Le Coin de Val - Val d’Isère Redevelopment16 June
For the first time since skiing became a modern day, easily accessible pastime, a large part of one of the French Alps’ mature ski resorts is undergoing a complete redevelopment. Over the next five years, a €200m regeneration programme is taking place in the central ‘Le Coin’ area of Val d’Isère, creating a new shopping district, world-class hotels, a bus station, additional ski infrastructure, leisure & après ski facilities and a series of residential properties.
Over the past five years we've helped developers across the Val d'Isère create new residential and commercial properties that hit the sweet spot in the market. For this new redevelopment we’ve worked with members of the development team from the start, even before the tender phase and now as the project enters its most important part – working with the local businesses and owners – the plans are really taking shape.
This will breathe life back in to some of the more dated parts of the village.
Even the French Alps’ prettiest resorts succumbed to a little bit of the forced planning and development of the 70’s and 80’s, as resorts tried to quickly create accommodation and commercial enterprise to cater for the ski tourism boom. Val d’Isère was one example.
Called ‘Le Coin de Val’, this substantial redevelopment project is being designed to bring life back to one of the village’s more recent collection of buildings, which were built over the last 30 years or so. From the roundabout which connects Avenue Olympique, Val d’Isère’s main thoroughfare, and Rue du Parcs des Sports, the home to Dick’s Tea bar and, around 15,000 sqm of space will be created from the existing land and buildings. This will include two hotels (4* standard) along with the other commercial and residential spaces.
Outside of the obvious benefits to the resort’s economy through the adding of around 900 beds, the aesthetic of this part of the resort will be greatly improved, with no large buildings planned and everything to be created in line with the oldest parts of the village.
Le Coin de Val
· Two 3+/4* hotels
· Shopping district
· Bus station
· Restaurants & bars
· Tourism centre
· Residential properties
These plans will create a vibrant new pedestrian centre and lots of shops and facilities, but it will also bring many opportunities for real estate investors, within a market that rarely has new-build opportunities.
It’s the first opportunity of its kind in decades and will probably be the last too.
On average only one or two buildings are redeveloped each year in Val d’Isère, creating around 15-20 properties and when they go live they sell very quickly. Last year we sold 9 out of 10 of one new collection in just a few weeks, such is the demand. The new residential apartments that are part of Le Coin de Val will be the first opportunity to own this type of property since the resort really took shape decades ago. It will probably be the last too. This demand will also be intensified by the fact that the properties will be serviced by the hotels and will also have their own leisure facilities.