CM: Plans for new San Siro had stalled but €350m investment of US agency changes things

By Oliver Fisher -

The Nuovo Stadio Milano project may have taken a step in the right direction due to the involvement of American company Hines, a report claims.

According to the latest from Calciomercato.com, the project to build a ‘new San Siro’ has been stalled for quite some time as the City Council continue to express doubts to Milan and Inter regarding their plans.

The clubs are meeting with the municipality (on video conference) bi-weekly to try and accelerate proceedings, but in the past few days there may have been a turning point in one of the areas affected by the projects, that of the Trotto Hippodrome.

The US real estate agency Hines has confirmed through a press release that it has completed the purchase of the land where the former Trotto and San Siro training centres are, which will be transformed into an important mixed-use project with a predominantly residential purpose.

The initiative – which would also include a park of 30,000 square meters – has as its long-term objective investments of around €350million in the next four years. According to il Corriere dello Sport, Inter and Milan – through Elliott and Suning – have made it known that they are interested in construction of commercial spaces linked to the new stadium.

With this in mind, a new video conference interview will be staged between the two clubs and the Council next week, probably on Tuesday.

As Tuttosport notes, the cancellation of the project to build the largest shopping center in Europe in Segrate (following the Coronavirus emergency) means that the Nuovo Stadio Milano is the most important investment project in the metropolitan city of Milan.

Tags AC Milan San Siro