Start of construction for Quai Vernets in Geneva
The new quarter on the banks of the Arve River will provide over a thousand apartments, offices and a school campus. Losinger Marazzi is building the project on behalf of eight investors.
Where the Les Vernets military barracks used to be, the new Quai Vernets neighborhood is being built, the first development in the canton of Geneva to be certified as a 2,000-watt site. Losinger Marazzi is now starting construction on behalf of eight investors. The company describes the quarter as a "showcase project in terms of circular economy and reuse": 20,000 tons of concrete would be crushed from the old barracks and reused. The value of the contract, it says, is CHF 482 million.
There will be 1,355 apartments in the new neighborhood, two-thirds of them social housing and one-third rent-controlled apartments. In addition, there will be premises for social economy activities as well as pedestrian zones and landscaped public areas. There will also be an office complex and a school campus. The redevelopment of the former barracks site and the banks of the Arve River is part of Geneva's comprehensive urban development project Praille Acacias Vernets (PAV).
A group of companies led by Losinger Marazzi and Pillet SA is responsible for the development, financing, and construction and operation of Quai Vernets. It is made up of public and private companies as well as cooperatives. In addition to Losinger Marazzi and Pillet, these are Swiss Life AG, the Foundation of the City of Geneva for Social Housing (FVGLS), the Cooperative for Associated Housing (CODHA), the Geneva Housing Cooperative (SCHG), the Geneva State Pension Fund (CPEG), the insurance company Mobilière Suisse, the inter-company pension fund (CIEPP) and the Housing Cooperative for Persons in Education (CIGUE).
According to Losinger Marazzi, the large-scale development will be completed in stages between 2026 and 2027. (ah)
