Sion: Investor for "Cour de Gare" construction project has been found
CSA Real Estate Switzerland, an investment group of Credit Suisse Investment Foundation, signed the land contracts for the "Cour de Gare" construction project in Sion (VS) on September 29, 2017.
According to Credit Suisse, the transfer of ownership will take place on December 31, 2017. Eight mixed-use buildings are to be built on the 17,100-square-meter site directly next to the train station in the Valais cantonal capital of Sion by the end of 2022. CSA Real Estate Switzerland is investing over CHF 200 million in the "Cour de Gare" project. Around 300 apartments will be created, taking up almost half of the usable floor space of over 40,000 sqm. Offices, retail space, a hotel and a concert and congress hall with 565 seats will occupy the rest of the floor space. In addition, an underground parking garage with around 600 parking spaces is planned.
Project development by the city, SBB and Comptoir Immobilier
The project is the result of an international urban planning and architectural competition, followed by a neighborhood plan. The project will also incorporate the campus of the University of Applied Sciences of Western Switzerland (HES-SO) and the École polytechnique fédérale de Lausanne (EPFL). The site consists of three parcels acquired by the investment group from SBB, the city of Sion and Cour de Gare Sion SA. The campus, which is located alongside the railroad tracks, will in future be directly connected to the "Cour de Gare" development via a newly constructed passage.
The project was developed by the city of Sion, the SBB and the company Cour de Gare Sion SA in collaboration with CI Conseils, a division of Comptoir Immobilier SA, which in turn specializes in monitoring real estate projects. Cour de Gare Sion SA is the general contractor responsible for the development. Comptoir Immobilier is responsible for marketing and technical management.
Start of construction targeted for 2019
The site is located directly at the Sion train station and thus "at one of the most important transport hubs in the Valais with excellent connections to the domestic and international rail network," as Serge Stalder, Head of Real Estate Rights SBB, points out. The purchase is part of the legally binding neighborhood plan. The building application is to be submitted in the first quarter of 2018. If the building permit is granted as expected at the beginning of 2019, construction work can begin in the third quarter of the same year and is expected to be completed by the end of 2022.
