Paris authority seeking concessionaire for US$2.4 billion Gastronomy City

Paris authority seeking concessionaire for US$2.4 billion Gastronomy City

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The Paris-Rungis Gastronomy City Association (Syndicat cité gastronomie Paris-Rungis) has published a tender notice for a concession to construct and operate of a City of Gastronomy and implement an annexed real estate program. The estimated value of the concession is EUR2.084 billion (US$2.38 billion).

The City of Gastronomy is planned to comprise a cultural exhibition and innovation centre (approximately 3,300m2); a training centre to host events and gastronomy-related seminars with meeting rooms, workshop rooms, an auditorium and kitchen facilities (3700m2); and commercial spaces for diversified catering options, including both street food and gourmet restaurants, and gastronomy-related stores, selling items such cookbooks and tableware, with a focus on sustainability (3,400m2). 

These facilities will connected by an open, covered walkway of about 3,000m2, freely accessible during the day or during public events in the evening. There will also be about 400 light-duty vehicle parking spaces and about 5 spaces for tourist buses on site.

The concessionaire's responsibilities include the design, financing, construction, maintenance, commercial operation and management of the City, including its public services. The entire complex is planned to span 10,400m2

In addition to the City, the concessionaire will deliver various real estate amenities on parcels of land surrounding the project site. The amenities include a hotel or hotel complex of about 150 rooms and accommodation for apprentices and students in training of about 170 rooms and small apartments.

35-40,000m2 space can be developed as the concessionaire proposes, though suggested uses are offices, economic, touristic, cultural and vocational activities. The concessionaire is also expected to create attractive public pedestrian spaces, large enough to function as meeting spaces for the community, and additional parking facilities.

The length of the concession contract will be between 49 and 59 years. The design-build period is set at four years, as the City, hotel and accommodation facilities must be completed by 1 July 2024, so as to be ready for the 2024 Olympic Games. Other amenities must be completed by 2030 at the latest.

The submission deadline is 26 November. For more information, see the Business Opportunity.

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