The city will set up a technical office for the urban transformation of the district and will contribute 57 million euros.
The remaining EUR 338.7 million comes from the private sector.
In Barcelona there is hardly any land available for housing, which is why there are currently only three major real estate projects in the city: in the 22@ area, the area surrounding the future Sagrera railway station and La Marina.
The new district will be structured around a 2.4 hectare central park and a 720 meter long axis that will run parallel to calle del Foc.
Technological and commercial area
12,000 homes are being built in La Marina, of which 5,160 are social housing. About 28,000 people will live here.
Barcelona wants to transform the district into a technological and commercial area. The goal is to create between 8,000 and 11,000 jobs.
Planning procedures started in 2006 and work is expected to be completed within 16 years. The La Marina del Prat Vermell district is part of the Sants-Montjuïc district.
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