Urban Campus adds a new coliving in Madrid

Urban Campus adds a new coliving in Madrid

Urban Campus expands its Madrid portfolio. The coliving residential buildings operator will open a new asset in the capital in partnership with the socimi Vitruvio. The new project will be located at number 4 Duque de Rivas street, very close to Madrid's central Plaza Mayor.

The operator has signed a management contract with the socimi to launch this new Madrid coliving, which will be refurbished by Vitruvio as a residential rental building with communal areas for young professionals.

For Jorge de Vera, Vitruvio's head of investment, "investment in improving the quality and residential offer in the centre of Madrid is consistent with our philosophy and positioning, but also very necessary to revitalise such an ageing urban centre". The executive also points out that Vitruvio is carrying out a very deep transformation in this building, with a lot of previous urban planning work and, now, construction work to execute it.

The asset will be transformed into a coliving with 31 flats and 44 beds.

It is a historic building built in 1900, located in the lively neighbourhood of La Latina, very close to Calle Mayor. It shares its location with the imposing Palacio de Viana, which is next to the Ministry of Foreign Affairs. This building will be completely transformed into a coliving, and a complete refurbishment will be carried out to create 31 flats and 44 beds.

The offer will range from individual studios to one- or two-bedroom flats, equipped with bathroom, kitchen and separate living room. Cluster studios, with a shared bedroom, kitchen and living room, will also be offered.

The common areas of the building are a distinctive feature of Urban Campus. For this reason, more than 180 square metres have been set aside for areas such as a coworking space for residents, a gym, a kitchen and a leisure area for events and meetings.

The interior design of the building has been carried out by the Urban Campus team, which will also be in charge of its management once it is inaugurated at the end of 2024. With this next opening, the company will reach a total of 400 units in the Spanish market.

For Casilda Mulliez, head of Real Estate and Business Development Iberia at Urban Campus, "this project consolidates us in the Spanish market. With Duque de Rivas we will have a presence in the main and best neighbourhoods of Madrid, thus ensuring strategic growth thanks to alliances with investment groups. We will continue to look for opportunities in the capital to strengthen our presence and offer turnkey accommodation solutions to a generation looking for comfort, community and services".

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