A TORREVIEJA developer has announced plans for a 1,800 home development as part of a new urbanisation containing 7,490 properties in the Costa Blanca city.
The largest piece of urban developable land in Alicante province is at La Hoya covering an area of almost two million square metres.
The TM Real Estate Group is one of three developers that have been awarded licences to build in an area bordered by the CV-905, the La Siesta urbanisation, La Mata natural park, the Quiron hospital, and Torrevieja’s International Auditorium.
TM has unveiled its contribution called Lagoons Village where it plans to build up to 1,800 new homes over eleven phases at a cost of €375 million.
The first phase branded as Laguna Rosa has a €63 million budget and will have a mix of apartments, bungalows and villas.
It will be the firm’s second-biggest project in Spain, behind the Mar de Pulpi complex in Almeria, where 1,500 homes have been constructed out of an eventual 2,600 properties.
The Torrevieja development will occupy 264,000 m2 and will include common areas with large gardens, swimming pools, jacuzzis, decorative lakes and walkways.
As part of the plan for the La Hoya area, TM will build roads and accesses, wide avenues and green areas, and a sports centre for home owners equipped with a heated swimming pool, indoor and outdoor gym, sports courts, spa, beauty treatment rooms and a physiotherapy centre.
The company claims that the project will be one of the ‘most emblematic’ in its history.
TM CEO, Pablo Serna, said: “Torrevieja is currently a benchmark in the residential tourism sector nationally and internationally and our project will consolidate that position by promoting one of the most important urban developments in Spain.”
“We are fully convinced that the success of Lagoons by TM will strengthen the economic and social development of the area and consolidate our leadership in residential tourism,” he added.
The two other developers Elche Corpic and Eurovillas have yet to declare their plans.
All of the developers will have jointly build a lake close to the CV-905 which can store 40,000 cubic metres of storm water linked to water collectors to prevent any flooding.
The link road between the CV-905 and the N-332 will also be substantially upgraded and 413,000 m2 of land will create green spaces including a large area to the south of the La Mata lake.
A commercial centre covering over 1,000 m2 will be set up between La Siesta-El Chaparral and the Jardin del Mar, with DIY retailer Bauhaus pledging to open on the site.
The build time for La Hoya runs up to 25 years and once finished, the development will accommodate an estimated 18,000 people.