page_title: Polanco, Mexico City
section_title: History
hierarchical_section_title: Polanco, Mexico City / History
caption_attribution_description: 14 January 2008 Campos Eliseos Polanco
context_page_description: Polanco is an affluent neighborhood in the Miguel Hidalgo borough of Mexico City. Polanco is an upscale community, famed for its luxury shopping on Avenida Presidente Masaryk, one of the most expensive streets in the Americas, as well as for the numerous prominent cultural institutions located within the neighborhood, such as the Museo Soumaya and the Colección Jumex. Polanco is often called the "Beverly Hills of Mexico", having one of the country's densest concentrations of luxury shopping, with the most Michelin star restaurants, high-net-worth individuals, upscale hotels, and diplomatic missions and embassies. Additionally, it is one of the most desirable real estate markets in Latin America.
context_section_description: The colony takes its name from a river that crossed what is now the Avenue Campos Elisios (Champs Elysees), named in memory of the Spanish Jesuit Juan Alfonso de Polanco, a secretary of Ignatius of Loyola, whose relatives, members of the Polanco family, were members of board of the Kings of Spain in the 17th century and came to Mexico as officers of the Crown.
  In a plan made by Francisco Antonio Guerrero y Torres and dated 1784, a "ruined house Polanco" is located on the grounds of the Hacienda de San Juan de los Morales. This hacienda sits on land donated in the sixteenth century to Hernán Cortés by the King of Spain, under the jurisdiction of Tacuba. At the beginning of the colonial times, parts of this land (near the current center of the Hacienda) were occupied for planting mulberry trees for breeding silkworms (hence the name "los morales"). The hull of the Hacienda as currently known dates from the eighteenth century. Extension lands belonging to the estate began to be divided in the late 1920s.
  Polanco was developed in 1937 by the Aleman family, the same developers of Ciudad Satélite and San José Insurgentes districts, on the land that was originally the Hacienda de los Morales, just north of Molino del Rey town and Bosque de Chapultepec. The first area to be built is now called Polanco Reforma and lies just north of Paseo de la Reforma, the entrance to the new neighborhood marked by a tile obelisk facing Reforma. In those days, there were only mansions surrounded by gardens and tree lined streets.
  By the 1960s, the first department store arrived in the neighborhood, forever transforming the face of Polanco. In the 1970s, the last piece of land to be developed was sold, the triangle of Ejército Nacional, Ferrocarril de Cuernavaca and Periférico, where no stand-alone housing was built, only apartment buildings.
  The 1985 earthquake reshaped the city layout, and Polanco was no exception; restaurants, embassies, boutiques and corporate business slowly moved from Zona Rosa and found a great new home in Polanco. Big houses were torn down and replaced with new buildings. The former inhabitants typically moved to neighborhoods such as Bosques de las Lomas and Lomas de Tecamachalco.
  Today Polanco is facing a challenge. Land prices are some of the most expensive in the city, as zoning rules forbid skyscrapers in the area. There are few big mansions remaining which are protected by INBA, therefore large building projects cannot be undertaken like the ones in Lomas de Chapultepec, or Santa Fe, two areas which have an edge on attracting new inhabitants. Ruben Dario avenue, facing Chapultepec Park, and Campos Eliseos are two of the most expensive streets in Mexico City, with apartments ranging up to $15 million.
caption: Plaza Campos Eliseos in Polanco
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