CIUDAD
COPACABANA
LAND
Ciudad Copacabana offers suburban tranquility near Copacabana’s urban area, just 25 minutes from Medellín’s city center.
Ciudad Copacabana is a large-scale residential and commercial development, designed to meet the growing demand for quality housing in the Aburrá Valley.
Medellín has experienced sustained population growth, with an annual rate of 1.3% and a projection to reach 3 million inhabitants by 2030. This growth has increased the demand for housing, reflecting a deficit of 15%, equivalent to 150,000 households.
The scarcity of developable land, with only 20% of the area available for urban development, has driven a 30% increase in land prices over the past five years. This limitation has led to a trend towards vertical development, with more than 60% of new projects being buildings of over 10 floors and an average height increase of 15% in the last decade.
Medellín has experienced sustained population growth in recent decades. This growth is due to several factors, including internal migration from other parts of the country in search of better economic opportunities and quality of life. Additionally, the birth rate in the city continues to contribute to demographic expansion.
Housing Demand
The increase in population creates a constant demand for new housing. As more people move to Medellín, the need for different types of housing increases. This includes everything from affordable housing to high-end developments to accommodate a variety of segments of the population. Demand for housing is particularly strong in urban and well-connected areas like Copacabana.
Shortage of Developable Land
Medellín faces a shortage of developable land due to its geography and existing urban expansion. The city is located in a valley surrounded by mountains, which limits the amount of land available for new development. This limitation has led to an increase in land prices and greater competition for available land.
Vertical Development
To mitigate land scarcity, Medellín has seen a growing trend toward vertical development. Vertical developments allow for maximizing the use of the limited space available by constructing high-rise buildings that can accommodate more people in a smaller area. This trend not only optimizes land use but also responds to the need to create denser and more connected communities. Vertical developments are often close to key infrastructure such as public transport, and educational and commercial services, improving the quality of life for residents.
Demand for Social Interest Housing (VIS)
The demand for Social Interest Housing (VIS) is significant, with 35% of the population qualifying for this type of housing and 40% of new constructions in 2022 dedicated to VIS. Government subsidies, totaling over 2 trillion pesos in the past decade, have facilitated home acquisition for 45% of the beneficiary families, contributing to a 10% reduction in the housing deficit.
Accessibility and Affordability: The demand for Social Interest Housing (VIS) in Medellín is high due to the need to provide affordable housing options to low and middle-income families. The VIS is designed to be affordable, help reduce the housing deficit, and provide a safe and decent place to live for those who cannot afford private market housing.
Government policies: The Colombian government, both at the national and local levels, has implemented policies and subsidies to encourage the construction of social housing. These policies include tax incentives and direct subsidies to VIS buyers, which boost both supply and demand for this type of housing.
The project in Medellín includes 4 stages with 2,284 apartments in 11 towers, highlighting 1,576 VIS units and 708 non-VIS units, in addition to commercial premises. This diversified approach and its significant scale address market needs and leverage opportunities from population growth, land scarcity, and VIS demand.
The project spans a gross area of 82,456 m², with a net developable area of 61,142.50 m², maximizing the potential of this strategically located land.
Summary
of the 4 Stages
Sales Projections by Phase
This project is designed to be developed in 4 carefully planned stages, each designed to complement and enrich the urban environment.
52″ AREA METERS PER APARTMENT.
M2 SALE VALUE: COP $4,513,722 / USD 1.129.55
Total Project Sales Value (4 Phases):
COP $600,000,038,016 /
USD 148’396.886.10
In total, Ciudad Copacabana will offer 2,284 housing units distributed across 11 modern towers, creating a new landmark in the region’s urban development.
“This is not just an investment in Copacabana's future, but also a significant contribution to the metropolitan development of the Aburrá Valley.”
This project not only seeks to provide quality housing but also to create a vibrant and self-sufficient community. With a balanced mix of VIS and non-VIS housing, commercial spaces, and extensive green areas, Ciudad Copacabana is designed to foster social integration and sustainable development.
COMPETITIVE ADVANTAGES
P.U.G APPROVED:
The project has the approval of the General Urban Planning Project (P.U.G) by the Administrative Planning Department of the Municipality of Copacabana. – Resolution No. 1232 of July 11, 2022. 2. Location and details of the land: – Located in the urban area of Copacabana – Consisting of 4 properties with real estate license plates: 012-54988, 012 -54987, 012-76655, and 012-6010. – Total gross area: 82,456.00 m2 – Net developable area: 61,142.50 m2 3. Uses and regulations: – Construction Index (I.C): 2.2 – Occupancy Index (I.O): 50% (permitted), 20% (project) – Treatment Urban Planning: La Misericordia Development – Uses: Main: Residential; Complementary: Multiple; Restricted: Industry 4. Development by stages: – The project will be developed in 4 stages, each with its own planning license. – Flexibility to adapt development to demand and market conditions. 5. Social Interest Housing (VIS): – Stages 1, 2 and part of 3 will be dedicated to VIS, complying with the regulations (50% of the net area). – Total VIS units: 1,576 apartments. 6. Non-VIS housing and commercial component: – Stage 4: 708 Non-VIS apartments with an area of 73.65 m2 each. – Inclusion of commercial premises in stage 4, adding value and services to the project. 7. Public space and equipment: – Transfer of 24,295.00 m2 for public space, including a linear park in the protection zone. – Obligation to build 2,325.73 m2 of community facilities. 8. Road infrastructure: – Development of 6,206.00 m2 of roads to improve the connectivity of the sector. – Expansion of the road section of 46th Street and internal road. 9. Sustainability and environment: – Compliance with current environmental standards. – Implementation of low water consumption equipment and systems. 10. Benefits for the community: – Significant contribution to solving the housing deficit in Copacabana. – Employment generation during construction and post-construction. – Sustainable urban development and planned densification. – Improvement of infrastructure and services in the area. 11. Legal and technical security: – P.U.G. approved, which provides regulatory stability and expedites future procedures. – Mandatory independent technical supervision and compliance with earthquake-resistant standards.
This ensures that any future changes in regulations or restrictions from the local government will not affect the project, providing a stable regulatory environment.
- Streamlined Procedures: With P.U.G. approval, the project can proceed with reduced bureaucratic delays, expediting the development process.
STRATEGIC LOCATION
- Prime Urban Location: Situated in the urban area of Copacabana the project benefits from being in a well-connected and desirable area.
- Ample Land for Development: The project spans 82,456.00 m² of gross area and has 61,142.50 m² of net developable area, providing substantial space for development.
PHASED DEVELOPMENT
- Financial Flexibility: The project is divided into 4 phases, allowing for staged investments and sales. This phased approach reduces financial risk and enables the project to adapt to market conditions and demand.
- Market Adaptability: Each phase can be adjusted based on real-time market feedback, ensuring that the development meets current housing needs and preferences.
DIVERSIFIED OFFERINGS
- Mixed Housing Types: The project includes both Social Housing (VIS) and Non-Social Housing (No VIS) units. This diversification caters to a broad market segment, ensuring higher absorption rates.
- Commercial Spaces: The inclusion of commercial spaces in Phase 4 adds value to the project by providing essential services and amenities to residents.
SUSTAINABILITY AND COMPLIANCE
- Environmental Responsibility: The project complies with current environmental regulations and incorporates sustainable practices, such as water-efficient systems, ensuring minimal environmental impact.
- Public Spaces and Community Facilities: Dedication of 24,295.00 m² for public spaces and the construction of 2,325.73 m² of community facilities promote a balanced and sustainable urban environment.
ENHANCED INFRASTRUCTURE
- Road Improvements: Development of 6,206.00 m² of roads and the expansion of Calle 46 and internal roads will enhance connectivity and accessibility, benefiting both residents and the broader community.
- Public and Green Spaces: The project includes a linear park and other green spaces, improving the quality of life for residents and promoting urban greenery.
INVESTMENT ATTRACTIVENESS
- High Demand Location: Medellín’s growing population and housing demand make this project a lucrative investment opportunity.
- Stable Return on Investment: The strategic location, phased development approach, and diversified offerings ensure a steady and potentially high return on investment for stakeholders.
WHY
COPACABANA?
01. A Symphony of Sustainability and Urban Harmony
02. Envisioning a Legacy of Transformation: Beyond Buildings, A Thriving Community
