Grand Paris Aménagement has announced a series of measures. They should reduce the cost of housing by 6.75%.
Grand Paris Aménagement (GPA) has announced a series of measures aimed at revitalizing the production of housing in Île-de-France, which has been paralyzed by the deep economic crisis in the real estate sector. The developer of the Greater Paris Metropolitan Area, which claims “7 to 10% of the housing production in Île-de-France”, has promised that these measures will lower the cost of housing by 6.75%.
“We wanted to take our part to facilitate the act of building,” said the vice president of the region in charge of urban planning, Jean-Philippe Dugoin-Clément, during the Mipim global real estate exhibition in Cannes.
GPA’s partner developers will have to commit to passing on these savings to their selling prices, in order to reduce costs for residents. GPA intends to promote the “seability” of housing, meaning the possibility of transforming a large apartment (T5, five rooms) into two smaller ones (two or three rooms).
“Sleeping partners”
The developer also commits to limiting the project setup time to eight months and using off-site construction more often, which reduces the duration of on-site construction. It also plans a fund of 40 million euros to provide loans to developers allowing them to more easily commit to projects, in the form of a “sleeping partner” according to its CEO, Stephan de Faÿ.
Fewer developers will be approached for each project, in order to reduce the timelines and costs of processing application files. Grand Paris Aménagement, which currently applies environmental construction standards that are not yet mandatory, will not do the same when they become even more stringent, only complying with the schedule set by law.
“The economic situation today does not allow us to anticipate… unless we want to block the system,” supported Jean-Philippe Dugoin-Clément.
