On 13 September 2007 REDEVCO France signed an agreement with the Sud Ouest Group to acquire a property complex of 25,000 m² located in the historic heart of Bordeaux. The site occupies one hectare of land bordering the Rue Sainte Catherine. Total investment in the project will exceed €100 million. The completed development will add to REDEVCO's property portfolio in France, currently valued at over €1 billion.
The site once housed the printing plant for the Sud Ouest newspaper, which has continued to maintain its editorial and administrative offices there. Once the newspaper moves its offices to a new space currently under construction in La Bastide, on the opposite bank of the Garonne from Bordeaux, REDEVCO plans to transform the industrial site, preserving and enhancing its historic buildings and constructing a scheme that will include over 10,000 m² of residential space and a 15,000-m² open-air shopping center. The development will face onto a square (the future Place Sainte-Catherine), destined to become a new neighbourhood gathering place and events site.
REDEVCO has decided to design and develop this complex as an ecodistrict, minimizing its environmental impact in accordance with the High Environmental Quality standard. The project will be designed by Françoise-Hélène Jourda, an urban designer specializing in green architecture, and the Bordeaux architects Jean-Bernard Lacrouts and Philippe Massicault.
In developing this large-scale project, REDEVCO, which has had a presence in Bordeaux since 1984, will be joined by the residential real estate developer Nexity, the social housing operator Domofrance and the Thierry Oldak Group.
Jean-Christophe Bretxa, REDEVCO's Managing Director in France, says, "In acquiring this property, REDEVCO is reaffirming its ambition to expand its portfolio of new commercial and residential projects in city centers, while adhering to the principles of sustainable development."
According to Didier Piot, Secretary General of the Sud Ouest Group, "We chose REDEVCO in particular because of the quality of its project proposal. Their intention to design a scheme that would have the least possible impact on the environment played a major role in our decision; its scheme will be of long-term benefit to Bordeaux's historic center.