Nazaret is the new hot property market in Valencia city. Not opnly it has a good location but new projects from the government has put the área in the map of investment opportunities in Spain.
The City Council of Valencia and the Port Authorities of Valencia (PAV) have come to an agreement, which states that the port precinct will cede a plot of land located in the neighbourhood of Nazaret for the construction of a sports area and a park of 21.75 acres in the mouth of the River Turia, which “will be similar to the Parque de Cabecera (Headwaters Park).”
However, the document must pass through the Administration Counsel of the PAV, through the Town Council’s committee of Urbanism, and then taken to the municipal plenary, meaning that there are still no dates of execution nor a budgeted investment.
It has been pointed out so by the city mayor, Joan Ribó, and the president of the PAV, Aurelio Martínez, who have shown their satisfaction for the reached pact and have commented that through this decision the local neighbours will be able to enjoy of a green space.
“I wish to express the satisfaction on behalf of the City Council, because in certain manner we compensate Nazaret’s neighbours and take a fundamental step to closing the river park, which shall now have an appropriate end,” stated the city mayor.
Precisely, the agreement considers the creation of a park at the mouth of the River Turia with the intention of providing a “formal and functional solution” and an equivalent to the Parque de Cabecera. In addition, an area for the use by third parties will be planned with an extension of around 19,500 square metres and a development potential of 25,000 square metres.
In this area, the PAV promises to analyse the feasibility of having facilities for vocacional training on logistic matters, which would be integrated in the urban layout of Nazaret and it would mean “an important component for the social and economical activation of the neighbourhood,” they emphasised.
A sports area along with an open area will be created as well, both susceptible of being managed by administrative concession, of a total extension of around 87,900 squared metres, at the same time a green corridor is planned in the area, which will include a cyclists and pedestrian’s ring that will connect the Parque de Desembocadura (River Mouth Park) with the current corridor, which, passing through the Zone of Logistic Activities (ZLA), will make the connection with the areas of La Punta and Pinedo possible.
Likewise, the current roundabout will be moved 105 linear metres southeastwards in order to, keeping the functionality of the roads and railways layout, facilitate “a better continuity of the Turia Gardens up to the Parque de Desembocadura”
Besides that, the agreement considers the 20-linear-metres-extension of the old river bed of the Turia, in the stretch between the Pont de les Drassanes and the beginning of the existing works of canalisation, by the left bank. Specifically, the project of gardening this strip will be carried out by the City Council of Valencia, whereas the PAV will be in charge of the execution, which also will undertake its closing by the Northeast side.
Valencia’s real estate market is recovering quite fast, especially if we pay attention to certain areas. One of them particularly, is the traditional neighbourhood of Nazaret, which in the more recent years has become a place of interest for investors, due to its prices, its location and, above all, due to the opportunity it presents. With large and important projects ahead, a privileged location (only 5 minutes from the famous City of Arts and Sciences and 10 minutes away from Valencia’s Mediterranean beaches) and an increasing interest by foreign investors, Nazaret is a goldmine still to be exploited.
The Spanish Brick operates in Nazaret and in the whole of the City of Valencia. We work with foreign investors who seek opportunities like these.
If you wish to have more information about investments in Valencia, do not hesitate to contact us and ask any question you have, we will be delighted to help you.