Italian asset manager Coima has revealed plans to redevelop an existing 1950s building in Milan into an innovative, technologically sophisticated and highly sustainable new office project.
Designed by Milan-based architecture studio Piuarch, the project in Piazzale Zavattari 12, between San Siro and City Life, will see the building, which was part of the Isotta Fraschini car factory, redeveloped into a forward-thinking office building, with circa 14,000 m2 across 12 floors, as well as 1,400 m2 of panoramic terraces and multifunctional and retail spaces. The development value is said to be around €25 mln.
The area around Piazzale Zavattari is undergoing significant development and it is being transformed into one of Milan’s key new commercial neighbourhoods. The office development, called Ivory, is being designed with a strong focus on wellbeing and sustainability, targeting LEED Gold, WELL Gold, and WiredScore Gold certifications. The project will also incorporate locally sourced and environmentally safe Cradle to Cradle certified materials and products based on circular economy strategies.
The project is being designed to improve the energy efficiency of the existing building. On completion, over 65% of its energy needs will be provided through on-site renewable sources, including a geothermal system for air conditioning and a photovoltaic system on the roof.
Matteo Ravà, head of Fund and Asset Management, Coima, said: 'The redevelopment of Piazzale Zavattari 12 is aligned with the value-add strategy of Coima’s Odyssey Fund, which aims to revive and reuse buildings to create new customer-focused assets with modern amenities and the highest standards of sustainability.'
This project confirms Coima's strategy aimed at building reuse, he added. 'This strategy in the last 12 months has led to the completion of projects comprising more than 50,000 m2 with an investment value of over €400 mln. We are committed to developing further sustainable reuse projects comprising 140,000 m2 with an investment value of around €1 bn.'