The LP Promotion group turns to rehabilitation and launches its dedicated subsidiary: Version Pierre

In line with sustainable growth, the developer aims to contribute to the preservation of heritage, the revitalization of city centers, the highlighting of know-how and the decarbonization of housing. Version Pierre thus embodies the Group's commitment to preserving the environment and meets its ambition to reinvent urban spaces for future generations, by mixing the old with the contemporary.

A response to the problems of the real estate market in France

A sluggish real estate market, rising interest rates, difficulties in issuing building permits... The world of real estate development is facing major challenges that are shaking up the profession today and requiring it to reinvent itself.

In response to these issues, the LP Promotion group is demonstrating resilience and adaptation by turning more towards a promising business that is anchored in its DNA: rehabilitation. Thus, the developer, now present in Occitanie, Île-de-France, Nouvelle-Aquitaine, Auvergne-Rhône-Alpes and Pays de la Loire, is creating a subsidiary dedicated to this activity: Version Pierre. In addition to adapting to the paradigm shift that the market is experiencing, the subsidiary provides a response to the challenges of municipal elected officials who sometimes struggle to find a future for certain urban sites whose demolition would be neither suitable nor desirable.

Historical know-how of the LP Promotion group

The LP Promotion group is today rolling out its new strategic plan focused on diversifying its activities. With this in mind, the developer is continuing its development by delving into its history and drawing on its expertise: rehabilitation. Indeed, the company has always carried out numerous projects in complete or partial rehabilitation. The Group's teams have had this technical expertise and know-how for many years (Integrated Design Office, Works Department). Version Pierre will benefit from these skills and a team of dedicated experts.

For Pierre Aoun, General Manager of the LP Promotion group: "We are moving towards a logical continuity of our history by relying on our achievements and our solid know-how. By creating this subsidiary, we wish to contribute to the preservation of heritage, the revitalization of city centers, the highlighting of know-how and the decarbonization of housing."

LP Promotion teams have already completed several projects such as the Confluence seniors' residence in Montereau-Fault-Yonne, which is currently under construction. A former Hôtel Dieu transformed into a service residence that required a certain level of technical expertise (asbestos removal, lead removal, cleaning to preserve the external envelope, but above all demolition and the creation of new floors).

Smart rehabilitation: enhancing existing assets and revitalizing city centers

Through this subsidiary, the LP Promotion group is committed to enhancing existing heritage by prioritizing the rehabilitation of old buildings rather than a demolition/reconstruction approach. An approach resolutely focused on the heritage and history of the places but also on a net reduction of the carbon footprint. The company thus strives to combine the old and the modern, while responding to contemporary challenges.

Beyond its rehabilitation approach, the subsidiary adopts an approach of beautification and enhancement of architectural and historical heritage in order to preserve the identities and souls of the sites. Thus, it is also dedicated to the beautification of spaces, with an emphasis on improving facades, renovating decorative elements and developing green spaces. This approach allows the public and future owners to rediscover the history of a place but also to benefit from a better quality of life.

Version Pierre also aims to revitalize city centers by proposing the rehabilitation of brownfield sites in sometimes neglected or less dynamic neighborhoods. This is the case, in particular, of the rehabilitation of the Halles Amouroux (a project carried out in co-promotion with Nexity), former railway halls, renovated into craft halls and housing. Located in a residential and unattractive neighborhood of Toulouse, the project aims to give this site a soul but also to revitalize its environment with the support of a resolutely original project.

Low-carbon rehabilitation: renovating old buildings while meeting the challenges of our society

The creation of the subsidiary is in line with the Group's CSR approach, which became a Mission-Driven Company in 2023. Through its creation, LP Promotion places the low-carbon impact of buildings at the heart of its strategy. Its ambitions are based on three pillars: a strong environmental strategy, decarbonizing operations and integrating nature into the project.

Thus, all Version Pierre rehabilitation projects are designed around its ambitions in favor of the ecological transition. This involves decarbonizing old buildings by implementing a bioclimatic approach to renovation and going beyond the new environmental standards for housing. The subsidiary thus strives to:

• Minimize the energy needs of the premises;
• Analyze the life cycle of materials and the overall impact of the project;
• Use bio-sourced or reused materials;
• Collaborate with local businesses and artisans (short circuit).

In addition, in order to integrate nature into its renovations, the subsidiary calls upon an ecologist and a landscaper for operations involving an exterior to be enhanced. This approach aims to guarantee the comfort of future residents but also to preserve nature in the city, an important issue for French cities.

For Pierre Aoun, General Manager of the LP Promotion group: “Version Pierre embodies our commitment to sustainable development that respects our architectural heritage. This initiative aims to revitalize city centers by transforming neglected spaces into lively and attractive areas, while preserving the authenticity of the buildings. By adopting low-carbon construction practices and collaborating with local artisans, Version Pierre works towards a harmonious integration of modernity and history, thus responding to the ecological challenges of our time. We are convinced that Version Pierre will embody a model for the future of sustainable urban development.”