A multi-million dollar real estate project was approved this morning by the Environmental Assessment Commission in Puchuncaví, in the Valparaíso region. The project, “Maratué de Puchuncaví Urban Housing Development,” is led by the Leria family, and its Environmental Impact Assessment (EIA) was approved by the authority.
The initiative is substantial. It envisions more than 14,000 homes over a 45-year period, with an estimated investment exceeding US$2 billion. Its approval was decided by a split vote.
Specifically, it is located between the towns of Maitencillo to the north and Horcón to the south, in an area known as the former Quirilluca Estate. The cliff and beach of the same name are located in this area.
Before its approval, the project faced resistance. After a favorable Environmental Qualification Resolution (RCA) in mid-2019, opponents of the initiative appealed to the Environmental Court of Santiago and succeeded in overturning the decision.
Finally, in June of last year, the Supreme Court gave the project the green light. And in July of this year, the real estate company submitted its addendum to the Environmental Assessment Service (SEA), following the observations of the Committee of Ministers.
The project includes approximately 125 hectares of a conservation area as its main compensatory measure, among other areas, contributing to compliance with this recommendation, according to information from the SEA.