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Project in Uruguay Plans Extensive Occupation in Atlántida, with Investment Announced of Up to US$ 500 Million and Initial Processing.
The proposal bets on mixed uses and articulation with public agencies, while technical details of the urban plan and timelines depend on authorizations and documentation.
An urban project announced in Uruguay envisions the creation of a “city of the future” in an area of 238 hectares in Atlántida, a seaside resort in the department of Canelones, on the Costa de Oro.
Named El Águila, the plan is led by the architecture and development firm Kopel Sánchez, in association with the Estudio Luis E. Lecueder.
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The disclosed estimate for the investment is up to US$ 500 million, an amount presented as equivalent to approximately R$ 2.6 billion.
The enterprise is in the initial phase and depends on a sequence of authorizations to move forward.
According to the description presented by the responsible parties and reported in a feature by Forbes, the goal is to form a new urban center in the metropolitan region of Montevideo, with mixed uses and integration into the existing fabric, rather than a closed model of occupation.
Atlántida, Canelones and Costa de Oro on the Project Map
Atlántida is a seaside resort on the Uruguayan coast and is part of the department of Canelones, in a coastal strip known as Costa de Oro.
The region combines areas with a strong presence of seasonal residences and, at the same time, concentrates demands for services and infrastructure throughout the year, according to descriptions used in materials and reports on the subject.
In this scenario, El Águila is presented as a large-scale development, designed to engage with the already established city and attract new economic activities.
The plan, according to its creators, aims to increase the supply of housing and services, reducing exclusive dependency on the high season.
Mixed Uses, Sustainability and Public Space in El Águila
The urban proposal is based on the idea of “mixed uses,” with different functions coexisting in the same mesh.
Among the components mentioned are permanent housing, vacation residences, commerce, hospitality, offices, experience centers, leisure spaces, and activities related to innovation.
It was also reported that the design aims to prioritize public space, sustainability, and quality of life, with an open urban fabric connected to the surroundings.
In the description presented, the enterprise is conceived as a development integrated into the territory, with circulation and occupation planned to articulate with the existing area.
In a statement attributed to Kopel Sánchez partner, Sebastian Sánchez, the project was described in the following terms: “The goal of El Águila is to generate a city. It is not just a neighborhood, it is not just a business area nor a piecemeal real estate development. It is all of these at once.”
Investment of Up to US$ 500 Million and a Timeline of 20 Years
The disclosed projection indicates a total investment of up to US$ 500 million, with execution scheduled over approximately 20 years.
Implementation, according to the mentioned estimate, would occur in phases, following administrative processing and the advancement of real estate projects in the area.
The responsible parties also describe the plan as flexible, with the capacity to adapt over time.
This type of modeling, according to the enterprise’s own presentation, aims to accommodate changes in demand and urban planning without altering the central objective of the development.
National Interest and Participation of Public Agencies in Uruguay
The proponents claim they intend for El Águila to be declared a project of national interest.
If this classification progresses, the initiative would involve public agencies and an articulation with different government levels, according to the information available.
Among the mentioned institutions are the Intendencia de Canelones and ministries related to areas such as Economy, Housing, Environment, and Transportation.
The participation of these agencies, according to what was disclosed, would be related to the necessary technical, urban, and environmental analyses for the implementation.
The presented estimate is that the process for obtaining authorizations could take about a year and a half.
In sequence, the cited projection is that, in approximately two years, specialization of the lands and the drafting of the first real estate projects could begin, always conditioned to the progress of licenses and the required procedures.
What Is Lacking in Detail in the Masterplan and the Goals of the Enterprise
So far, there is no consolidated public list of technical specifications that allows detailing items such as expected density, mobility parameters, infrastructure design, and total capacity for occupation.
Data such as the number of housing units, stages with defined milestones, or the exact distribution of uses in the territory have also not been fully presented.
Therefore, the current stage is described as initial, focusing on guidelines and regulatory forwarding.
The next phase, according to the logic pointed out by the responsible parties, is to transform the proposal into technical and urban documentation, necessary to support licenses, schedules, and contracts.
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