A three-part mission: Pre-empt, Control and Reclassify
– Foster urban renewal by transforming properties into ready-to-use developable tracts of land;
– Manage, provide financing and aid in the cleanup of properties designated as waste sites.
Forge urban strategy working with municipalities based on precise scopes, timelines and EPF Ile-de-France financial commitments, using targeted preintervention studies designed to analyze the urban territory in terms of its possibilities and potential projects.
Acquisition. Acquire urban tracts either through amicable sale or municipally-approved eminent domain, far in advance of their private development or changes in zoning laws.
Land carrying. For the entire holding period required to lay out plans, EPF Ile-de-France will cleanup, develop and furnish acquired properties as ready for construction. The latter will be 90% already built-out and revenues from their short-term leases will be deducted from the sale price.
No Bids. In order to fight real estate price inflation, private developers will not be chosen based on competitive bids but rather for the nature of the projects they are proposing. EPF Ile-de-France is also tasked with forming longterm, 10+ year real estate preserves, in particular surrounding the Grand Paris train stations.
Non-profit Sales. In order to generate lower sales comps and counter speculation, urban tracts sales will be made exclusively at-cost and with no value added reimbursements.