Nucleus Office Parks, the real estate platform owned by global investment firm Blackstone’s Real Estate funds, has successfully redeveloped a one-mile stretch of street in Mumbai’s central business district and created safe pedestrian pathways and community spaces for residents to enjoy leisure activities. Recognised as one of the first public-private-partnership (PPP) upgrades in urban infrastructure, the One Green Mile streetscape project took place over 12 months.
Aditya Thackrey, Cabinet Minister of Tourism and Environment, Government of Maharashtra, said: “We are grateful for the support from Blackstone and Nucleus Office Parks in our efforts to redevelop one of Mumbai’s busiest streets into a safe and clean space for residents to commute and gather. It is encouraging to see the private sector step forward and collaborate with the local government and authorities to improve the city’s infrastructure.”
The mile-long stretch of road sitting at the junction between Dadar, Elphinstone, and Lower Parel in Mumbai’s central business district is a high-volume traffic area with more than one lakh commuters per day. Nucleus Office Parks has streamlined traffic and vehicle lanes by constructing two signals and one U-turn junction. The project also created 2.5 kilometers of pedestrian walkway and 2.5 kilometers of dedicated cycling tracks.
Over 100 trees spanning 1.5 acres of land have been planted and nearly 10,000 square feet of under-flyover space has been transformed into a community space for citizens, promoting local art and culture. Four community gathering spaces have been created including a library, children’s play zone, amphitheater, green aisle and other exercise and recreational zones making this an ‘Equal Street for All’.
Tuhin Parikh, Head of Real Estate, Blackstone India, said: “Blackstone has contributed to several initiatives to help build communities in India. Our Mumbai streetscape project helps make roads safer and more accessible. As one of the largest global investors in India, we are committed to working with local governments to build thriving communities that positively impact people and businesses.”
Quaiser Parvez, CEO, Nucleus Office Parks, said: “Nucleus Office Parks worked all through 2021 in upgrading one of Mumbai’s arterial streets into a world-class street benchmarking against global designs on streetscape, landscape, lighting and artwork. We are thrilled to hand over this enhanced street back to MCGM for smoother infrastructure management, running and upkeep. We hope Mumbaikars will appreciate and enjoy this transformation.
