A small sector of the City, among Santa Fe Ave., Juan B. Justo Ave., Cnel. Niceto Vega and Dorrego Ave., is the center of a controversy that people will surely forget with the time.

In very little time, with works that began almost one year ago, the physiognomy of the area among Santa Fe Ave., Juan B. Justo Ave., Cnel. Niceto Vega and Dorrego Ave., will radically change.

New projects have already begun in this area –known as “Palermo Viejo” (the old Palermo)-, until recently only reserved for the buildings on Libertador Ave. or nearer the river.

It is certain that this traditional place, formerly denominated Old Palermo and that has recently become the center of the fashion, the culture, and the night life of young people of all the nationalities, is changing a lot.

In Palermo Hollywood –it is lately called like this because of the installation of TV studios and producers , together with modern author’s restó -, towers of 20, 30, and up to 45 floors, multiple complexes of houses with amenities, a cultural and commercial center, a private clinic with heliport, and several shops are already in progress.

Many of those who have grown, studied or lived in this neighbourhood resist to the new denomination that –they say- it is not only a semantics question. Others didn't give it a lot of importance and they predicted a short life. Nevertheless, beyond the controversies, there are some facts that we cannot ignore: Two of the most important towers that will be built, with a budget of about 4 million dollars, already have name: “Hollywood 1 and 2.” Each one will have 20 floors and a very cool design with apartments in duplex, crowned in the superior floors with the “Hollywood Club” that will have a very complete social and sport infrastructure.

In Humboldt, between Nicaragua and Soler St., the towers Mirabillia are being built, of 45 floors each one, in a lot of 9.000 m2, and with an investment of around 35 million dollars.

On Juan B. Justo St., almost Paraguay St., a new clinic of the group Swiss Medical will be built and it will have 14 floors and a heliport.

Crossing Juan B. Justo Ave., between Santa Fe and Paraguay St., in a space of nearly 3 hectares, the project “Palermo Center” will be developed, an initiative of the Government of the Autonomous City of Buenos Aires with private investment. The complex will have a cultural center, shops and design shops, cinemas, theaters, green areas to walk outdoors. An interesting fact is that the project is conceived to serve as a connector between the two areas of Palermo up to now divided inexorably by Juan B. Justo Ave., by means of a pedestrian passage near Charcas St.

To all these projects, it is necessary to add those of smaller significance but that, because of their quantity and variety, give an impulse to the whole area and this is already being reflected in the values of the neighbouring properties.

The corridor Juan B. Justo, formerly forgotten, will be without doubts one of the main centers that will increase the prices, equalling those of New Palermo in little time. - The values that are managed at the moment in new apartments, go from u$s 1.300/m2 regarding houses, being able to reach u$s 2.000.

Beyond the semantics questions, it is certain that the change arrived to stay, and in a little more time, the physiognomy of the neighbourhood –Old Palermo or Palermo Hollywood - will have changed completely.


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