The project centres on the historic Fábrica de São José, once part of the region’s fishing and canning industry, which has played a significant role in the local economy throughout the 20th century. Like many similar sites along the Algarve coast, the building has long since fallen into disuse as the industry declined.

Now, developer Carvoeiro Branco has announced a joint venture with construction firm Teixeira Pinto e Soares (TPS) to redevelop the site into a residential community of around 100 apartments.

The development will sit on a plot of roughly 7,000 square metres, with an existing structure of about 5,400 square metres. Plans indicate that the original building will be preserved where possible, with the aim of maintaining some of its architectural character while adapting it for modern use.

The site is located a short distance from Portimão’s historic centre, in an area that has seen increasing attention in recent years as demand for centrally located housing continues to grow.

While the project reflects ongoing investment in the region, it also highlights a broader trend. Across the Algarve, former industrial and maritime sites are being repurposed as residential or tourism-focused developments, as the economic role of the coastline continues to evolve.

In Portimão, the riverfront has gradually shifted away from its traditional uses. Where factories, warehouses and fishing infrastructure once dominated, there is now a growing mix of housing, leisure spaces and commercial projects.

Carvoeiro Branco says the development is intended to balance modern living with the site’s history, although full details of pricing, timelines and buyers have not yet been released.

For the company, the project represents a return to Portimão following previous developments in the area. For the city, it adds to a growing pipeline of construction that reflects both demand for housing and the continued transformation of its waterfront.

Whether developments like this succeed in preserving the character of these historic sites, or simply replace them, remains an open question. What is clear is that the Algarve’s coastline is still changing, just in a very different way than it once did.