Last week, the city decided to move forwards with its plan to have a pre-sale of the apartments in the Villa Soldati Olympic Village – currently under construction – which will house the contenders of the Youth Olympic Games that will take place in Buenos Aires during October of 2018.
The plan is to sell all 1,100 apartments before the games begin so, once the games are over and participants go back to their respective countries, the move-in process of their rightful owners can be expedited.
The village is located near the Parque de la Ciudad, in Villa Soldati, and surrounded by the avenues Escalada, Roca, Fernández de la Cruz and Pres. Hector José Cámpora. The 1,100 apartments will be split between 31 buildings, each with between six and seven floors, and occupying an area of about 134,000 square meters. Reportedly, nine of the buildings-accounting for 400 apartments-have already been completed.
Even though the games will end in more than a year from now, residents will not move in to their new homes until January of 2019 at the earliest. There will need to be some modifications made to the apartments to make them ready for families to live there full time, since they will originally be used by athletes who will only need them for a few weeks.
Priority for purchasing the apartments – which are said to have lower market values than other similar units in the city – will be given to the nearby neighborhoods of Villa Soldati, Villa Lugano, and Villa Riachuelo. They will be bought with soft loans from Banco Ciudad and the Instituto de Vivienda.
One of the motivations behind this creation of affordable housing is an effort to fight the city’s housing deficit, which according to La Nacion, currently stands at 600,000.
Another goal of the project is to avoid the deterioration of facilities built specifically for a major international sporting competition after the close of the event (huge shout out to Brazil). By completing the sale of the apartments before the games start, the city is tackling the problem of what to do with the 31 unused buildings before it even arises.
The project, funded by the Ministry of Urban Development and Transportation, costs roughly three billion pesos (giver or take some US $175 million).
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