Sesto San Giovanni, in the former Falck areas start of 'Unione Zero' private construction sites

Here come the cranes. Excavation began in May. Now, the official laying of the foundation stone for Unione Zero, the first building site with private capital on a 250,000 square metre perimeter on the former Falck steelworks site in Sesto San Giovanni. The public construction sites have begun, with work underway on Renzo Piano's station and the City of Health and Research, the regeneration project, promoted by Hines as co-investor and development manager, aims to reconnect the former Falck area with the territory of the municipality of Sesto San Giovanni and the city of Milan. For the overall realisation of Unione Zero, an investment of about EUR 600 million is envisaged, which will generate an estimated spin-off in the area of about EUR 1 billion.

Il rendering degli spazi pubblici di Unione Zero

The first construction site, subcontracted, in temporary association, to Colombo Costruzioni Spa and CMB (group leader and principal respectively) envisages an investment of 220 million euro, 36 months of work and an average of about 300 skilled workers per day for the construction of three buildings. This first phase of construction involves the development of an office building of approximately 48 thousand square metres, which will house the new Intesa Sanpaolo offices and will be handed over to the Bank by the end of 2027, as well as a further office building of 45 thousand square metres with the possibility of renting also multi-tenant buildings, both designed by Antonio Citterio Patricia Viel (ACPV), and a student building of approximately 39 thousand square metres and 700 beds, designed by Park Associati. All the spaces aim to obtain the highest environmental certifications: Leed Platinum and Well Gold certification for the executive spaces, while the student residence will be Leed Gold certified. The ultimate goal is to reduce energy requirements by 30% compared to traditional systems, using renewable sources and innovative materials.

Il rendering dei nuovi uffici di Intesa Sanpaolo

"After a long and complex reclamation process," explained Mario Abbadessa, senior managing director & country head of Hines in Italy, "we are ready to start work on Unione Zero, fulfilling the commitment made to the city of Sesto San Giovanni, which has been waiting for over twenty years to see such a strategic area for the entire Lombardy region reborn. In fact, the new urban pole that we are building will transform a large portion of the former Falck area into a dynamic and attractive neighbourhood, which will make a tangible contribution to increasing the offer of new residences and student halls of residence at the service of the entire metropolitan area of Milan, as well as new flexible and sustainable work spaces. Together with Ex Trotto Milano, the Unione Zero project represents a further example of the urban and social regeneration model promoted by Hines, which starts from people's needs and new requirements linked to changing lifestyles, thanks to a long-term vision".

Il rendering dello studentato

Unione Zero covers a total area of approximately 250,000 square metres and envisages a functional mix, including office spaces, student halls and residences, which will accommodate a total of approximately 6,000 people. As part of the development of the six new buildings in the project, public spaces will also be emphasised with particular attention. The new Unione Zero neighbourhood will be predominantly pedestrianised, rich in widespread greenery, with the inner courtyards of the residential buildings also accessible to non-residents. The area is owned by the Unione 0 real estate fund, managed by Prelios Sgr and participated alongside Hines by Cale Street, a real estate investment company backed by the Kuwait Investment Office, the London office of the Kuwait Investment Authority. Together with the development of the buildings, Hines will also manage the functional urbanisation works for the new urban centre and the City of Health and Research, the project promoted by the Lombardy Region.
This is not just the laying of the foundation stone, said Fabrizio Palenzona, chairman of Prelios, on the sidelines of the presentation of the building site, but "the beginning of an example that applies to the whole country: here there has been institutional harmony, a large bank that has believed in it and private individuals who have played their part".

"Today is a 'zero time' also for us, the fund's shareholders, and it is also a bit of a crowning achievement of the important work we did last year with Intesa Sanpaolo and Redo, which in fact helped to create the necessary conditions for the launch of the Unione Zero project," said Matteo Ravà, CEO of MilanoSesto. As part of the restructuring of the redevelopment of the former Falck areas in Sesto, Redo Sgr and Coima Sgr, together with Intesa Sanpaolo, by taking over 100% of the company MilanoSesto have indirectly become shareholders, together with Hines and Cale Street, in the Unione Zero fund managed by Prelios.
Redo and Coima undertook to bear 100% of the costs of the public works preparatory to Unione Zero, including the bridge connecting the two sides of the railway strip, and purchased 100% of the volumes dedicated to social housing. In detail, MilanoSesto bears the cost of the public works and infrastructures for about EUR 80 million, while Redo and Coima acquire the 27,000-square-metre social housing portion for a consideration of about EUR 29 million.