Unico Buenos Aires Hotel
The Alvear Tower is a residential and hotel high rise currently under development on Azucena Villaflor Avenue, east of Dock Two in the upscale Puerto Madero section of Buenos Aires.
A mixed-use development, the 53-story, 70,000 m2 (753,000 sq ft) building will include 175 condominiums totalling 34,000 m2 (366,000 sq ft), as well as a five star hotel. The building's residential floor plans are notable for their variety - ranging from 100 m (330 ft) to 500 m (1,600 ft) - as well as their 3.3 m (11 ft) ceilings.
Its development is taking place on a 7,000 m2 (75,300 sq ft) lot sold by Grupo Chateau (the local builders of the neighboring Château Puerto Madero Residence) for US$35 million to Madrid-based developer Rayet for the construction of the Hotel Único Buenos Aires. Originally scheduled to open at the end of 2010, the Único Hotel project was canceled. Rayet sold the lot to Anglo-Argentine developer, David Sutton, the proprietor of the Alvear Palace Hotel, on March 5, 2010. The Alvear Tower, is budgeted at USD 130 million and is scheduled for completion in late 2015.
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