François de Mazières, deputy Mayor of Versailles, has endorsed the sale of the Versailles-Chantiers land on Friday, December 9, 2016. Nexity and Unibail-Rodamco have purchased the land for the development of a mixed-use project.
This sale completes the negotiations initiated by François de Mazières following his election in 2008.
Unlike the old shopping centre project coupled with a multiplex built on a large concrete slab, the new project is refocused on a mixed use format. It is a mixed-use development comprising of an office block, retail on street level (22,300 m2) and a residential block with services for social and family housing, student, senior residence and a nursery (21,200 m2), designed by Christian and Elizabeth de Portzamparc.
Through better utilisation of land, the overall cost of the operation for the city of Versailles is heavily reduced from €47m (2008 value) to €20m.
The development is set to begin in January 2017 and expected to be completed in Q1 2019.
