French retail specialist Altarea Cogedim has announced two major mixed-use redevelopment projects in Paris and Marseille. In the French capital, the company is launching the redevelopment of the former Laennec hospital located in the seventh arrondissement.
French retail specialist Altarea Cogedim has announced two major mixed-use redevelopment projects in Paris and Marseille. In the French capital, the company is launching the redevelopment of the former Laennec hospital located in the seventh arrondissement.
On completion, the Paris 7 Rive Gauche scheme will include residential units, high-end offices, shopping facilities, student dormitories, and senior citizen housing facilities. The project, designed by architects Benjamin Mouton and Valode Pistre, will also include a green area of 14,000 m2. The Laennec hospital was vacated in 2000 and has since remained disused. Altarea said it will start with the demolition of the existing property in the summer.
In Marseille, Altarea Cogedim has begun construction of its Dieu hotel, which will be converted into a five-star InterContinental hotel. The 191-room asset is estimated to be completed by the end of 2012, involving a total investment of EUR 120 mln.
The project represents a partnership between Altarea Cogedim as the developer, Axa Real Estate as the main investor and hotel manager InterContinental.