Article
It's the first time that the real estate fund has completed a sustainable new-build project in the Canton of Ticino. Parco Brentani combines modern living with the creation of urban green spaces.
November 2, 2023
Parco Brentani is CS REF Green Property's first development project in Ticino. The new-build was completed at the beginning of August 2023 and will have Minergie-P certification and the "greenproperty"1 Gold quality seal. The two nine-story residential towers set new standards in Lugano North and comprise a total of 153 apartments ranging from 1.5 to 4.5 rooms. There is a supermarket on the ground floor. Behind the building lies Parco Brentani, an urban park created especially for the neighborhood, which is located between the city center and the Cornaredo stadium. The park with a children's playground is open to the public and serves as a place of recreation for young and old alike.
Credit Suisse Real Estate Fund Green Property geographical breakdown
The repurposing of the land is a positive example of modern urban planning: only half of the original parking lot has been built on and offers attractive living space. The other half is now being used as a valuable park area that enhances the quality of life for the whole neighborhood and makes a major contribution to reducing urban warming. The flat roof above the supermarket that connects the two towers is also generously covered with greenery. The adjacent apartments on either side each have a small private garden, including a pergola. Although these two apartments don't have a direct view of Lake Lugano, unlike those on the seventh floor and above, they are very popular with tenants.
Credit Suisse Real Estate Fund Green Property property types
A sustainable solution was also found for irrigating the roof-top garden: a cistern was installed in the ground beneath Parco Brentani to counteract water shortages in the summer months. The rainwater is harvested and filtered in the cistern so that it can be used to sustainably water the green roof during hot weather and droughts.
Building sustainably and investing are not mutually exclusive, as Credit Suisse Real Estate Fund Green Property has been demonstrating since 2009. The high-quality real estate portfolio worth approximately CHF 3.2 billion focuses on urban locations throughout Switzerland. At around 35 percent, the main type of usage is residential, followed by office properties at 32 percent. The new building stock generates regular income and provides consistent distributions to investors. The fund, one of the most actively traded real estate funds on the SIX2 Swiss Exchange, has been listed for ten years and is available to the general public.
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1 The quality seal is written "greenproperty." The fund's name is written CS REF Green Property. The fund's name is written Credit Suisse Real Estate Fund Green Property.
2 Source: Credit Suisse Swiss Real Estate Funds monthly presentation, September 2023.
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