Earnings Release • Jun 16, 2016
Earnings Release
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June 16, 2016
Altarea Cogedim, in partnership with the architectural firm Valode & Pistre, won the tender organized by SARIVH (subsidiary of Caisse des Dépôts), for the assignment of the site previously used for the Orange Centre National d'Etude des Télécommunications (CNET) in Issy-les-Moulineaux.
©Valode & Pistre
This property complex will develop a genuine urban hub spread over 100,000 sqm designed around an urban parkland of 13 000 sqm, a 15,000 sqm new-generation retail offering, a digital creation center, 40,000 sqm of housing and 40,000 sqm of offices and public amenities including a school and an infant daycare center.
This exemplary new eco-district fully exploits digital technology to promote social interaction and harmonious community living. The "Cœur de Ville" project is an innovative response to presentday urban challenges.
The announcement was made by André SANTINI, former Minister, and Member of Parliament and Mayor of Issy-les-Moulineaux, in the presence of Pierre-René LEMAS, Chief Executive Officer of Caisse des Dépôts, at the presentation of the "Cœur de Ville" project and of Alain TARAVELLA, Chairman and Founder of Altarea Cogedim.
Characterized by its economic and demographic growth, Issy-les-Moulineaux (Hauts-de-Seine department, France) is a major city in Greater Paris. For several years now, the city, whose population has grown by more than 25% in 15 years, has been actively implementing a major projects policy. Issy-les-Moulineaux is now home to many businesses. In recognition of the city's vibrant economic life and innovation capacities, several recent studies* have ranked Issyles-Moulineaux among the top 5 French Smart Cities.
To participate in the city's ambitions to revamp and invigorate itself, Altarea Cogedim, backed by the architectural firm Valode & Pistre, will develop an innovative program tailored to today's new lifestyles. This mixed-use real estate project known as "Issy Cœur de Ville" addresses the development issues of Issy-les-Moulineaux while protecting the city's characteristic exceptional environment and quality of life. The project was prepared (as part of the local development plan) with the participation of all of the city's inhabitants - involved in the renovation of their space who wanted more housing, more shops, and the creation of green links and green walkways, in particular.
"Issy-les-Moulineaux is a city in constant movement, an evolving city that does not want to be passive, but fiercely seeks to imagine the future and make it happen! The new "Cœur de Ville" eco-district – the third after Fort and Les Bords-de-Seine – will become a vibrant hub for the entire city and will strengthen our urban cohesion," says André SANTINI, former Minister and Member of Parliament and Mayor of Issy-les-Moulineaux.
The 100,000 sqm new city neighborhood will be built on the former site for Orange's Centre National d'Etude des Télécommunications (CNET). The release of the land, owned by Caisse des Dépôts, represents a genuine opportunity for the city and its inhabitants.
"As a shareholder of SARIHV, Caisse des Dépôts, the owner of the site, is glad to see the fulfillment of such an impactful project for the city of Issy-les-Moulineaux. SARIHV has transferred this real estate asset to Altarea Cogedim, which will develop an ambitious mixeduse project to address urban planning challenges in the very heart of the city with 100,000 sqm of housing, shops and offices following the departure of Orange," explains Pierre-René LEMAS, Chief Executive Officer of Caisse des Dépôts.
The strategic location of "Cœur de Ville," in the heart of the city and more specifically, a stone's throw from Place Paul-Vaillant-Couturier and from the City Hall square, is a huge advantage. The site is served by efficient public transport networks from the Corentin Celton and Mairie d'Issy metro stations, which represent critical advantages for the program, as they were essential to the creation of this new central point inside the city.
The mixed-use project developed by Altarea Cogedim and its partners over more than 100,000sqm represents a total investment of €600 million. To limit disturbance from construction sites, the project will be carried out in a single phase.
"Our unique corporate model allows us to act as a partner to cities and metropolises, and is capable of creating and developing genuine city neighborhoods. Issy Cœur de Ville perfectly demonstrates this concept. Driven by the ambition that we share with the city of Issy-les-Moulineaux, we are offering an iconic mixed-use program of harmonious community life, combining city center housing, offices, retail space and high-quality digital and public areas. Thanks to our robust financial capacities, we are currently working on nine mixed-use projects throughout France, in Massy (91), Schiltigheim (67) and Bezons (95), three city neighborhoods under development. Issy Cœur de Ville constitutes a new major project implemented on behalf of the city of Issy-les-Moulineaux and its inhabitants, after that of Pont d'Issy, a new city gateway project," says Alain Taravella, Chairman and Founder of Altarea Cogedim.
"This project is an urban addition that genuinely brings fresh air into the city. The outdoor areas are landscaped, covered with trees and shrubs, and the buildings are situated and designed to create a very sunny city-center parkland," adds Denis Valode of the Valode & Pistre architectural firm.
In recognition of the changing profile of families and evolving housing codes, Altarea Cogedim will develop 40,000 sqm of smart housing in this project. This project will encapsulate the knowhow of the Cogedim brand in residential construction to address the new needs of inhabitants, while striving to best meet quality-of-life expectations.
The project also includes the development of around 40,000 sqm of positive energy offices. This tertiary component will enhance the metropolitan dimension of the district. The offering, tailored to a variety of needs, will offer areas adapted to the new, innovative ways of working, such as roaming or shared office space.
A genuine city neighborhood for all inhabitants of Issy-les-Moulineaux, the retail offering of "Cœur de Ville" will propose an original positioning developed around nature, innovation and the shopping experience. A broad mix of midmarket and upmarket retailers will exist around innovative concepts. It will be a place of experimentation for brands and retailers that seek to promote alternative ways of relating to their customers. This selection of stores will combine a local offering and services that meet the needs of the people of Issy-les-Moulineaux, as well as next-generation concepts capable of attracting visitors and inhabitants from a wider area around the city. Altarea Cogedim will build a walkway extending over 15,000 sqm and spanning the shopping center and city center main street, an offering that will sum up the new aspirations of city dwellers.
Three major themes illustrate this desire for synthesis:
Altarea Cogedim will be the sole operator of all stores present in "Cœur de Ville."
The new neighborhood will be a vibrant urban hub with a movie theater, a variety of restaurants as well as a digital creation center. The digital creation center will host the community of creation and innovation players based in Issy-les-Moulineaux and will boost the digital momentum that is already very strong in the city on the scale of Grand Paris. 300,000 visitors are expected annually on the site, which is equipped with digital art exhibition rooms and coworking spaces.
With organized events 100 days a year, "Coeur de Ville" will host a range of cultural and commercial events through a public program that will offer a unique experience to all visitors to the site, in collaboration with the city and organizations.
Designed as a genuine, fully pedestrianized "nature district," "Cœur de Ville" will host a mix of housing, offices and retail activities inside an urban parkland of 13,000 sqm. A meeting point between users, the public areas in the center of the parkland will play a crucial role in the project. They will be the key to the success of this new Living City.
Designed as shared spaces for everyone, the public areas will offer an ideal location where inhabitants can meet, engage in dialogue or hold cultural events. A mixed-use program geared toward comfort and services to its inhabitants, the project includes the creation of an infant daycare center with 60 cradles and a school with eight classrooms.
"Cœur de Ville" will be a pedestrian district dedicated entirely to environmentally friendly means of transportation.
While Issy-les-Moulineaux is particularly attentive to its environmental footprint, "Cœur de Ville" will focus on sustainable urban development and will be fully aligned with the city's corporate endeavors. Equipped with the first smart district network, Issy-les-Moulineaux takes advantage of digital technologies to pay particular attention to the energy use of its office buildings, housing units and public lighting. This system has won universal accolades and has allowed the city to rank among the top French "smart cities."
With this in mind, the "Cœur de Ville" project seeks to obtain NF-Habitat HQE® certification for its housing units, and BEPOS, NF HQE® Bâtiment tertiaire and BREEAM® certification for its office buildings. Shops will have to be BREEAM® certified, extended by an advanced environmental approach with all future stores. Furthermore, it will also seek to obtain the BiodiverCity® label in recognition of its efforts to protect biodiversity. Cœur d'Issy will be the first project in France to be WELL® certified at the district level in recognition of the project's health and well-being approach.
In order to improve the site's carbon balance and foster a circular economy, recycled materials will be used in the buildings and for the urban furniture.
The "Cœur de Ville" project has strong ambitions as a Smart District. Designed to be an area for living, eating, playing and working, the new district will be a smart oasis modeled on the city. A special "Cœur de Ville" application has been designed to facilitate interaction and exchange between the inhabitants through a neighborhood social network which encourages carpooling, public transport, services between neighbors such as the sharing of parking places, Autolib car sharing and more. This local application will also inform users about recommended initiatives to use less energy and generate less greenhouse gas.
A city with a recognized vibrant economy, Issy-les-Moulineaux is known for its determined, bold urban projects, stressing remarkable architecture, to better serve its population and territory. An innovative city, Issy-les-Moulineaux has demonstrated with its two eco-districts of Fort d'Issy and Bords de Seine, that digital technology can be leveraged to improve the quality of life for inhabitants and to make public services more efficient.
Contact Nadège Moreira
Media Relations Officer +33 (0)1 41 23 82 58 [email protected]
Caisse des Dépôts and its subsidiaries are a French State-owned group, long-term investor, focused on promoting public interest and the economic development of territories. Its mission was reconfirmed by the French modernization of the economy law of August 4, 2008. Recognized for its expertise in the management of mandates, the Group focuses its action on four strategic transitions for the long-term development of France: territorial, ecological and energy, digital and demographic transitions.
http://www.caissedesdepots.fr
Altarea Cogedim is a leading property group. As both a commercial land owner and developer, it operates in all three classes of property assets: retail, residential and offices. It has the know-how in each sector required to design, develop, commercialize and manage made-to-measure property products. With operations in France, Spain and Italy, Altarea Cogedim manages a shopping center property portfolio of €4.5 billion. Listed in compartment A of Euronext Paris, Altarea had a market capitalization of €2.3 billion at December 31, 2015.
Winner of the competition for the construction of a mixed-use complex at Bezons in May 2015, Altarea Cogedim and its partners will develop – over a 65,000 sqm area of the Cœur de Ville urban development zone – 700 housing units and 20,000 sqm of retail and leisure outlets, together with a public parking area for 600 cars. This mixed-use project addresses an urgent urban challenge for the municipality, endeavoring to reinvent its city center to foster better community living.
In March 2015, the first stone was laid at the construction site of the Place du Grand Ouest project, launching this ambitious plan for Grand Paris, developing an area of nearly 100,000 sqm. This mixed-use project includes the creation of a multiplex movie theater, 700 residences and 8,000 sqm of retail spaces including a food court, restaurants, a conference center, parking spaces and more. It also meets what French people expect for an "ideal district of tomorrow" as revealed by an IPSOS survey commissioned by Altarea Cogedim.
The redevelopment plan for the former Fischer brewery designed by Altarea Cogedim includes the revamping of the iconic malt house while retaining some architectural forms with heritage value. Ultimately, all the 61,700 sqm will constitute a genuine "city neighborhood," characterized by a diverse range of uses and functions. The project intends to combine retail space, public amenities, services, leisure and different types of housing: privately owned housing, rented social housing, housing for young professionals and intergenerational housing.
To develop the 140,000 sqm of the new Bordeaux Belvédère district, the largest development on the right bank of Bordeaux, EPA Euratlantique has selected the Altarea Cogedim project. The project plans to build, at the heart of the Bordeaux
metropolis, an innovative complex offering all residents a high quality of life. The goal is to make this district a great place to live by working on both the general spatial planning of the neighborhood along the river and on views and the landscape, optimizing the urban density and by integrating the transport networks imposed by the bridge and the railway.
Nathalie Bardin Director of Institutional Relations, Communications and Forward Planning +33 (0)1 56 26 25 53 / + 33 (0)6 85 26 15 29 [email protected]
Valérie Jardat Agence Côté Jardat +33 (0)1 41 05 94 10 / +33 (0)6 12 05 18 35 [email protected]
Founded in 1980 by its current managers, Denis Valode and Jean Pistre, VALODE & PISTRE is a leading French architectural firm that carries out projects worldwide. For Denis Valode and Jean Pistre, the architectural project is a social act focused on the user, an act of research and thought that makes every project unique, an act of creation anchored deeply in its surroundings. "We are mostly interested in creating buildings that could not have existed in any other place. This gives meaning and roots to the architectural gesture." This is why Valode & Pistre has surrounded its architectural activity with engineering, design and urban planning structures and has, in addition to its Paris head office, locations in Beijing, Shanghai, Moscow and Dubai. The firm has completed more than 150 projects worldwide, including the Grand Stade Pierre Mauroy stadium in Lille, the ENGIE Tower in La Défense, the Incity Tower in Lyon, the Ekaterinburg Hyatt Hotel, the Souks Leisure Center in Beirut, the Shenyang cultural center, the Air France head office in Roissy, Beaugrenelle and Bercy Village in Paris.
www.v-p.com / [email protected]
Marine Gillain Valode & Pistre architects T: +33 (0)1 53 63 22 00 F: +33 (0)1 53 63 22 09 [email protected]
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