Porto city gains a new street and an Urban Park in Lapa

Source: Jornal de Noticias | Miguel Amorim

Source Image: Rui Oliveira | Global Images

Renaissance owners will build a green park in Porto, with 17 thousand square meters. This project is part of a contract with Porto's City Hall and the urbanization of land that was unused.

The construction of the new urban park of Lapa in the center of Porto starts the next month and it is expected to be finished within a year. The green area results from a municipality urban study, in 2019, which included the creation of an urban front. Part of this project is, also, the new four-star Renaissance Lapa Park Porto Hotel with 163 rooms, to be inaugurated in the upcoming month. The Mercan Properties Group, which owns and manages the hotel, will pay for the urban park, just as it supported the rehabilitation work on Rua de Cervantes.

Mercan Properties, which acquired land that belonged to private individuals and had been abandoned for years, provided 14,500 square meters for the park (in total there will be 17,000, with the Municipality plots) and 3,000 for the streets”. Both of “the works are funded by the private group”. Launched this month, the renovated Rua de Cervantes, parallel to Rua de Antero de Quental, will also improve mobility in the most central area of ​​the city.

Lakes and direct access to the metro

The Hotel will grow

For the managing director of Grupo Mercan Properties, Miguel Gomes, the partnership has everything to go well. “The hotel unit is being built in two phases. The first, already concluded, represents an investment of 56 million euros. In the second building, to start when the licensing is processed and in which we will add 78 rooms, another 31.5 million euros will be invested. In total, there will be 87.5 million. This was only possible due to the initiative of 250 investors with golden visas, who acquired this land, through Mercan, designed and licensed the constructions, and, together with the Porto Chamber, will build and deliver the park for use by the citizens”, explained the person in charge.

About the Hotel's operations: "On the first phase, Mercan Properties will create 199 direct jobs and, on the second phase, another 39 direct jobs." Miguel Gomes, C&d Manager of Mercan Properties.

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