Ex Slaughterhouse, the works of the low cost district of Milan are underway

In July 2021 we told you about the new district under construction in Milan in the former slaughterhouse area. Today, over a year later, the designers’ dream is finally about to come true.

In fact, according to what Milano Today reports, the redevelopment works of the area should begin shortly, an area located between viale Molise and via Lombroso on the east side of the city. In fact, the Municipality should grant authorization for the reclamation by the end of the month, and in the meantime the contract could be signed with Redo, the winner of the Reinventing Cities tender with the “Aria” project, which therefore won the contract for the redevelopment of the area.

Redo is a company owned by Fondazione Cariplo, Cassa Depositi e Prestiti, InvestiRe sgr spa and Intesa Sanpaolo, and therefore certainly not the latest arrival. So much so that the redevelopment project of the former slaughterhouse does not really have figures within everyone’s reach: in fact, we are talking about a good 500 million euros.

According to councilor Giancarlo Tancredi, who spoke during the commission on Wednesday 19 October, the project is “under approval, a phase that will last a few months”. In the meantime, however, the former slaughterhouse is starting to get serious, with a series of cultural events organized in recent times. In fact, photographic exhibitions and DJ sets have been set up since September, and this is just the beginning: at the end of the construction site, in fact, 1200 apartments will be built, in a “social housing” project that will allow owners and tenants to live Milan at controlled prices.

In particular, 60% of the apartments will be rented at popular prices, while 40% will be sold. But what numbers are we talking about exactly? Basically they will be completely out of business – downwards fortunately – compared to the real estate market in Milan. In particular, it will be possible to buy an apartment for 2,250 euros per square metre, while the rent will cost 90 euros per square metre. Taking a practical example, a two-room apartment of 60 square meters will have a rental cost of around 450 euros per month, while its purchase can be concluded for 135 thousand euros.

But the revolution of the former slaughterhouse doesn’t end there: the prestigious IED, the European Institute of Design, will open a campus in the neighbourhood, which will cover an area of 30,000 square meters and will host 4,500 students; furthermore, 13,000 square meters of the entire area will be occupied by student residences capable of increasing the supply of bed places for university students by over 400 units. Finally, the neighborhood will be completed with an elementary school, 40,000 square meters dedicated to shops, offices and hospitality businesses, and 2,000 square meters for neighborhood services.

However, as has often happened with other renovations of entire areas of Milan, the risk is always that of gentrification: if not properly managed, the redevelopment could make the former slaughterhouse an exclusive area, and at the same time prohibitive for residents to via rising prices.

However, all this will certainly not be instantaneous: in fact, we are talking about times that could reach up to 2030, with a first phase of the transformation of the area completed by the 2026 Winter Olympics.

The words of politics

According to Fratelli d’Italia, the party that governs our country after the victory in the last elections, the operation is wrong from an economic point of view. Councilor Enrico Marcora affirmed without half measures that “such low prices lead to substantial losses, therefore Redo will have to involve the Municipality to make ends meet”. Redo’s representatives responded directly to the adviser’s harsh words, who stated that “an interview is already underway with the Municipality” This was echoed by PD councilor Bruno Ceccarelli, who stated that “revising prices could be even correct, but it is not at all to undermine social projects of this kind”.

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