Banco Itaú has just purchased a 1,200 square meter plot of land on Avenida Paulista, next to Fiesp’s headquarters, where it intends to build a new tower to house its cultural center, currently in a building on the same avenue in São Paulo designed by Roberto Loeb.
The land alone, measuring 200 square meters more than the space of the current headquarters in the first blocks of the avenue, cost the bank’s coffers R$50 million. The total budget for the new project, however, was not announced by Itaú.
At the moment, a dozen architectural firms, all Brazilian, are preparing proposals for a competition launched by the bank to design the new headquarters of Itaú Cultural — Metro Arquitetos, the firm that designed the new Masp annex, the most recent and most controversial project to take shape in Paulista, is not participating in the competition.
The bank still does not know whether it will keep the current headquarters of Itaú Cultural in operation, but the institution’s directors say that it is possible for the two buildings, the current one and the new one, to operate together on Avenida Paulista. With this, São Paulo’s postcard address gains another cultural space, in addition to others such as Casa das Rosas, Japan House, Masp and Instituto Moreira Salles.
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