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5 Housing - Intervention in the Plaza Redonda in Valencia city centre
(Spain)
Size of investment: Approximately USD 11.8 million (€10 million)
Start date: 2012
End date: 2015
Project stage: maintenance
Project partners
• Public partners:
o City Hall of Valencia (local authority)
o Valencia Regional Ministry of Housing, Civil Engineering and Territorial Consolidation
o Ministry of Transport, Mobility and Urban Agenda of Spain
• Private partners: 71 home-owning households
Project description
The aim of the project was to rehabilitate the Plaza Redonda, a unique piece of Valencian architecture
from the 17 and 18 centuries in the Valencian city centre. The Plaza Redonda, or “Round Square”
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is enclosed by shops at the street level, with apartments on the upper floors. The plaza structure
was originally created in the mid-1800s and its historical value has earned it protected status in
Valencia. It is known as one of Valencia’s most unique tourist attractions due to its peculiar design.
It was a popular area historically as a market for buying fish and meat. The renovation of the plaza
included parts of the building that are privately owned by households, as well as the interior of
the plaza which comprises spaces for small companies and business venues. Since its renovation,
the plaza has become surrounded by traditional craft shops and tapas bars, along with small stalls
that sell lace, embroidery, fabrics and Valencian souvenirs.
The historical value of the Plaza Redonda and justification for its renovation were established in a
study on the comprehensive rehabilitation of the plaza and constituent buildings undertaken by
the Valencia City Council in April 2000, through the Actuacions Urbanas de València (AUMSA). The
aims of the intervention included the renovation of the interior and exterior facade of the complex,
the standardization of roof volumes and redevelopment of the surrounding public space. The plan
for the conservation and preservation of the Plaza Redonda included the involvement of businesses
and homeowners.
20 Compendium of practices on innovative financing for SSC projects | January 2023