Paris City Hall has issued a construction permit for Ivanhoé Cambridge’s Tours DUO development, which will include a pair of towers designed by architect Jean Nouvel in the French capital’s Rive Gauche district.
“Both because they are the work of one of France’s greatest living architects and because they meet a well-thought-out and concerted urban vision, the Tours DUO will add their mark to Paris’ status, which makes us very proud,” Meka Brunel, Ivanhoé Cambridge’s executive vice-president for Europe, said in a statement.
“Through this achievement, the Tours DUO will become a top business real estate destination.”
Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt et placement du Québec pension fund, is the lead developer and sole investor in the project. Hines is the associate developer, with Ateliers Jean Nouvel in charge of design.
Comparisons to Chicago and Toronto projects
DUO 1 will be 39 storeys and DUO 2 will be 27. Their goal is to help create a mixed neighbourhood in a former industrial area at the edge of the Seine River and alongside railway tracks. The developer compares it to the River Point project in Chicago and the Bay Park Centre project on Bay Street in Toronto, which are both led by Ivanhoé Cambridge and Hines and built over railway tracks.
The buildings will be smart, flexible and adaptable to new forms of management and work. Associated services, including concierges and a fitness centre, will be included.
Tours DUO’s office space will be augmented by: an eight-level hotel; a restaurant-bar with a panoramic view over Paris; a garden and green terraces; an auditorium; and neighbourhood shops. They’ll be served by a variety of public transit options.
A strong environmental requirement
Tours DUO will be built to achieve exceptional energy performance with LEED Platinum, HQE and Effinergie+ certifications.
Tours DUO is currently the only high-rise project in France with the WELL Building Standard, a label launched last October during Green Building Week. The label validates a real estate project’s compliance with new requirements in comfort, health and well-being at work.
Tours DUO is projected for 2020 delivery after meeting a pre-leasing minimum of 50 per cent of the available office space.
Through subsidiaries and partnerships, Ivanhoé Cambridge has direct or indirect interests in more than 160 million square feet of office, retail and logistics properties as well as in more than 23,000 multi-residential units. It held more than $48 billion in total assets as of June 30.