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Costa del Sol news

ESTEPONA

The agreement, worth 30 million euros, means that the project will be the largest of its kind on the Costa del Sol
07.03.14 - 14:02 -
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Estepona receives funding for its central grand boulevard
Aerial view of Avenida San Lorenzo where the grand boulevard will be built. :: L.P.
As the saying goes, third time lucky. This is exactly true for the construction of Estepona’s grand boulevard which, after two failed attempts to find investment, now has three companies willing to put forward 30 million euros and form a consortium. The project will convert one of the main streets of the municipality into a hotel, shopping and leisure zone. With this investment, the boulevard will be the largest public works project on the Costa del Sol, although it is financed by private capital.
The company which has been specially formed for the programme is called Estepona Bulevar SL and will be in charge of construction which will take place from Avenida San Lorenzo to the Parque Central.
In the area closest to the beach a four star hotel will be built with around 150 rooms. The leisure zone is set to be situated behind the hotel and will be made up of a shopping centre and a four-screen cinema complex.
As part of the deal signed with the contractors, a new town hall will be built as part of the scheme. For the next 75 years Estepona Bulevar SL will control the boulevard until it eventually returns to public hands.
Job creation
Councillor Ana Velasco announced that, once built, the council will negotiate with the contractor to ensure that Estepona residents will be given preference when the selection of workers begins for the numerous employment opportunities that are to be created.
Work will begin when all the paperwork has been finalised, which at the earliest will be this summer. The contract stipulates that the project must be completed within 25 months of its start date. Therefore, the boulevard is expected to be finished in October 2016.
The town council was very pleased with the agreement and the fact that 30 million euros will be invested into the town. The private consortium will spend 100,000 euros on general street embellishment as well as another 100,000 euros on social projects. There will be 100 parking spaces available for registered local residents.

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