Stream Building
Stream: Pioneering Sustainable Innovation
The Stream Building is the result of 15 years of research by architectural firm PCA-STREAM. Winner of the “Réinventer Paris” competition in 2015, the mixed-use space includes 25% of services open to the public, 25% accommodation and 50% workplaces.
Designed as a resource building, the 16,200-square-meter, 39-floor building houses a range of amenities such as a brewery, sandwich parlor, salad bar, and two grocery stores, catering to the diverse requirements of the local community. The Stream Building is adjacent to Paris’ Boulevard Périphérique ring road, the new high court and the new metro station. All have transformed the “Zone”—the urban edge of Paris into an appealing destination.
ESG Ambition in Action
The Stream Building was designed to be an ongoing experimental and revolutionary project combining sustainable design, vibrant urban living, and community engagement with continuous improvement and innovation.
The Stream Building stands as a pioneering example of sustainable construction. Its mixed timber-concrete structure optimizes its carbon footprint, and an ambitious prefabrication system enables a rapid and minimally disruptive construction process. The modular structural grid fosters reversibility, allowing for future conversions of office spaces into residential units and vice versa without requiring major structural transformations. This adaptability ensures that the building can evolve along with the changing needs of the community.
On its rooftop, the Stream Building displays an innovative approach to urban agriculture. Collaborating with the startup Topager, the building incorporates over 300 m² of chemical-free urban agriculture alongside nearly 400 m² of photovoltaic panels. This productive rooftop garden yields fresh produce, which is cultivated based on meetings between the market gardener and the building's restaurants. By embracing agrivoltaics, a practice that combines agricultural activities with solar energy production, the building mitigates the heat island effect, absorbs rainwater, and contributes to a short and efficient food supply chain.
The Stream building has become a vital hub of activity, seamlessly blending environmental consciousness with social responsibility. Utilizing Fluicity, a civic engagement platform, the development team uncovered neighborhood needs to inform the building's uses. Moreover, the "solidarity hub" named Cinaspic, managed in collaboration with the City of Paris, exemplifies the building's commitment to hosting neighborhood organizations and supporting local residents excluded from the workforce.
Covivio and Hines France are committed to conducting annual reviews over the next decade to assess the building's performance and integrate feedback on implemented innovations. This long-term commitment to research and development sets the stage for future advancements in sustainable architecture.
Investment Outcomes
As a proof of the project’s sustainable qualities, the offices were 100% pre-leased six months before delivery of the building. OVH-cloud chose to lease the entire office space for nine years, occupying only 60% and subletting the remaining 40%.
In addition, in the face of the COVID pandemic, the hotel operator chose to arbitrate in favor of this project on account of its environmental and architectural qualities and gave up its other Parisian project.
Disclaimer
Case Study is for illustrative purposes, and there is no guarantee that future investments will achieve the same results.
The content herein is provided for informational purposes only. The content should not be relied upon as a basis for making an investment decision and is not an offer of advisory services or an offer to invest in any product or asset class. It should not be assumed that any investment in an asset class described herein will be profitable. Any opinions expressed in these materials are subject to change without notice. Opinions or beliefs expressed in these materials may differ or be contrary to opinions expressed by others. Certain information above and in the report has been obtained from third-party sources. Hines has not independently verified such information.