(MEXICO CITY) — Hines and Ivanhoé Cambridge, co-owners of Corporativo Neuchâtel, together with MIRA, acting as master developer of the Neuchâtel Cuadrante Polanco mixed-use community in Mexico City’s Nuevo Polanco, are proud to announce that construction of the office building of Corporativo Neuchâtel is well underway since 2018 and is on track for completion in January 2022.
The Hines and Ivanhoé Cambridge partnership is committed to providing tenants and residents with the healthiest and most flexible environment, and Corporativo Neuchâtel was designed with this in mind, with a focus on health and wellness in the wake of a post-COVID-19 environment. The project will pursue WELL certification from the International WELL Building Institute™ (IWBI™), which provides premier standards for buildings and interior spaces and is the first rating system to focus exclusively on the impacts of buildings on human health and wellness.
Corporativo Neuchâtel will benefit from new technologies that optimize the effectiveness of improving indoor air quality (IAQ), natural lighting, surface decontamination, behavioral patterns of physical distancing, building entry protocols such as thermal screening, as well as the performance and satisfaction of employees.
The collaboration in this project further demonstrates Hines and Ivanhoé Cambridge commitment to bringing a safe, state-of-the-art, high-performance office tower to Mexico City. Designed by global architecture firm HOK, Corporativo Neuchâtel will contribute to creating a new standard in office design and architecture for Class AAA offices in the region.
Raising the bar for high performance and user experience
Corporativo Neuchâtel is being built to the highest architectural and structural specifications. With about 38,600 square meters (≈415,500 square feet) of GLA, it will be Mexico City’s first truly high-performance building, featuring 19 floors of Class AAA office space with 2,250- square-meter (24,200-square-foot) average floor plates.
Corporativo Neuchâtel will offer top-tier amenities, such as an exclusive-use fitness center and gym, a fully staffed conference center and coworking space, along with bicycle parking and electric-vehicle charging stations. It will also feature a hospitality-inspired lobby with an integrated café, as well as a library lobby lounge.
As a major differentiation in the current Mexico City office market, Corporativo Neuchâtel will also offer employees a cutting-edge urban campus experience. Located at Avenida Rio San Joaquin #498, Corporativo Neuchâtel offers direct street access to Ave. Rio San Joaquin, reducing vehicle commute times. The building will be nestled between two landscaped plazas that feature ample green space as well as pedestrian and bicycle connections to nearby restaurants, services, cultural centers and museums in Polanco, one of the most desirable neighborhoods in Mexico City.
The building’s extensive amenities establish Corporativo Neuchâtel as the city’s most creative work environment, one designed to attract and retain the talent that today’s leading companies seek.
“The pre-pandemic trend of “health and wellness” has now taken on an entirely new meaning as employers look to keep their workforces healthy and employees seek comfort in knowing they are in a healthy environment,” said Rodrigo Peredo, Hines managing director. “That’s why it is imperative that we take an evidence-based approach to make our workspaces safer as we return. We are excited about the opportunity to extend the WELL Building Institute’s partnership to Corporativo Neuchatel to continue leading by example with newer technology, better systems and a holistic approach to creating a healthier environment that contributes to employee productivity and wellbeing.”
Jorge Margain, Managing Director, Mexico at Ivanhoé Cambridge, added: “As investors, we understand how our capital can play an important role in developing sustainable and modern places to live, work, play and more, in major cities around the world. Neuchâtel Cuadrante Polanco is an extraordinary opportunity to create a sustainable and socially responsible urban community that is more attractive to today’s professionals who seek to be in a transportation-friendly location that supports a healthier work-life balance. We are delighted to collaborate with Hines and MIRA on this great project.”
The Neuchâtel Cuadrante Polanco Master Plan
Owned by Ivanhoé Cambridge and developed by MIRA, Neuchâtel Cuadrante Polanco is Nuevo Polanco’s premier mixed-use development specifically designed to foster healthier and more satisfying urban lifestyles for its tenants, residents and customers. With a master plan consisting of 1,400 residential units, more than 4,900 square meters (52,700 square feet) of destination retail; and Class AAA office space; the Neuchâtel Cuadrante Polanco development creates a new epicenter of mixed-use activity in the Nuevo Polanco submarket.
Neuchâtel Cuadrante Polanco will feature more than 1.2 hectares (3 acres) of public space where residents, office tenants and visitors will enjoy green areas, linear parks and landscaped plazas along with authentic ground-floor retail featuring best-in-class restaurants and amenities. As part of the first phase of the mixed-use community, MIRA has completed the first two residential buildings with a total of 572 units.
Roberto Pulido, CEO of MIRA, stated: “Active open areas, a curated retail experience, and providing a meeting point for the neighborhood are the main characteristics of this project. The environment will foster the creation of a vibrant mixed-use community and has been the fundamental basis for architectural and landscape design."
The development team has awarded the listing for the project to Amy Henderson and her team at CBRE Mexico. Construction of the building structure has been completed with The Beck Group serving as the general contractor for the project.
About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,100 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$60,4 billion in real estate assets as at December 31, 2020 and is a real estate subsidiary of Caisse de dépôt et placement du Québec (cdpq.com), a global investment group. For more information: ivanhoecambridge.com.
About Hines
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees investment assets under management totaling approximately $83.6 billion¹. In addition, Hines provides third-party property-level services to more than 367 properties totaling 138.3 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totaling over 492 million square feet. The firm currently has more than 171 developments underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information. ¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2021.
Hines began operations in Mexico City in 1992. With a history of more than 28 years of development and acquisitions in Mexico, Hines is currently developing over 1.1 million square feet of office and industrial properties in Mexico and manages or owns over 16 million square feet of office and industrial assets across 11 markets.
About MIRA
MIRA, founded in 2007 is a real estate company focused on the development of urban mixed-use communities in Mexico. The company operates as a vertically integrated developer and manager with a team of 80 professionals exclusively working on its projects. The company has raised over US$1.1 billion in institutional capital from global funds, sovereign funds, pensions and private investors. The first fund of US$513M in 2008 and the second fund of US$200M in 2014. Both funds are fully committed within Mexico. MIRA, always on the leading edge, became a fund manager for the third time with the placement of the first CERPI in the Mexican market, where the firm raised P.s. $4B from AFOREs and P.s. $4.18B from Ivanhoé Cambridge, for a total of P.s. $8.18B. Investors in MIRA (Ivanhoe Cambridge, Black Creek Group) are proven investors with experience and results in the Mexican and international real estate markets. MIRA is currently developing communities in Mexico City and Queretaro.
