The project for the revitalization of the Port Region of Rio de Janeiro, named Marvelous Port integrates and revitalizes an area of 5 million square meters between Avenues Presidente Vargas, Rodrigues Alves, Rio Branco and Francisco Bicalho. Promoted by the City Hall, with the support from the State and Federal Governments, this project scheduled for completion in 2015 includes the demolition of 4km of the elevated highway Perimetral, construction of 4 km of tunnels, re-pavement of 70 km of streets and 650,000 square meters of sidewalks, reconstruction of 700 km of networks of urban infrastructure (water, sewer, drainage), building of 26 km of tracks for the new light rail vehicle (VLT) and 17 km of bike lanes, implementation of fiberoptic broadband, etc.
With the advancement of Porto Maravilha, the region will be prepared for increasing its population of 30 thousand to 100 thousand in 10 years. FII PM of Caixa is funding those structural changes in the region through the investment of 8 billion reais (circa 4 billion dollars), which are expected to be more than recovered from their participation in private sector property projects in Porto Maravilha.
For more information, please see the videos below and visit www.portomaravilha.com.