The B, the essential initial when naming the avenue that crosses 10 porteño neighborhoods, means Baptist, although we never mention this name when referring to Juan B. Justo. If even Waze itself omits it when indicating a direction to take or that has it as the protagonist! Beyond the denomination, the truth is that the artery is no stranger to the changes that the entire area is going through, accompanying the viaduct works. Furthermore, always in terms of bricks, the legislation also brought movements.
“It had a significant change after the approval of the new Urban Code in 2018. Closer to Corrientes Avenue, the maximum height of the zoning was increased, which went from having seven floors with setbacks to a height of 31.2 meters (10 floors above the official line plus withdrawals)”, analyzes Matías Dell, Production Leader of the Korn Group. “Arriving in Córdoba, before, the zoning was low residential, with a maximum height of 10.5 meters. Today it went on to have a maximum height of 17.2 meters plus the withdrawals. This change occurred as a result of the work on the San Martín train viaduct, which cleared vehicular traffic at this important intersection in the neighborhood,” he continues.
According to broker, from Córdoba Avenue to Santa Fe, according to the old code, the zoning was average, with a maximum height of 15.5 meters in buildings on dividing walls. “Now, with the new regulations, the zoning became a medium corridor, with a maximum height of 31.2 meters,” he points out. What happens then with the lots that face the avenue? “They increased their value by more than 30% thanks to the increase in their construction capacity and the enhancement of the corridor“, answer back.
Consulted by the numbers, in Grupo Korn they specify: “In this axis, the average incidence -the value of the lot in relation to what can be built- it used to be around US$500 per m², while today we can reach US$700 arriving in Córdoba. In the section between Córdoba and Santa Fe avenues, with lots that have doubled their construction capacity, variations in the average incidence are also observed: previously it was around US$700 per m², while today one can speculate with projections of up to 1000/m²″.
In this context, it is not surprising that in recent years the real estate firm has registered an increase in appraisals near the area, thanks to the new changes, and also due to specific orders from developers who are betting on the growth of this sector of the Town. “Currently, we have a piece of land on Juan B. Justo avenue, with access to Paraguay street with an incidence of around US$700 per m²″, exemplifies Dell.
In relation to projects already under way, JBJ 829 stands out, a 12-story development with a delivery date of March 2024targets young people attracted to the area both by the spirit and imprint of the neighborhood and its connectivity, and also to those who think of apartments for temporary rent. This is revealed by Fabián Bergier, Works Manager of Grupo Tizado, marketer of the project. “These are small units, with very good amenities”, describes the manager, endorsing the concept.
Space of co-workingheated pool, courtesy bike racks and yoga room are some of the benefits and comforts of the initiative, whose units start at 28 m², at a value of US$66,449. “During the well and in the pandemic, it was sold at US$1,600 per m2,” points out Bergier. “And as for the area, it’s definitely not peripheral and it’s not premium. It is an area with potential, which to tell the truth began to change with the Quartier and Mirabilia towers”, he points out.
At the end of 2023, to those mentioned will be added Qiub: 26 floors with residences with up to four rooms and 16,000 m² of offices, plus a ground floor where a commercial and gastronomic proposal will be developed, on the surface resulting from the union of five pieces of land. According to Ariel Wasserman, partner of BW Group, developer of the initiative, the project proposes the transfer of a public space at the intersection of Juan B. Justo and Honduras, and the creation of an interior street that links that dry square with the street Humboldt.
In this interior road mentioned by the developer, there will be both the commercial premises that will serve as “neighborhood equipment” as well as the accesses to the residences, offices and five underground parking lots. “Thus, the tower appears as a point of reference and a meeting space, located at the entrance to Palermo Hollywood, with its range of restaurants and all the activity of the audiovisual district”, details Wasserman.
While some of the office floors have private terraces that are generated by the rotation and removal of the general volume of the project, the housing block has amenities premiumand, as they point out in BW, even the smallest departments have a space designed especially for the home office. Units with up to four main rooms are sold at a value of $460,000/m² plus adjustment through the Index of the Argentine Chamber of Construction.
“For residences, we think of a young audience and, as far as offices are concerned, according to our own surveys, there are many companies interested in leaving the old corridors like Catalinas to move north,” shares Wasserman, highlighting the proximity to trains, subways and Metrobús. The investment that the initiative will have demanded, once finished? Around US$50 million between works and landestimates the interviewee.
“Indeed, when we acquired the land and thought about the project, we did not know that the area was going to become what it will surely become, when the plazas of the viaduct are developed and when the bowling alleys that are still there finish moving, as happened with the warehouses,” confesses Wasserman, also explaining that the original project, which included movie theaters, changed after the pandemic. According to what he reports, 15% of the building has already been sold.
From where it starts at the intersection of Santa Fe and Intendente Bullrich avenues to General Paz, between the neighborhoods of Versalles and Liniers, the extension of Juan B. Justo exceeds 12 kilometers and in each of the 10 neighborhoods it crosses it has its own imprint. In Palermo, he began to transform, leaving his red zone past behind and slowly becoming a green rider. Everything seems to indicate that, in time, the physiognomy of the avenue that accompanies the Maldonado stream will change in several parts of its route.