REDEVCO has started redevelopment of a prime retail/residential building located in Rue de Rivoli in Paris.
Three levels, from the basement to the first floor, will be turned into modern retail space totalling 2,000 m²; the units have been rented out to Jennyfer and Celio. On the second to sixth floors, 24 rental apartments will be built. A building near the construction site has been sold by REDEVCO Immobilière 3F in order to create 47 social housing apartments.
The project, in which REDEVCO has invested more than 40 million, is scheduled for completion at the end of the first quarter of 2010.
Jean-Christophe Bretxa, Managing Director of REDEVCO in France, launched the Seine Rivoli construction project by symbolically laying the first stone in the presence of Mr Jean-François Legaret, Mayor of the 1st arrondissement of Paris, Mr Jean-Yves Mano, Deputy Mayor of Paris in charge of housing, and Miss Seybah Dagoma, Deputy Assistant to the Mayor.
Jean-Christophe Bretxa comments: "Our intention is to create a modern building that also does justice to the original high-quality architecture. This major REDEVCO project represents another step in the regeneration and renewal of the "Samaritaine quarter" of Paris in which we have been present for more than 30 years."
REDEVCO has applied for BREEAM certification. This certification assesses the environmental performance of a building and ways to improve it. In early 2009, REDEVCO renovated the first C&A eco-store (in Mainz), which was certified "very good" by BREEAM.