Funding and Partnerships: A New Chapter for the Residential Complex
A major residential development is launching in Madrid on the site of the former La Ermita shopping center. The project’s manager, Grupo Saf Son, has signed an additional financing agreement with Maslow Capital. The new credit line of 13 million euros will be used to buy out shares from owners not interested in converting the site into housing. This is the second installment after a previous 30 million euros, which covered initial development costs. Banco Sabadell acted as advisor and participated in structuring the deal.
Urban Transformation: Housing, Infrastructure, and Public Spaces
The project includes a complete redevelopment of the area where the shopping center once stood. Plans call for 530 apartments, 159 of which will be designated as social housing. About 70% of the site—over 44,000 square meters—will be transferred to the municipality. The area will feature new public spaces, green zones, and infrastructure, helping integrate the neighborhood into the urban environment and improve the quality of life for local residents.
Eco-Friendly Solutions and Architectural Highlights
The project includes the creation of nearly 11,000 square meters of recreational areas and an additional 5,600 square meters of green spaces. The centerpiece will be a 60-meter-wide green corridor connecting the parks La Ermita del Santo and Caramuel with the Madrid Río embankment. This solution aims to improve pedestrian accessibility and seamlessly integrate the new facilities into the urban landscape. Almost 19,000 square meters will be allocated for public use, featuring sports facilities such as an indoor swimming pool and fitness centers, ensuring the continuation of the district’s existing infrastructure.
Economic development and modern construction standards
The commercial section of the complex will be transformed into a vibrant urban center with easily accessible shops, aimed at boosting economic activity in the area. The architectural design orients buildings along a north-south axis to maximize natural light. The project includes green roofs and bioclimatic architectural principles to minimize environmental impact and improve the energy efficiency of residential buildings.
Impact on the housing market and the social sphere
According to the project participants, implementing this plan will help partially address the shortage of affordable housing in Madrid, especially in the social housing sector. Maslow Capital, with significant experience in real estate financing, highlights the strategic importance of such initiatives for the city. The completion of construction is expected to give new impetus to the development of the area and improve living conditions for thousands of residents.
