Belo Horizonte may have the tallest building in Latin America.

Mines 247 - For forty years the tallest building in Belo Horizonte, the JK complex is about to be dethroned. The Andradas Complex project, by the engineering and architecture firm FarKasVölGyi, aims to bring the tallest building in Latin America to the capital of Minas Gerais. With 85 floors and 350 meters in height, the new skyscraper – an English term used to define skyscrapers – will surpass the Trump Ocean Club International in Panama City, which is 300 meters tall.

The mega-project, expected to cost around R$ 2 billion, will be built along Boulevard Arrudas, on a plot of 85 square meters. The space will also include a museum, a theater, and a multi-purpose arena with a capacity of 40 people. The giant tower will be entirely dedicated to the commercial sector, and the expectation is that the price per square meter will be around R$ 10.

The concern of residents in the Santa Tereza neighborhood, one of the most important in Belo Horizonte and where the construction of the complex is being studied, is the transformation that the project may generate in local traffic. It is hoped that the city government and the companies involved in the project will be able to reconcile the development with improvements to urban transportation in the region.

Check out the article by the journalist. Paula Takahashi, from the newspaper State of Minas

Eighty-five floors spread across 350 meters in height, three and a half times larger than the JK complex, which for 40 years was the tallest building in Belo Horizonte. These megalomaniacal numbers, common in cities like Dubai, Tokyo, Hong Kong, and New York, could become part of the architectural landscape of the Minas Gerais capital. The Andradas Complex Project, by the engineering and architecture firm FarKasVölGyi, promises to bring to Minas Gerais the tallest skyscraper in Latin America, a title currently held by the 300-meter-high Trump Ocean Club International in Panama City. With it would also come architectural tourism, currently responsible for more than a third of Dubai's revenue in the United Arab Emirates.

The area with potential to house the new skyscraper – an English term used to define skyscrapers – is located along the Arrudas Boulevard, on a plot of approximately 85 square meters in front of the Boulevard Shopping mall. The municipal secretary of Development, Marcello Faulhaber, acknowledges that the project has already been presented to the city hall. “The idea is to carry out an urban development operation in this region, and the aforementioned land is being studied within the concept of the urban plan. Among the options for the use of the space is this project,” assures the secretary.

With a projected investment of R$ 2 billion, the architectural complex would include, in addition to the glass tower, a multi-purpose arena with a capacity for 40 people that, besides being a space for sporting events, would be able to host concerts and large congresses and fairs. An entertainment area of ​​40 square meters is also planned. “The proposal is to install Belo Horizonte's first IMAX cinema there. The site would also have a theater and museums, as well as an ice skating rink. Everything connected to the cultural scene,” explains Bernardo Farkasvölgyi, director of the architecture firm and creator of the project. In total, there would be 500 square meters of built area, with 10 parking spaces available.

The giant tower will be entirely commercial and will total 100 square meters of sales area, not divided into offices, but rather into continuous floors. "We are defining them as commercial floors, which can vary in area from 800 to 2,2 square meters," calculates Bernardo. The estimate is that each square meter will be sold for around R$ 10, via the direct market. In parallel, and still without cost estimates, would be the incorporation of the so-called "twin towers" (see background below) into the architectural project. "Both would be transformed into hotels, one three-star and the other five-star," says Bernardo. The pending legal issue regarding the eviction of the towers, however, prevents the two projects from proceeding simultaneously.

The big step to be taken now is to make the billion-dollar project economically and financially viable. “We are looking for investors,” says Bernardo. “Conversations are already well advanced with two foreign real estate funds. Within Brazil, two construction companies have already shown interest in the business,” adds the architect. The search for partners includes the Middle East, currently home to the world's tallest tower, the Burj Khalifa in Dubai, at 828 meters high. “What we really need is to secure the investors, which we expect to be between three and four. With that, we can give an important boost to making the project viable,” estimates the architect.

The intention is to finalize negotiations this year so that, by the beginning of 2013, the project can proceed to city hall approval. “It would still take at least another year for approval. With that, construction could begin in 2014,” estimates Bernardo. The total construction time is at least five years, therefore being completed before 2020. “The biggest limitation of the project today is the cost. It is a very expensive undertaking, with a very ambitious scope,” acknowledges Bernardo.

Marcello Faulhaber, the municipal secretary of Development, agrees that the major obstacle currently lies in the economic viability of the project. "When it was presented to us, the initial investor group didn't have the capacity to carry it out," he recalls. For Faulhaber, the importance of the complex is undeniable. "For the city, the need for an arena to hold events is unequivocal. Furthermore, from an architectural and tourist perspective, it would be a huge gain," he states. (Contributed by Pedro Rocha Franco)