Caisse des Dépôts committed for the upgrading of Bas-Clichy co-ownerships

On 7 July, Caisse des Dépôts signed the agreement for the implementation of the upgrading operation in Bas-Clichy co-ownerships in the presence of Sylvia Pinel, the Minister of Housing, the Equality of Territories and Rural Life, and Myriam El Khomri, the Secretary of State for Urban Affairs.

Territory developmentProperty & housingBanking services and consignments

The Bas-Clichy district of Clichy-sous-Bois in Seine-Saint-Denis suffers from serious urban, health and social problems. One of its most striking features over recent years has been the worsening state of the high-rise estates of which it is largely composed. A massive programme of works on the two huge estates of Chêne Pointu and Etoile du Chêne Pointu (a total of 1,500 homes) will begin in autumn 2015.

The programme will be carried out as an Operation of National Interest* (OIN) for the requalification of the blocks (Orcod-IN), in view of the urgent need for repair work on the buildings, but also the need to draw up an overall urban project for the area. This will be the first operation of its kind in France.

The agreement signed on 7 July with the partners involved in the OIN sets out the means under common law and the exceptional means to be deployed in order to create a new, sustainable city centre in Clichy-sous-Bois. It forms the contractual basis for the partnership entered into by the State and its operators, the city of Clichy-sous-Bois, Clichy-Montfermeil urban community, Ile-de-France Region, the   public land institution for Ile-de-France ( EPFIF – the operator appointed to implement the Orcod-IN),Seine-Saint-Denis department and Caisse des Dépôts.

The project will involve a massive public purchase of co-ownership units, prior to either demolition, acquisition by social landlords for improvement or restoration/rehabilitation for those homes that can continue in private ownership.

Under the new agreement, Caisse des Dépôts will join forces with public operators to provide loans out of savings funds:

  • the city of Clichy-sous-Bois will find the advance funding necessary to cover the residual cost of emergency work that remains unpaid by defaulting co-owners;
  • EPFIF will handle the acquisition and rehabilitation of units. The volume of lending involved could represent several million euros, depending on which assumptions are adopted.

Caisse des Dépôts will also continue to provide its services in the fields of housing, urban renovation and investment.


* An Operation of National Interest (OIN) is an urban development programme subject to special legal dispensation in view of its considerable importance. The State retains control over urban development policy in such areas. In an OIN, it is the State and not the local authority that issues land use authorisations and, in particular, planning permission for building. Similarly, it is the Prefect and not the local authority that decides on the creation of a concerted development zone (ZAC) within an OIN.

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