More than a real estate company.
Established at the end of 2020 as a platform for Votorantim’s real estate investments, Altre made progress in several areas during its first full year of operation, starting with the creation of its governance structure, the appointment of a CEO, and the establishment of a Board of Directors that includes independent members. Altre chose to settle in Vila Leopoldina, a neighborhood in São Paulo where, since 2016, the company has been conducting an innovative project of urban renewal aligned with the concept of smart cities, combining economic development with social gains.
In 2021, the project got a name, Spark, and its own brand. It includes the ARCA entertainment space and the STATE innovation and technology hub, both of which are former warehouses owned by the holding company that were retrofitted and repurposed, in addition to the Atlas Office Park, which houses corporate offices.
Most of the events hosted by ARCA in 2021 were held online due to the pandemic. Of the events held in person, the most important was the São Paulo International Art Festival (SP-Art), which attracted approximately 7,000 people per day over the course of five days. As the health crisis subsides, ARCA’s schedule of events for 2022 is getting increasingly busier. Next to STATE, construction work for the expansion and retrofitting of new office spaces was completed during the year. Part of the space has already been leased and now houses the new headquarters of a large furniture and decor company. At the Atlas Office Park, where Altre’s headquarters are located, the highlight was the acquisition of the remaining 50% stake in the project, which is now fully owned by Altre.
Spark is expected to continue to make progress in 2022, when the external areas, which are being sought for music and gastronomic events, are expected to be rented. In the long term, approximately 40,000 square meters will undergo transformations that are currently being designed, authorized, and awaiting licenses and permits.
Spark is part of the Vila Leopoldina Villa Lobos Urban Intervention Project proposed by the company to revitalize and address issues of public interest in the region, which is home to some vulnerable communities. The objective is to provide decent and high-quality housing—an initiative that depends on a change in the zoning law of the city of São Paulo that requires approval by the city council in two rounds. At the end of 2021, the company submitted the final reports recommending approval by the thematic committees and the project received the first round of approval.
Altre also made important progress in the development of planned neighborhoods. One example was the launch of Vivalegro, a new neighborhood in the town of Votorantim in the state of São Paulo, where all 450 phase-one lots have been sold. This initiative was the first step in Altre’s strategy to develop its own assets. At the same time, the company is in the process of licensing the first phase of a planned neighborhood in the town of Paulista in the state of Pernambuco, which is expected to be launched in 2022.
On the agenda of new investments, in addition to the recent acquisition of the Atlas Office Park, Altre acquired 60% of the corporate tower Alto das Nações, which, once completed in 2025, will be the tallest building in São Paulo. The company also began prospecting for real estate investment opportunities in the United States.
