Overview
- The developers announced plans for a Simon Hotel on the block bounded by Godoy Cruz, Costa Rica and El Salvador with roughly 500 rooms and 35,000–38,000 m² of built area.
- The land that housed Bodegas López has been purchased and a preliminary design by Bodas Miani y Asociados calls for ground plus seven floors and three underground levels with about 300 parking spaces and an event hall.
- The financing vehicle, structured with Grupo Balanz as a closed‑end investment fund, closed an initial placement of about US$32–33 million and is preparing a second fundraising round for November 2026 to raise another US$40–50 million.
- Developers say construction is targeted to begin in the first quarter of 2027 with an estimated build time of two-and-a-half to three years once work starts, and chef Fernando Trocca will curate the hotel's gastronomic offering.
- Backers frame the project as a way to fill a supply gap in Palermo and to tie into planned city works that extend Costa Rica toward Juan B. Justo and create new public spaces, which could boost local tourism, retail and street life.