Construction firm Capelli will be in charge of the project.

The residential district will be built next to the new tram tracks, a location where small businesses used to operate not too long ago. Now, 130 new apartments are set to bring back life to the area, and a few small shops, restaurants, and office spaces will also be installed.

The area spans 21,000 square metres.

In two years' time, the tram is expected to connect the new residential district with the rest of the city. According to project managers from Capelli, the firm invested a total of €200 million to finance the undertaking.