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http://online.wsj.co...ON=wsjie/6month
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Notes --
1. Details for a master plan for a former railway site in Milan was announced on May 30, 2007. The $2.5 billion mixed-use project is part of a larger plan to redevelop the northern Italian city over the next five years.
2. The project, a 29-hectare development called the Garibaldi Repubblica, will link three areas of northern Milan: Garibaldi, Varasine, and Isola Lunette. It will feature 2.47 million sq. ft. of offices, apartments and a hotel. It will also include a new public park and city hall. There will also be a Città della Moda (fashion city) -- since the city is famous for design -- that will feature shops and a fashion museum.
2a. It is being designed by architect Cesar Pelli and developed by Houston developer Hines in conjunction with the municipality of Milan and the Lombardy regional authority -- which will both have new headquarters at the development.
3. Construction started in April and will be finished in eight years. Financing is coming from the Italian Developer Galotti SpA and Hine's European Development Fund. There are eight other architectural firms involved with the project.
3a. May 30 was also the day that Hines opened the Riccardo Catella Foundation center -- committed to "better cities and urban planning." It is named after Mr. Catella, the former head of Hines Italia who died in 2006.
4. Other large projects in the city include a $2 billion Milano Santa Giulia, a mixed-use project being built in the southeast part of the city.

Article information: "Milan Preps for Its Citywide Makeover, By SARA SEDDON KILBINGER, Wall-Street Journal, May 30, 2007"