Unbelievable Transformation of Hidden Parisian Landmark Unfolds at Active Construction Site, Open to Public Visits!
In the heart of Paris' 9th arrondissement, a significant construction project is underway, mere steps from the Grands Boulevards and Montmartre. This sight was chosen by Nicolas Kozubek, general director of Mipim, as the venue for the launch conference of a real estate fair taking place from March 11 to 15 in Cannes. The construction site is situated at 14 rue Bergère, where a massive 26,000 square meter building is being renovated. Initially constructed in 1880 to house the National Bill Discount Company, the building was later sold to LaSalle Investment Management in 2019, who has subsequently undertaken the renovation for an estimated 100 million euros.
This building, which dates back to the Belle Époque, was innovative in its design, featuring a suspended glass roof 17 meters high, a central heating system using steam, and a pneumatic mail delivery system. With such distinctive features, it stood out for its forward-thinking character during France's industrial and trade boom.
The renovated building will aim to accommodate modern office uses by being more accessible to the community. The ground floor will host a restaurant, bar, hotel, coworking space, and gym, which will also be open to the public. Completion of the project is scheduled for the first quarter of 2026, with construction work ongoing since 2023.
Despite some noise associated with the construction work, efforts are being made to accommodate residents and nearby institutions such as the music conservatory. Thomas Rousseau, general director of Bouygues Building Ile-de-France Private Renovation, has assured that the construction schedules are planned to align with the conservatory's. Furthermore, residents are encouraged to visit the construction site and learn more about the project.
Innovation within urban planning will also play a role in this transformation, with the city of Paris requiring a portion of designated housing under its recently adopted local urban plan, should a building permit be deposited today.
The average price per square meter in Paris currently stands at around 9,500 euros, making it increasingly difficult for residents, regardless of their socio-economic background, to afford living in the city. Lamia El Aaraje, deputy mayor of Paris in charge of urban planning, highlights this issue in light of ongoing efforts to attract talent and create a vibrant city center that also remains accessible to its inhabitants.
Sources: 1, 4, 5(For up-to-date information on potential large-scale renovation projects in Paris, consult official municipal planning portals or recent French real estate news outlets.)
With the renovation of the historic building set to be completed in 2026, public spaces such as a restaurant, bar, hotel, coworking space, and gym will be open, offering opportunities for investment and public engagement. Recognizing the expense of real-estate in Paris, the city administration is emphasizing the importance of scholarships to ensure the inclusion and accessibility of the city center for inhabitants across all socio-economic backgrounds.
