Catella Residential Investment Management (CRIM) has acquired an Elithis energy-positive residential tower in Clermont-Ferrand, France, for around €29 million.
It contains 91 apartments and has an attached low-rise building. Sales of the surplus energy to the national grid will provide a bonus to residents according to how sustainably they manage their homes through a proptech app.
The holistic concept designed by the French sustainable engineering specialist Elithis Groupe at standard market construction costs includes bioclimatic design, high energy efficiency, on-site energy production and tenant’s energy coaching.
The savings will also allow more affordable housing costs compared with similar traditional properties in the neighbourhood.
The property will be low in operational carbon and is 2050-ready according to the CRREM 1.5° pathway.
World-leading energy-positive buildings
Xavier Jongen, Managing Director at Catella Residential Investment Management, says, “The latest Elithis development acquisition is the second Elithis project development on behalf of this institutional mandate, after the earlier investment in a similar property in Dijon. It is part of an ambitious Catella programme for our institutional investors that is bringing these world-leading energy-positive buildings to cities across France.
“The unique linking of sustainability to affordability in the cutting-edge technological design means we can simultaneously address the two great challenges of our time in the energy transition to fight climate change and the affordable housing supply crisis, without affecting investment returns. Everybody wins in this formula, residents, investors and the planet, and it should be the standard sustainable and societal benchmark for all residential investments.”
The asset will have communal social spaces and parking for 62 cars.
Renewable energy is produced through a combination of photovoltaic panels on the roof and facades and from biomass from waste wooden pallets.
The ‘positive-energy primary balance’ is calculated by taking into account the generation of renewable energy compared with the consumption of non-renewable energy.
Proptech app
The bioclimate environment of the apartments is managed partly through automation, for example through light-sensitive shutters, and by residents through the proptech app, which provides data for temperature control and education on energy efficiency, as well as updates on cost savings and bonus payment accumulation.
The development is in the St. Jean district of Clermont Ferrand around two kilometres from the city centre. It is close to the railway station, which is a five-minute walk away, providing a two-hour connection to Lyon, France’s third-largest city with its national train connections and international air links.
Clermont-Ferrand has a population of around 147,000, with 45% of people under 30 years old. The city is home to numerous students, who make up about a quarter of the population, due to its high-ranking University Clermont Auvergne.
Thierry Bievre, Président of Elithis Groupe, says “With the launch of this emblematic project for the City of Clermont Ferrand, Elithis is signing its 7th project, the 5th in a row with its partner Catella Residential Investment Management. These two positive energy towers located on a commercial complex, are neighbours with a 38 housing units building signed with the social landlord ASSEMBLIA. We are proud to carry the ambition of our group and of this exemplary partnership even higher and stronger, especially at this time when inflation could lead our decision-makers to choose between ecology and household purchasing power.
“With this project we combine the two and prove that ‘positive energy will soon be accessible to all’, with an exemplary building in terms of the environment and a saving on the energy bill for a household of around 2000 euros a year in relation to the measured national average.
Co-partnership
The project is carried out in co-partnership with the Lyonnais real estate developer Wyho.
The buyer was assisted by BeReal Investment Management. BeReal will also be responsible for the asset management of the residential tower.
CRIM is a subsidiary of the Stockholm-based Catella Group and its residential property business includes portfolio management advice, acquisitions and disposals as well as asset management. CRIM manages and advises several funds and mandates with assets under management of over €7billion in 10 European countries.
Based in Dijon, France, Elithis Groupe is a French building engineering consultancy and real estate development company. A pioneer in low carbon footprint and energy-positive buildings, Elithis ranks among the leading players in the fields of building consulting engineering, sustainability, energy, carbon, and environmental efficiency.
With more than 25 years of experience, over 100 employees, and 2,500 projects, Elithis has a long track record in supporting construction and real estate companies with sustainable, competitive, and innovative solutions, bringing a holistic approach and guaranteeing increased energy savings on their building and renovation projects.
