Multipurpose complexes bring together shops, offices and housing – 02/24/2023 – Market

With more than 320,000 m² of private area, the Paseo Alto das Nações complex aims to “solve various everyday needs in the same space for 14,000 people every day” in the Berrini/Chucri Zaidan axis, west of São Paulo .

This is the plan of Carrefour Property, the real estate arm of the Carrefour Group, for the development —with an area larger than two Maracanã stadiums— located in one of the main business hubs in the city of São Paulo. The development follows the global trend of multipurpose complexes, which is consolidated in the country.

This model emerged in the United States by bringing together corporate, commercial and residential areas in one place in cities with a business vocation.

Developed in partnership with the developer WTorre, Paseo is being built on the land of the first Carrefour hypermarket in Brazil, opened in 1975, on Avenida Nações Unidas, west of São Paulo.

The first of the complex’s three phases has just been delivered: a new establishment measuring 15,000 m² and 700 parking spaces, which will function as a concept store, and a mixed tower measuring 20,000 m².

In the next phase, expected to be delivered later this year, there will be a 32,000 m² park open to the public and the interconnection of the complex with the Granja Julieta train station.

The entire project, which includes a 216-metre-high office building and a residential tower with 216 apartments, is expected to be completed by 2026.

The focus is on families with an average income of R$11,500 per month and companies. The complex’s PSV (Potential Sales Value) is estimated at R$ 3 billion, 60% of which comes from the commercial tower.

According to Liliane Dutra, CEO of Carrefour Property, half was sold to real estate funds. The value of a square meter in the region is around R$ 22,000.

It is the group’s first initiative in Brazil to use Carrefour Property’s real estate expertise. Other multipurpose complex projects are being studied across the country, wherever there is a Carrefour hypermarket with construction potential. “The idea is always to expand from a store, such as a supermarket or hypermarket”, says Liliane.

In Brazil since 2012, Carrefour Property has managed 518 of its own properties and currently manages more than 370 commercial galleries in 20 states and 200 municipalities.

Half an hour away from Paseo Alto das Nações, another luxury multipurpose complex references the iconic Conjunto Nacional, one of the first buildings to unite corporate, commercial and residential areas.

Built on a 7,500 m² plot of land, Passeio Paulista, on Rua da Consolação (downtown capital), will be inaugurated this first quarter and will have more than 46,000 m² of leasable area distributed over 21 floors of offices, with slabs reaching 3,800 m². m².

The project, a partnership between Fibra Experts and Brookfield Properties, includes a commercial center with shops, restaurants and cultural activities, as well as residential lofts. On the ground floor, a square with natural light and a boulevard with a living space will connect to Rua Bela Cintra.

The developer does not reveal the investment value or other commercial figures. In the region, the square meter is around R$ 20 thousand, according to calculations by Loft.

The CEO of Fibra Experts, Fernando Kenworthy, says that the location was defined by the “mantra of the real estate market”: location.

“This region has unique differentials, such as museums, parks, shops and restaurants for different tickets, in addition to privileged mobility, with two subway lines, bike lanes and exclusive bus corridors”, he says. “And all these attractions are within walking distance.”

Kenworthy says the project is intended to be an extension of the sidewalk. For him, the attractions of Avenida Paulista are assets for companies to return to face-to-face work after the pandemic.

According to Fibra Experts, at a time when offices were shrinking and losing space for the home office, the region proved to be resilient and maintained a more consistent occupancy rate in relation to other addresses.

Already during the resumption, with the gradual return of face-to-face work, Paulista has shown above-average numbers.

“The Covid-19 pandemic has changed the way people want to relate to the office. In a movement that has been known as ‘fly-to-quality’, companies have sought more open and collaborative spaces, which demand larger slabs and more efficient,” says Kenworthy.

“This modern structure, combined with the diversity of Avenida Paulista, makes it a unique address in São Paulo, and now much desired by large companies.”

‘The city reflects its society’

The integration between people and the surrounding urbanism, announced by both projects, does not necessarily mean inclusion, say urban planners.

The president of the National Federation of Architects and Urban Planners, Andréa dos Santos, says that multipurpose projects pose the challenge of not segmenting society in relation to the real users of the developments.

“Cities reflect society, and, in this sense, we always have to think about which city we are talking about, and for which people”, he says.

“It’s not a question of attracting properties to middle and lower class families, but rather the impact of these developments on land prices and the consequences of this appreciation in the poorest populations”, explains Andréa.

Professor Viviane Rubio, from the Faculty of Architecture and Urbanism at Universidade Presbiteriana Mackenzie, says that the city’s current master plan encourages mixed-use developments to guide occupation more efficiently, with measures to bring low-income people closer to public transport. For her, however, the goal has been distorted.

“They removed the small businesses to put franchise stores for those with greater purchasing power. People who sold their homes in the region, for example, cannot return because the square meter is more expensive. So, who is the regulation favoring?”

X-ray of luxury complexes

HIGH OF NATIONS

• Multipurpose complex with more than 320,000 m² of private area, located on the Berrini/Chucri Zaidan axis
• PSV estimated at BRL 3 billion
• Commercial tower 216 meters high
• 32 thousand m² of green area
• Shopping center of more than 5,000 m², with more than 40 stores, one of which is the Carrefour hypermarket concept store

New Carrefour hypermarket

• 15 thousand m² of area, with 7.5 m² of sales area and covered parking with 700 spaces for vehicles
• Over 44,000 products, including exotic meats such as alligator
• Hamburgueria, pizzeria, cafeteria, snack time, sushi and pastry shop
• Carrefour Drugstore

Project phases

1st: Carrefour hypermarket, Paseo Alto das Nações Shopping Center and mixed tower

2nd: park for residents and guests of the complex and the interconnection of the complex with the Granja Julieta train station

3rd: the corporate and residential towers will be inaugurated by 2026

PAULISTA TOUR

• Built on a plot of 7,500 m² on Rua da Consolação
• Corporate tower with Triple A standard, certification given to corporate projects that reach maximum standards of quality, construction and technology
• Floors from 1,876 m² and total leasable area of ​​46,491 m², distributed over 21 floors
• Ground floor shopping center with tree-lined area and link to Granja Julieta train station
• residential lofts