Marco Garza
Director General
GM Capital
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Modern Developments the Perfect Mix Of Live, Work, Play

By Jan Hogewoning | Tue, 10/22/2019 - 15:44

Q: What have been GM Capital’s latest developments and what are your recent emblematic achievements?

A: We are working on a mixed-used project called Distrito Armida, in Valle Oriente in the municipality of San Pedro Garza García, Nuevo Léon. This urban complex has more than nine towers in over 600,000m2 of construction. It includes vertical living and commercial spaces, entertainment, hotels, office buildings, health and educational services. Regarding the latter, it is planned to have educational services from kindergarten to high school throughout the district.

At this moment, we are about to finish the first of the six phases. It has an 18,000m2 office tower, 5,500m2 of WeWork space, an AC by Marriott hotel, a kindergarten and 7,000m2 shopping area. This phase will be concluding its construction in January 2020. At the same time, phase two and three are under construction. For the second phase, a strategic alliance was made with Grupo Ángeles. It consists of the extension of Hospital Angeles, and it will have 196 medical offices, 9,100m2 of medical areas, a 1,000m2 commercial area and a long-stay hotel with 180 rooms. The third phase will include departments and a commercial area.

In addition to Distrito Armida, we are going to launch another mixed-use project, located in the same area. This project will have 900,000m2 of construction. We will build 20 towers, that will include commercial areas, offices, vertical housing, hotels, museums and entertainment.

The focus of all our projects is the people, that is why we create places where you can have everything within reach, to improve the quality of life.

Q: How does GM Capital work to innovate in its developments?

A: We are betting on modern living, which does not precisely refer to advanced technology or an avant-garde architecture, but to the willingness to change our habits and lifestyle with the objective of being more productive people.

Unfortunately, cities in Mexico have been built around vehicles rather than pedestrians’ needs. Vehicles are intended to be used only for long distance trips and for this to be possible, the city must have the necessary infrastructure for the pedestrian alongside new guidelines and regulations to decrease vehicle usage.

Furthermore, we need to build dense cities. Cities have two types of space: private and public. To build a city designed for the people, we need to build dense, compact and vertical private spaces. Meanwhile, public spaces should be adequate for pedestrians and cyclists to feel safe.

Although it is complicated, cities can change. However, in order to achieve this, three main players need to work together: the developers in charge of creating private and public spaces, the authority responsible for developing public infrastructure and the citizens who will be the final users. We are working together with the appropriate state authority and other developers to create a Pedestrian Mobility Plan that will be implemented in 2020.

Q: How are commercial and residential real estate evolving?

A: Throughout the current presidential administration, there has been a total economic slowdown in Mexico City regarding real estate development. But in places like Guadalajara, Queretaro and Monterrey, this sector has been growing. The ideal market for GM Capital is Monterrey, because so far, its market behavior has been really rewarding, office spaces and living spaces are being sold. At the same time, we are creating both direct and indirect jobs.

Q: What strategies are you implementing to make sure new developments align to the city’s needs?

A: We are working towards convincing the authorities to change some of the current urban guidelines which promote vehicle usage. Some laws even require us developers to build parking spaces for storage rooms, which doesn´t make any sense, instead we could use this space in a more efficient and smarter way. 

 

GM Capital is a Mexican company dedicated to the design and construction of residential projects. The company has started working on the conceptualization of shopping centers and subsequently the projection, design and construction of mixed-use developments

Photo by:   GM Capital
Jan Hogewoning Jan Hogewoning Journalist and Industry Analyst