Founded in 1554 on a plateau in the interior of Brazil, São Paulo became, over four centuries later, the most populous and economically relevant city in South America — with 11.45 million inhabitants, an area of 1,521 sq km, and a GDP of R$ 1.06 trillion. One of the world's great capitals.

The city center is where everything began. The coffee production cycle of the 19th century transformed what was a small colonial settlement into a hub of commerce, finance, and housing. Vertical growth started in the 1910s and gathered momentum in the following decades — by the 1940s and 1950s, the city center had a feel of an European capital, where everything was within walking distance.

This prominence lasted until the 1970s, when São Paulo's first master plan opened the way for an urban expansion modeled on Brasília — recently inaugurated and a symbol of modernity. Greater land availability, buildings with setbacks, parking spaces, and modern floor plans began to dictate the city's pace, as new axes emerged — first around Avenida Paulista, then Faria Lima, Juscelino Kubitschek, and Berrini.

As the city grew, the city center gradually lost density, use and residents. The 2022 Census recorded 58,700 vacant units — 20.7% of the dwellings in the central area — alongside a large inventory of underutilized commercial buildings.

Revitalizing historic centers is one of the greatest ambitions of every global capital and São Paulo is no different. The combination of a rich and underexplored real estate heritage, growing housing demand, and a maturing retrofit market creates a singular moment, one where architecture, location, and quality of life converge into an opportunity the city is beginning to rediscover.