The Palacio Ingrid, a historic building of Renaissance Italianate style located on Presidente Franco street in downtown Asunción, has been completely restored and is described by architect Jorge Fernández as an architectural "gem" of the Paraguayan capital.
Built probably in the first decade of the 20th century, the palace's style was introduced to Paraguay by Milanese architect Alejandro Ravizza, who was hired by Francisco S. López in Paris. After the War of the Triple Alliance, with European migration, especially of Italians, the style became established not only in Asunción but also in cities like Concepción, Villarrica, and Pilar.
The property, which in the past decade housed businesses such as a restaurant and the famous Central Bar, known as "the house of rock," was acquired by its current owner in December 2018. Motivated by a long-standing passion for restoring old structures, the owner, who preferred to remain anonymous, personally dedicated himself to designing the meticulous restoration.
The process required a lengthy administrative process with the Asunción Municipality, as the building is considered cultural heritage. Creative solutions were necessary, such as a suspended structure to avoid altering the protected facade and a new design to harmoniously integrate a double garage into the project.
The restoration was carried out by BCN Construcciones, the same company responsible for the Palmaroga hotel. Each roof tile was disassembled, numbered, treated, and replaced in its original position.
The owner, who visited Paraguay for the first time in 2017, believes that downtown Asunción has "enormous potential." With more than 200,000 people working in the area every day, he sees a significant future for the historic center. Currently, the luxurious Palacio Ingrid is planned to be an events center, residence, and meeting venue.