Renovation of a historic building on Piazza Cordusio
Fosun International, the largest Chinese private investment fund, presented The Medelan, a regeneration project for the former Credito Italiano building in Milan.
Located on Piazza Cordusio, the building was acquired through the associate Fidelidade, the largest Portuguese insurance company, for 344 million euros. The renovation project, for an expenditure of 100 million euros, will restore an exclusive location to the city: an open facility to utilize 24 hours a day, 7 days a week.
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The Medelan (from the first name of Milan, dating back to the Celts in 590 BC) will be a building from the last century that is reinvented to become a reference point in the historical center of the city, a new facility for business, shopping and international tourism.
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The complex is one of the most important historical buildings of architectural value in the Lombardy capital. It is composed of three connected volumes, dating back to different historical periods.
The main one is the former Credito Italiano building (1901, designed by the architects Luigi Broggi and Cesare Nava) bordering on Via Tommaso Grossi with the Magazzini Contratti building (1903, Luigi Broggi). The more recent wing (1960, Giovanni Muzio) completes the structure of 55,000 square meters between Piazza Cordusio, Via Grossi, Via Santa Margherita, Via San Protaso and Via Porrone.
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The renovation done in collaboration with GLAÂ -Â Genius Loci Architettura will lead to the construction of an exclusive complex that combines the historic features of the building with innovative and ecosustainable solutions, providing shops, offices and facilities for leisure time.
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In particular, the levels from the basement to the first floor (about 12,000 m2) will be set aside for shops; from the second to the fifth (over 20,000 m2) there will be offices designed with a new approach; the sixth (about 2000 m2, partially indoors) will contain a restaurant with a panoramic terrace. The remaining areas are earmarked for parking, services, storerooms and gardens.
