Conversion of two historic Paris post offices will see two of the city’s beautiful buildings transformed into environmentally-friendly multi-purpose venues.
The first is the Louvre post office on rue du Louvre in the 1st arrondissement (district), built in 1888. The second is the rue la Boétie post office in the 8th arrondissement. It is a 1920s reconstruction of a Hausmannian building.
The innovative renovations are part of a project by La Poste, the French post office group. “This is a flagship operation on the basis of reclassifying and developing the La Poste group’s assets, taking account of changes in uses, respecting the heritage and history of La Poste and constantly maintaining the highest environmental standards,” explains Christian Cléret. He is the CEO of Poste Immo, the post office’s real estate operator.
Transformation of the Louvre Post
The Louvre post office is open seven days a week and 24 hours a day. It currently serves over 3,000 customers a day. A vast Hausmannian building, you’ll find it a short distance from the famous Louvre Museum. It is between the Place des Victoires and the famous Montorgueil market.
Its transformation is led by Dominique Perrault, the French architect world famous for his design of the French National Library.
Following the €200-million renovation project, the Louvre post office will become a mixed-use development. Three of its high-ceilinged floors will continue to serve for postal activities. The others are to be transformed into a luxury 80-room boutique hotel managed by Elegancia Hotels. This will have a panoramic terrace offering one of the most stunning views of the city.
There will also be a central green courtyard surrounded by restaurants, bars and shops. Alongside these, the building will house a police station, a daycare center, and co-worker office space. A green roof with a pergola incorporating renewable energy generation will help meet the building’s energy needs.
Work began in 2016 and is scheduled for completion in 2018. This renovation follows the full scale remodeling of nearby Les Halles that was completed in 2016. The neighboring Bourse de Commerce being transformed into an art museum is also predicting completion in 2018.
Impact on Real Estate Prices
The combined effect of these three major projects in the Les Halles quarter of the 1st arrondissement (district) is more than likely to have a positive impact on the value of real estate there.
Prices in the “Les Halles” neighborhood had dipped 4.3% over the last 5 years. However, 3rd quarter 2016 figures from the Chambre de Notaires de Paris (Chamber of Notaries of Paris) show them already trending up .9% over the previous year. Average net seller prices in the area are at 10,270€/m².
La Boétie Post Gets New Life
The beautiful five-story Boétie post office is on rue La Boétie. The street runs from rue d’Astorg to the avenue des Champs-Élysées. It too will continue to serve as a post office, but only on the ground floor.
Its upper floors are to be converted to office space. The whole building will have High Environmental Quality (HQE) certification. HQE is the standard for green building in France. It is based on the principles of sustainable development first set out at the 1992 Earth Summit. The building will re-open in May 2017.
What Effect on Real Estate Prices?
This portion of the 8th is across the Champs-Élysées from the Golden Triangle, one of Paris’ toniest areas. However, its own mix of residential and commercial buildings does not have the same luster. The renovation of this building will be a welcome boost to the street and the surrounding neighborhood.
The Boétie post office is located in the Faubourg du Roule quarter of the 8th arrondissement. Recent notarial figures show an average net seller price of 9,890 € in the area. This represents a .4% increase over the previous year.
Inspired Conversion of Two Historic Paris Post Offices
We at 56Paris Real Estate are delighted that the French Post Office is safeguarding the architectural history of Paris in both a practical and eco-friendly way.
The French capital has a high respect for historic preservation. These progressive projects will allow these two immense and beautiful buildings to preserve and showcase their iconic Parisian charm.
If you’d like to find out about buying a home in Paris, you can contact us here.
Photo credit – Erwmat