The new Station F tech incubator in Paris is the world’s largest. It opened in June 2017 and will enable thousands of start-ups to launch.
Preserving Parisian history
Once a 1920s railway storage depot, Station F is now a state of the art start-up hub. It is just one example of urban renewal taking place in the city.
A step forward for business in Paris
At 34km², Station F, also known as la Halle Freyssinet, is sizable. It signals a move away from the traditional incubator locations like Silicon Valley and London.
The director of Station F, Roxanne Varza, told Wired why many start-ups made the move. “Brexit, Donald Trump and high Silicon Valley prices are what encouraged them to look at Paris and Station F.”
It will be “a flagship for the Parisian digital economy,” claims Jean-Louis Missika, the deputy mayor.
What did the Station F tech incubator in Paris cost?
The opening of the Station F tech incubator in Paris was not cheap. Xavier Niel, the founder of French telecommunications company Free, provided the €250 million necessary. Niel is also funding a housing project in the Parisian suburb of Evry. This could become home to those who their start-ups at Station F.
Station F itself provides all the necessary requirements for start-ups and more. There are over 3000 workstations, 60 meeting rooms, a large auditorium and a ‘fablab’ with 3D printers. Amenities include restaurants and bars open 24 hours a day, and even showers.
Effect on surrounding property values
One consequence of the opening of Station F is a likely increase in property prices in the area. The La Gare quarter of the 13th district is home to the tech incubator. The Chambre des Notaires de Paris (Paris Chamber of Notaries) show average current prices of 7,120€/m².
Exceptional properties in the area already sell for much more. A turnkey loft apartment with skylights and two patios is currently for sale at 13,720€/m². The 925 sq. ft. property offers 2 bedrooms, 2 baths and 2 WCs.
This figure is well above the neighborhood average. However, it remains below that for desirable properties in central Paris. We recommend the area surrounding Station F to smart investors. It offers an opportunity with solid growth potential.
The opening of Station F highlights Paris’ determination to preserve its historic buildings while putting these buildings to good use. Find out more about Station F.
If you would like more information about the value of Paris’ historic buildings, or to find one for yourself, you can contact 56Paris for more information.