real estate Florence

According to Monitor Immobiliare, the property on Via delle Mantellate in Florence, part of the Ricasoli fund managed by Kryalos Sgr, will soon house The Hoxton’s second Italian location. This development follows the successful launch of The Hoxton Rome in 2021, continuing the expansion of the English “open-house” hotel brand across Italy. Following extensive renovation work, the complex has been transformed into a boutique hotel featuring 161 rooms.

Paolo Bottelli, founder and CEO of Kryalos, stated: “The hotel industry continues to be a strategic asset class, especially in high-profile destinations like Florence, where international tourism drives constant demand for quality accommodations. We are excited to renew our collaboration with The Hoxton, after Rome, to breathe new life into this building, transforming it into a boutique hotel that combines contemporary hospitality with respect for the location’s history. The enhancement of iconic properties, preserving their identity and connection to the urban context, represents a fundamental principle in our investment approach.”

The arrival of The Hoxton in Florence underscores the continued appeal of Tuscany’s capital for international hospitality brands seeking to establish a presence in one of Italy’s most culturally significant and tourist-friendly cities. Located in a historic building on Via delle Mantellate, the hotel is poised to become a landmark destination for travelers seeking authentic yet contemporary accommodations in the heart of the Renaissance city.

Columbus International: Your Gateway to Premium Italian Real Estate

For investors seeking residential and commercial opportunities between the United States and Florence, the real estate agents at Columbus International represent an invaluable resource. Their deep knowledge of both markets positions them as the quintessential asset for international investors looking to navigate the complexities of cross-Atlantic real estate transactions.

Columbus International’s team of experienced professionals offers unparalleled expertise in the Florentine property market, providing investors with access to premium opportunities like The Hoxton project and other high-value developments in this historic city. Their comprehensive understanding of local regulations, market trends, and investment potential ensures that clients receive expert guidance throughout the entire acquisition process.

By bridging the gap between American investment capital and Florence’s prestigious real estate market, Columbus International continues to facilitate meaningful connections that benefit both investors and the local economy.

Key Highlights of Investing in Tuscany

Tuscany represents one of Italy’s most attractive regions for real estate investment, offering a unique combination of historical significance, natural beauty, and economic stability. Here are some key highlights for potential investors:

Strong Tourism Market

Tuscany attracts millions of visitors annually, making it an ideal location for hospitality investments. Cities like Florence, Siena, and Pisa maintain consistent tourism numbers throughout the year, ensuring steady income potential for hotel properties and short-term rentals.

Cultural Heritage Properties

The region offers unique opportunities to invest in historically significant buildings, many with protected status. These properties, like the one chosen by The Hoxton, often combine architectural importance with prime locations, making them excellent candidates for boutique hotels or luxury residential conversions.

Agricultural Estates and Vineyards

Tuscany’s renowned wine regions, including Chianti, Montalcino, and Montepulciano, present lucrative opportunities for agricultural investment. Vineyard estates combine income-generating potential with the prestige of owning iconic Tuscan landscapes.

Stable Property Values

Unlike more volatile markets, Tuscan real estate has demonstrated remarkable stability over time, with properties in prime locations consistently maintaining or increasing their value, even during economic downturns.

Renovation Opportunities

The region offers numerous historical properties ripe for restoration, allowing investors to create unique hospitality or residential spaces while preserving cultural heritage—often with available tax incentives for appropriate restoration work.

Expanding Infrastructure

Recent improvements in transportation networks, including high-speed rail connections and enhanced regional airports, have made Tuscany more accessible than ever, increasing property values in previously under-connected areas.

Columbus International’s agents specialize in identifying these premium investment opportunities throughout Tuscany, leveraging their extensive network and market knowledge to connect American investors with properties that align with their financial goals and personal preferences. Whether clients seek commercial ventures like The Hoxton’s expansion or residential properties in Florence’s historic center, Columbus International provides the expertise necessary to navigate Italy’s complex real estate landscape successfully.

Photo via The Hoxton / Instagram

From symbol of decay to prestigious hotel

The structure, which extends over 12,500 square meters distributed across nine floors (three of which are underground), will be managed by the American hotel chain Marriott International under the “W Hotel” brand. The building’s history dates back to 1926, when another hotel of the same name stood in its place. The current construction, designed by architect Lando Bartoli and commissioned by Banca Popolare di Novara, was built in 1972 and inaugurated the following year. The bank occupied only the first floor and basement levels, while the rest of the property was used for hotel activities.

After closing in 2009, the building went through a long period of decline: from the failure of sale negotiations in 2014, to an auction in 2015, until it became a site of illegal occupations despite the installation of fences in 2011. The turning point came with the final acquisition and the start of redevelopment work in March 2022.

The new project: contemporary luxury open to the city

“Between the end of April and early May, we will inaugurate 60% of the rooms, while in June we will open the entire hotel, which will have a decidedly contemporary character,” explains Roberto Puccini, sole administrator of Progetto Majestic. The facility will house 119 luxury rooms, areas dedicated to wellness, and spaces for fine dining.

One of the most innovative aspects of the project is the creation of an internal courtyard that will be directly connected to Piazza dell’Unità through fully glazed entrances, creating a harmonious integration between the hotel and the surrounding urban fabric. “It has been a long journey: we purchased the property in 2015 and obtained permits in 2021, but finally in June we will cut the ribbon. We thank all the public offices of the Municipality of Florence and hope that the redevelopment of Piazza dell’Unità will proceed quickly,” adds Puccini.

A gastronomic and cultural hub

The ground floor of the building will house a large living area and two high-level restaurants: Trattoria Contemporanea, an established Milanese brand, and Akira Back restaurant, specializing in refined Asian cuisine. A particularly evocative element will be the former bank vault, destined to be transformed into a multifunctional space for events and a contemporary art gallery.

The architectural intervention, overseen by project manager Niccolò Falleri and works director Stefano Boninsegna from Studio Gla, is inspired by a contemporary style that enhances the large common spaces and strengthens the connection between the hotel structure and the city.

Economic and employment impact

The project will also bring significant benefits in terms of employment: “We will hire 140 people in Florence, and currently 170 workers are working for us directly, 80% of whom are from the local area,” emphasizes Puccini. This highlights how the redevelopment represents not just an architectural recovery but also an important economic investment for the entire community.

The rebirth of Piazza dell’Unità

Parallel to the redevelopment of the former Majestic, the municipal administration has planned a significant restyling intervention for Piazza dell’Unità, an access point to the city for millions of visitors. “We have allocated one million seven hundred thousand euros, which is in addition to the private investment for the redevelopment of the area in front of the hotel. The project includes the renovation of the roadway, the planting of new trees, and the installation of seating. We will share and present it to the citizens soon,” states Andrea Giorgio, Councilor for Security and Mobility.

The goal is to transform what is essentially a transit space today into a true pedestrian “living room square,” with new trees and rest areas that invite residents and tourists to fully experience this renewed corner of Florence.

“This change marks the rebirth of a place that has for too long been a symbol of abandonment,” concludes Aldo Cursano, president of Confcommercio Florence and owner of Caffè Le Rose located right in Piazza dell’Unità. “We thank the Municipality of Florence for its commitment to carrying forward the square’s redevelopment project and entrepreneurs like Roberto who are investing their heart and soul in this transformation.”