The former Atrium shopping center Faro will give way to a "superior four-star hotel", according to the Sul Informação with the mayor of Faro.
The building located in the commercial Baixa district of the Algarve capital, in the middle of Rua de Santo António, was purchased less than a month ago by an investor who has already submitted an architectural project to the municipality, for which it even «has a positive opinion from the Regional Directorate of Culture », revealed Rogério Bacalhau.
The request for a prior opinion is still being evaluated by the municipal services of Faro, but the mayor's president does not foresee that there will be obstacles to the advance of this investment. “For us, in terms of construction indices, everything is in line. I believe that, very soon, the works will be able to begin», he said.
For now, little is known about the new development, except its typology and, of course, location. Rogério Bacalhau only guarantees that the entire Atrium building will be used for the hotel unit, that is, it will no longer have a shopping center component, as it had until now.
The mayor of Faro he did not reveal the identity of the people who are making this bet, who asked to remain anonymous for the time being, but, Sul Informação he learned, this is a project that is being headed by entrepreneurs from the Algarve linked to the hotel and restaurant sector.
The value of the investment in the work itself is also to be determined. The amount paid for the property that will house the new hotel will have been at least 2,3 million euros, the price requested by Banco Millenium BCP, holder of Atrium's property rights, following the bankruptcy of the project in 2009 .
The new owner of the space was the one who presented the most advantageous proposal to the credit institution in an auction that, you know, Sul Informação, there were other bidders who submitted proposals for just over 2 million euros.
Since the closing of the Shopping Center, the Atrium has opened on two occasions, around Christmas 2014 and 2015, to host the Centro Criativo da Baixa de Faro, promoted by the municipal company Ambifaro, in partnership with various entities in the municipality. The concept went through the installation of stores pop-up and for the promotion of animation initiatives.
out of these hot flushes of animation, the space has been with the doors closed or boarded up and the exterior walls are painted with graffiti.
The Atrium stands on the site where, for decades, the Cinema de Santo António, with the main entrance on the street with the same name.
Photos of the current state of the property:
Photos: Hugo Rodrigues|Sul Informação
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