France is transforming the 52-hectare Paris Olympic Village, which was planned for the 2024 Games, into residential flats. The complex is located in Seine-Saint-Denis, one of France's poorest districts, and consists of 12 residential buildings and an office block. Approximately 20% of the units are designated for social housing, with some reserved for students and low-income buyers through a bail reel solidaire plan. Prices approximate EUR 7,000 per square metre, with completion scheduled in late 2025. Developers, including Icade, hope to revitalise the region by selling or reserving 50 units by mid-July, as part of larger efforts to boost the local economy.
The Paris Olympic Village, which was initially designed for athletes competing in the 2024 Olympic Games, is being turned into residential flats for sale. The 52-hectare property, which includes the communes of Saint-Ouen-sur-Seine, Saint Denis, and Ile-Saint-Denis in Seine-Saint-Denis, one of France's poorest regions, aims to revitalise the northern Paris neighbourhood. The massive conversion project involves big French construction firms, which rely on the sale of the flats to ensure profitability.
The Olympic village, which is spread across 12 residential towers and one office complex, has flats ranging in size from six to ten storeys. The French government has set aside 20% of the homes for social housing and safeguarded extra flats for student accommodation. The municipality is also proposing a bail reel solidaire option, which allows low-income residents to own these flats through a leasehold property deal in which the municipality pays the ground rent. This project contributes to the region's overall reconstruction strategy by ensuring the inclusion of affordable homes. The village's location, which stands on a disused industrial site, initially prompted worries, but it is intended to improve the neighbourhood. Property prices in and around Paris remain high, with apartments in the Olympic Village costing an average of EUR 7,000 per square metre. For example, a large three-bedroom apartment of 100 square metres would cost roughly EUR 700,000, whilst a smaller 20-square-metre studio would cost around EUR 140,000.
Icade, one of the larger developers involved in the project, has listed 140 flats across three buildings, two of which are located along the banks of the Seine River. By mid-July, around 50 units had either been sold or reserved by buyers. Conversion work on the apartments is expected to be completed by late 2025, after which the first buyers can begin moving in. Renovation work includes demolishing temporary structures used to house athletes during the Games, such as walls and bathrooms. The temporary carpets put during the Olympics will also be removed. The purpose is to ensure that the flats are suitable for long-term residential usage, contributing to the general redevelopment of the area.
The Paris Olympic Village, initially built for the 2024 Olympics, is being converted into residential flats to rejuvenate the northern Paris neighbourhood of Seine-Saint-Denis. The project, involving major French construction firms, aims to offer affordable housing, including social housing and student accommodation, to promote inclusivity. Flats range from six to ten storeys, with prices averaging EUR 7,000 per square metre. Conversion work is expected to finish by late 2025, contributing to the area's redevelopment and providing new residential opportunities.
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