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Icade: two "landscape buildings" and a green bond

Two buildings exemplary in terms of sustainable development are part of the project jointly led by Emerige and Icade, which was chosen by the RATP group as part of the extensive restructuring and development programme for Ateliers Vaugirard in Paris. At the same time, Icade has successfully completed the issue of its first green bond for €600mn.

Property & housing
05September2017

Two exemplary buildings in terms of sustainable development

 

Un des 2 futurs immeubles des Ateliers Vaugirard
The restructuring of the Ateliers Vaugirard site (designed in 1910 as workshops for the maintenance of metro line 12 trains) managed by the RATP group is an operational example of innovative mixed urban development. This industrial and real estate project will result in a new neighbourhood in the heart of the 15th arrondissement in Paris. The project, which is being led by Emerige and Icade, involves the construction of two private real estate developments of 133 housing units, business premises, and a childcare centre.

 

The first building, designed primarily for families, will contain suspended gardens and terraces, in addition to urban agriculture spaces on the roofs. It will also be home to local food businesses and a childcare centre on the ground floor. The second building, built on top of the maintenance warehouses following the RATP's superposition and mixed development principles, will contain housing units with outdoor spaces of around 30% of their surface area.

 

The omnipresence of greenery in the two buildings and the outdoor areas is in line with the Objectif 100 hectares (100 hectare goal) charter of the City of Paris(1) signed by the RATP. The project, which is aiming for the BiodiverCity certification label, is fully in line with the Governmental Energie-Carbone (Carbon Energy) certification label as a pilot project.

 

Inaugural issue of a Green Bond

Ecologie
On 4 September, Icade issued its first Green Bonds(2) worth €600mn, with a maturity of 10 years and an annual coupon of 1.5%. Issued with a margin of 80 basis points above the reference rate and oversubscribed nearly 3 times, this issue has met with great success among both French and international Socially Responsible Investors (SRIs).

 

The funds will finance or refinance assets and projects of the Foncière Tertiaire (offices and business parks) respecting the demanding and transparent eligibility criteria regarding sustainable development and social responsibility.

 

(1) This charter has also been signed by 3 bodies of the Caisse des Dépôts group: CDC Biodiversité, Efidis and Adoma (SNI Group).

(2) Caisse des Dépôts issued its 1st Green Bonds on 22 February 2017

 

 

 

 

 

 

 

 

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