Endowment project
Introduction
Caleido[4] or Torre Caleido is a 181-meter, 36-story skyscraper located next to the Cuatro Torres Business Area (CTBA) complex on Paseo de la Castellana (Madrid, Spain), hence it was popularly called Quinta Torre.[4] In March 2016, the definitive agreement was announced by which the Instituto de Empresa (IE) will occupy most of the new property.[5] Its construction began in April 2017[6] and it was scheduled to be completed in September 2020.[1] However, due to delays caused by the effects of the COVID-19 pandemic, the inauguration did not take place until October 19, 2021.[7][8].
The project takes advantage of the earthworks and foundation work already carried out for the failed International Convention Center of the City of Madrid. When construction was completed, it became the fifth tallest building in Madrid, and seventh in Spain.
The architecture studios Fenwick Iribarren and Serrano Suñer Arquitectura have designed the project and OHL Desarrollos is the main contractor in charge of executing its different phases.[5].
History
Contenido
En los terrenos donde ahora se asientan las cuatro torres del CTBA se encontraba la antigua Ciudad Deportiva del Real Madrid "Ciudad Deportiva del Real Madrid Club de Fútbol (1963)"), que fue demolida en 2004.[9] Entre 2004 y 2009 se construyeron la Torre Cepsa, Torre de Cristal, Torre Emperador Castellana y Torre PwC en la zona que linda al paseo de la Castellana. Sin embargo, quedaba otra parte, cercana a la avenida de Monforte de Lemos, con 33 325 m² de superficie y 70 000 m² de superficie edificable.[10].
Initial idea
Originally, the new International Convention Center of the City of Madrid (CICCM) was going to be built with a budget of 300 million euros.[11] The first stone was laid in 2008, two months after the bankruptcy of Lehman Brothers.[12] In 2009, the underground construction was awarded in a public tender to FCC and Acciona for a total of 72 million euros.[13] In 2010, it was decided that only this preliminary phase was going to be undertaken and the construction was going to be paralyzed while waiting for better times,[13] as a shock plan by the Madrid City Council under the command of Ruiz-Gallardón to control spending in the midst of the economic crisis "Spanish economic crisis (2008-2014)").[14] The project was paralyzed for several years, leaving a plot of land with the hole made for the foundation, with the problem that The containment and security works, based on attaching screens and anchors, had a useful life of two years.[15] A total of 110 million were invested without having built anything.[15].