Italian architecture firm wins Milan regeneration project
MILAN – Coima SGR – the leading Italian independent asset management company of real estate investments on behalf of institutions – has awarded Diller Scofidio + Renfro (DS+R) and Stefano Boeri Architetti the international architectural competition for Pirelli 39 in Milan.
The competition was launched on Nov. 25, 2019, with guidelines provided by Coima SGR and the Municipality of Milan. The winning project was presented on Thursday by Manfredi Catella (CEO COIMA SGR), Elizabeth Diller (DS + R) and Stefano Boeri (Stefano Boeri Architetti).
In winning the assignment, they beat 70 groups consisting of 359 architecture, urban design and engineering firms representing 15 countries. The finalists were groups from Denmark, France, Italy, England, a joint Italian and English venture, and the winning team are a joint Italian and American venture.
The site for the regeneration was first acquired by Coima in 2019, financed by a pool of leading Italian banks, following a public auction by the Municipality of Milan. It is is located in the centre of the Porta Nuova Gioia area in a strategic position between the Central Station and Scalo Farini.
The DS+R and Stefano Boeri Architetti proposal envisages a mixed use model of public-residential-tertiary spaces through the recovery of the existing tower, the bridge building over Melchiorre Gioia and the construction of a new tower.
Pirelli 39 will be the first Italian redevelopment project aligned with Next Generation EU’s post-covid regeneration guidelines, and will be in line with ESG (environmental, social, governance) impact guidelines. The ESG investement criteria includes: zero use of fossil fuels, level of operation CO2 emissions aligned with EU 2050 objectives, recovery of over 70 per cent of the original building and activation of over 5,000 in the design, construction and management phases.
The acquisition and development of Pirelli 39 represents more than 300 million euros of investment.
Coima SGR expects total investments of over 1 billions euros for the whole Porta Nuova Gioia area in the coming years, including 270,000 square metres of developed or regenerated surfaces and 20,000 square metres of public areas.