Given his thrill-seeking nature, he naturally ended up deciding that Villarrica -- one of Chile's most active and dangerous volcanoes and aptly named "the Devil's House" by the Mapuche -- would be incorporated into his jump.
Leaping from a helicopter at more than 3,500 meters (almost 2.2 miles) in altitude, Álvarez would attempt to use the wingsuit to reach speeds of more than 280 km/h (about 176.5 mph) and then fly into and out of the 200-meter (656 feet) wide crater of the volcano.
"This is by far the most extreme project I've ever done," he says. "That's for sure. Especially because of all of the factors; it was an active volcano, it was at high altitude, cold, windy and so there were a lot of things that I needed to take care of.
Preparation for the jump took more than a year. Not only did Álvarez complete around 500 practice jumps, but he also had to make complex calculations using speed, distance and air pressure to decide whether or not it would even be possible.