Developer Breaks Ground on 28-Story Torre Alba in Mexico City

Construction crews broke ground this week on Torre Alba, a 28-story apartment high-rise slated to go up at the corner of Avenida Chapultepec and Monterrey in Colonia Roma Norte. According to permits filed with the Secretaría de Desarrollo Urbano y Vivienda (SEDUVI), the new building will bring 246 new apartments to an area that has seen surging demand for centrally located homes in recent years.

The arrival of a major tower in Roma comes as rents and purchase prices in central Mexico City continue to climb, squeezing middle-class families and newcomers alike. CDMX’s average sales price sits at nearly MXN 55,000 per square meter, according to data from Propiedades.com, with even higher rates in Polanco and Lomas de Chapultepec. Developers argue that adding residential stock in well-connected neighborhoods could stabilize prices. But some local advocates worry about traffic congestion, infrastructure stress, and the potential loss of Roma’s historic character.

High-Rise Arrives in an Iconic District

Roma Norte’s leafy streets and historic architecture have made it one of the city’s most coveted addresses, particularly since the restaurant boom around Álvaro Obregón and Plaza Río de Janeiro. Torre Alba sits within a five-minute walk from the Glorieta de los Insurgentes metro station, just blocks from major commercial arteries such as Calle Jalapa and the Mercado Roma food hall. The site, formerly a parking lot, has long attracted developer interest; Torre Alba’s permit was secured after a contentious public consult in December 2025, according to records from the Alcaldía Cuauhtémoc.

“Location means everything here,” said a local property analyst with ties to Canadevi Valle de México, the region’s housing industry chamber, who pointed to easily walkable blocks and proximity to major transit lines as selling points. Recent projects nearby include Condominio Rubén Darío in Polanco, where luxury units have commanded prices over MXN 92,000 per sqm. In contrast, developers behind Torre Alba say entry-level apartments will start at MXN 6 million for a 70-square-meter unit-a price still well above the citywide median.

Will New Supply Cool Prices?

Rising interest rates and a wave of in-migration from other Mexican states and abroad continue to drive demand. The 2026 Urban Planning Office report estimates the central districts-Juárez, Condesa, Doctores, and Roma-added just 1,300 new homes in 2025, despite a population gain of over 19,000 in those areas last year. Rents in Roma Norte averaged MXN 32,000 per month for a two-bedroom apartment this spring, nearly double typical rates on the outskirts of Iztapalapa or Tlalpan according to Inmuebles24 data.

City planners, including officials at SEDUVI, argue that increasing residential density near Metro and Metrobús hubs can help alleviate urban sprawl, reduce commuting times, and partially relieve upward price pressure. But critics at Patrimonio Roma, a neighborhood preservation association, warn that overstretched sewer lines, chronic water shortages, and disappearing local storefronts risk changing Roma’s character irreversibly.

With construction expected to finish by September 2027, neighbors will be monitoring next steps closely. The project’s developers have pledged to contribute MXN 14 million to the city’s Social Infrastructure Fund, including support for sidewalk repairs along Avenida Chapultepec and new green space on Plaza Luis Cabrera. Those considering buying or renting in central CDMX should keep a close eye on planning announcements and reserve lists over the next 12 months. As new towers rise, experts agree, the question won’t just be how high we build-but how cities like Mexico City ensure housing is both accessible and livable for all.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.