Valencia is preparing to host a new large-scale coliving construction project. The new property is already attracting the attention of market investors. Koliving in this region has great potential, the combination of communal housing and private ownership is trying to bring together the best of both worlds and finds fertile ground in the Valencian community.
Just in order to "ride" the wave of popularity, the Basque developer Kategora, specializing in residential real estate, enters the Valencia market with its first regional project. It will be implemented in one of the fastest growing areas — El Cabanyal. This will be a residential complex with 316 rooms-apartments, Ura Valencia SL is responsible for its promotion. The planned investment volume will be 36 million euros.
The Valencia Development Department, headed by Lucía Bimud, has already given the go-ahead for the construction of this complex. It is located between Arquitecto Alfaro and Ernesta Anastasia streets. The project itself was announced last year, but it took months to prepare and analyze for compliance with current urban planning standards.
Although the project has received permission from the Valencia City Council, as an object of the "apart-hotel" type, it is actually a coliving. Here the problem of how the legislation does not have time to adapt to all new trends in the market, even if they have existed for several years, is clearly visible. Regulation of colivings in the "Master Plan of Urban Development" (PGOU) There is no Valencia yet, so the project is formally designed as a hotel. Developers are increasingly calling on the authorities to review the current regulations.
According to the available information about the project, the total area of the complex will be 4,800 square meters, on the ground floor there will be a swimming pool, a cafe-restaurant, a gym, a joint work area, a laundry room. The building also has 163 parking spaces, which will be distributed between two basement areas. There is also a bicycle parking area. In the aspect of leisure, it can be noted the presence of a game and a certain "audiovisual" zone.
The building will be divided into 2 blocks: one of them will consist of five floors, and the other of three. The entrance to the first one will be from Arquitecto Alfaro Street, and to the second (yes, you guessed it) from Ernesta Anastasio Street. From both blocks it will be possible to exit to the garden located in the center between the blocks. The latter will be developed by the developer Vizcaya. The full opening of the residential complex is planned for 2025.