Luxury Real Estate Project in Old Lyon Abandoned; New Rental Development Planned
Lyon, August 19, 2026 – The building at 27 Quai Romain-Rolland in Old Lyon, vacant for two years, is finally embarking on a new chapter. After an initial real estate program that envisioned the renovation and sale of its apartments to private investors was aborted, the property will now be offered for rent starting in 2028 by Compagnie Foncière Lyonnaise, a subsidiary of Crédit Agricole Centre-Est and the owner of the premises.
The new face of this residential building, dating back to 1830, will be significantly different from what was initially planned with the luxurious “Hérès” program, promoted by developers from the Lyon region.
“It was far too expensive”
The initial building permit, issued at the end of 2022, provided for the rehabilitation of the premises and the transformation of the 23 existing apartments into “33 dwellings with the following typology: 5 T1, 20 T2, and 8 T3,” according to information from the City of Lyon. However, a 40 m² apartment, “fully renovated and rehabilitated,” would have cost no less than 489,000 euros, or more than 12,000 euros per square meter. “It was far too expensive. It simply didn’t sell,” a neighbor confided to us.
Compagnie Foncière Lyonnaise Takes Over
In 2025, facing the program’s failure, Compagnie Foncière Lyonnaise decided to “take over the project,” “keep its asset,” and “transform it” to simply offer it for rent. “I can’t tell you why the project didn’t go through at the time. But the real estate crisis was what it was, and many projects didn’t materialize,” explained Marc Balas, the new president of the company, somewhat evasively.
Reduced Number of Apartments with Larger Typologies
A new “amended” building permit has therefore been issued to reduce the number of initially planned dwellings from 33 to 20, “with the following typology: 7 T2, 3 T3, 8 T4, 1 T5, and 1 T6.” “We will carry out a total refurbishment of the building, the roof, and the glass roof. We will replace the elevator, bring the dwellings up to environmental and energy standards, and renovate them,” summarized the president. All of this, of course, is subject to the approval of “the Architects of Bâtiments de France,” given the site’s inscription on the UNESCO World Heritage list.
Work to Begin in October, Delivery in 2028
According to our exclusive information, the work concerning 27 Quai Romain-Rolland is expected to begin in October 2026 and last 18 months, with renovated housing delivered in 2028. “It’s a very beautiful project, we are very proud of it, and it will be rented according to market rental prices in Lyon,” promised Marc Balas.
The EML Pianos store, located on the ground floor of the building for 30 years, should also be able to remain in place, as the conservation of the commercial lease is planned.
Source: actu.fr
