Buenos Aires’ “Nuevo Núñez”: The Rise of a Luxury Urban Oasis

Buenos Aires is experiencing a significant shift in its real estate landscape, particularly along the Avenida del Libertador. A $370 million development, dubbed Udaondo Buenos Aires, is poised to redefine the city’s northern corridor, challenging the dominance of established luxury towers and potentially reshaping the concept of urban living in the Argentine capital. The project, located in the emerging “Nuevo Núñez” microzone, aims to create a mixed-use district integrating residential, office, educational and commercial spaces – a model seen in cities like New York and São Paulo.

The appeal of this area stems from a unique combination of factors: its integration within the existing city fabric, proximity to major access routes, abundant green spaces, river access, and a concentration of schools and universities. Crucially, the area boasts 12 hectares within the Parque de la Innovación, offering almost untouched land for modern construction. This confluence of attributes is attracting residents from traditional buildings in the area, seeking more contemporary amenities and enhanced views.

A New Urban District Emerges

Udaondo Buenos Aires, spearheaded by Landmark Developments, is at the heart of this transformation. The ambitious project encompasses three 100-meter towers and over 165,000 square meters of constructed space, featuring high-complete residences and incorporating artwork from renowned Argentine artists Marta Minujin and Daniel Joglar. Alejandro Furst, CEO of Landmark Developments, positions the project as a modern counterpart to the iconic Kavanagh building, which previously redefined urban living in Buenos Aires. El Comercio details the historical significance of landmark buildings in Buenos Aires, providing context for the scale of this new development.

Following a private sales phase (“Friends & Family”) where approximately 30% of the units were sold, public sales have commenced. Prices start at $8,000 per square meter, with a payment structure of a 30% upfront deposit and 48 monthly installments in pesos, plus the CAC (Construction Cost Index). This pricing reflects a premium positioning within the Buenos Aires market, targeting a specific demographic.

Demand Driven by Lifestyle Shifts

Gabriela Goldszer, director of Ocampo Propiedades, the master broker for the project, notes a growing demand from families transitioning from large houses to modern, luxury apartments. These buyers prioritize spacious layouts – up to six rooms – with high ceilings (up to three meters) and unobstructed river views. The project is designed to cater to this demand, offering units ranging from 74 to 719 square meters. Construction began 18 months ago, with completion anticipated by 2030.

The development will comprise two residential towers and a third tower dedicated to mixed-use, including a five-star international hotel with 105 rooms and three dining options: a public restaurant, a sky bar with panoramic views, and a pool bar for events. A central garden will connect the buildings, providing residents with access to hotel amenities. The inclusion of a hotel component is a common strategy for luxury residential developments, offering convenience and potential revenue streams.

Amenities and Design Focus

Udaondo Buenos Aires will feature 7,600 square meters of amenities, including wellness and fitness areas, lounges, co-working spaces, concierge services, and a covered Olympic-size swimming pool – a rarity in Buenos Aires residential projects. The design, led by the Aisenson studio, blends traditional architectural elements with innovative and modern concepts. Residents will have access through three pedestrian entrances on Ricchieri, Udaondo, and Avenida Libertador.

The project also emphasizes sustainability, aiming for LEED Gold and Fitwel certifications. This includes utilizing geothermal and aerothermal systems for heating and cooling, reusing greywater, implementing composting systems, and employing double-glazed windows for thermal insulation. These features align with a growing global trend towards environmentally conscious building practices.

Investment and Market Dynamics

Units in the Ciudad tower start at $600,000 and reach up to $7 million, reflecting the project’s focus on large, high-end residences. The developers are deliberately moving against the trend of shrinking apartment sizes, capitalizing on a perceived lack of spacious luxury options in the market. The showroom, opened this week, offers a fully furnished model apartment on the 22nd floor, complete with virtual reality experiences showcasing the views and common areas. This immersive approach aims to convey the lifestyle the development promises.

The scale of the project is considerable. Landmark Developments estimates that the amount of earth removed during excavation would fill a line of trucks reaching Pilar, a city located approximately 50 kilometers outside of Buenos Aires. This illustrates the significant infrastructural work involved in the development.

What’s Next for Udaondo Buenos Aires

The project is currently focused on completing the substructures and foundations, with work progressing on the underground levels and parking facilities. Landmark Developments is actively promoting the development through the showroom and a series of cultural and social events, aiming to engage the professional community and the wider city. The completion of the project in 2030 will mark a significant milestone in the transformation of the Avenida del Libertador corridor and potentially set a new standard for luxury urban living in Buenos Aires. The success of Udaondo Buenos Aires could spur further investment in the “Nuevo Núñez” area, solidifying its position as a premier destination within the city.

Further details on the project’s progress and sustainability initiatives can be found on Landmark Developments’ website: Landmark Developments. Information on the Ocampo Propiedades brokerage can be found here: Ocampo Propiedades. For broader context on real estate trends in Buenos Aires, consult reports from the Argentine Chamber of Construction: Cámara Argentina de la Construcción.