Madrid's La Ermita mall demolished for €77 million housing project
The 44,349-square-metre site in the Latina district will be transformed into 529 homes and two residential towers.
The La Ermita shopping centre in Madrid's Latina district has been demolished following approximately 18 months of work, according to the Times of India. The site is set to undergo a €77 million redevelopment to make way for 529 homes, two residential towers, and new public spaces near Madrid Río.
The former complex in the Los Cármenes neighbourhood was a leisure destination that featured a go-kart circuit associated with rally driver Carlos Sainz and the Aqualung concert venue. The venue hosted international artists such as David Bowie and Iggy Pop before closing on March 4, 2006.
The new development will include two residential towers of 17 and 21 floors near Calle Sepúlveda. The project comprises 370 market-rate properties and 159 protected homes, alongside a 1,500-square-metre neighbourhood market, shops, a gym, and an indoor swimming pool.
The plan features a 60-metre-wide green corridor to connect the parks of La Ermita del Santo and Caramuel with Madrid Río. Madrid City Council has also announced plans to plant 297 new trees as part of the 11,000 square metres of landscaped public spaces.
The redevelopment has faced opposition from neighbourhood groups concerned about traffic, public services, and gentrification. The project is being led by the Venezuelan Finol family, which owns 80 per cent of the land, and the Saf Son group, which holds the remaining 20 per cent.