 1950s factory building, taking elements of the original project and integrating nature, community, workplaces and technology to create a distinctive and sustainable new office building. This innovative next-generation office building will be highly energy efficient, incorporating a range of technologies and will provide flexible spaces that open up to the outdoor terraces and offer stunning views of the city. Ivory is aimed at creating a workspace that provides the very best office environment and also enhances the health and wellbeing of employees and stimulates social interaction, which is so important for today’s workplace.”
