Foreign investment in a hotel in Lapa includes cession of land to build an urban park

The Canadian Group Mecan commenced construction works in the historic neighbourhood of Lapa as of January; still, the 56 million euros investment was worthy of a symbolic “setting of the first stone” ceremony this week. The project includes the cession of land to build an urban park and public infrastructures. The event was attended by the vice-Mayor of Porto City Hall, Filipe Araújo, who stated that “it is important to highlight the importance of such an investment, a real estate investment, which boosts the economy and is held in our city”.

“The dynamics of the private sector is fundamental so that we can have an economic recovery that is positive to the city and to the people of Porto”, affirmed Filipe Araújo, during the ceremony, which was also attended by the councillor for Urbanism, Pedro Baganha, on 19 May.

In turn, the vice-president of the Mercan Group, Jordi Vilanova, stated that the projects by the group combine foreign investment and job creation, while boosting tourism and local and national development”, also estimating that the project will result in the creation of 140 new jobs.

The Renaissance Park Hotel will take on an area of circa 14 thousand square metres and will provide 163 rooms, an outdoor panoramic swimming pool on the top floor, with a bar and an esplanade, a restaurant with a capacity for 250 seats and a congress centre with availability for up to 600 users. The construction works should be completed next year, in the summer.

The purchase of this plot of land of circa 23 thousand square metres, by 160 international investors, nearby the church of Lapa, included the cession of 17.700 square metres to the municipality, a spot where an urban park is to be built. This green area is included in a municipal project, with also features new urban fronts, mainly residential areas, the redesign to access the metro station of Lapa and the creation of new access roads, as well.

According to Filipe Araújo, “this is a priceless contribution to the city’s resilience and its adaptation to climate change, as it increases its green areas”. The fact that this new building has a LEED Gold certification, meaning excellence in terms of energetic and environmental performance, is also an added value and “meets our goals regarding municipal buildings that we are rehabilitating”, recalled Filipe Araújo.

The new urban park of Lapa is part of the municipal strategy to increase the green areas, integrated in the future Land Use Planning, which will be debated during the Executive meeting on 24 May.