Miguel Hidalgo revamps Parque Jaime Torres Bodet with mitigation funds

The borough of Miguel Hidalgo in Mexico City handed over the renovated Parque Jaime Torres Bodet, together with repaired sidewalks, new ramps and safe pedestrian crossings in the Lomas de Chapultepec area. The improvements were financed entirely with mitigation resources obtained from the BBVA México office‑tower development on Reforma 505, for which developer Grupo SOMA fulfilled its obligations.

Officials highlighted that the project incurred no expense for the municipal budget and illustrated how transparent, private‑public cooperation can turn real‑estate development into public‑space benefits. The mayor, Mauricio Tabe, praised the approach, noting that “development is positive when mitigation resources are applied clearly and transparently to maximize public works.”