ACTION LOGEMENT - ONV

Promoter – Financial Intermediary

OPERATEUR NATIONAL DE VENTE

Location

• France

Description

The project will enable French social housing entities (SHEs) to build about 80,000 new units and upgrade about 32,000 existing social housing units. The EIB will support the refurbishment and the improvement of the energy efficiency of the social housings acquired.

Objectives

The Project will: i) enable to increase the provision of social housing, by leveraging new social housing construction through the sale of existing social units to be sold by SHEs to the Opérateur Nationale de Vente (ONV), a new entity founded and fully owned by Action Logement Services. The sale will concern in particular high demand areas for which there are long waiting lists due to lack of provision by the private sector, compensating also the decrease of public financing support to the housing sector due to fiscal constraints; ii) support social housing refurbishment needs and energy efficiency improvement; iii) promote mixed tenure, with an appropriate mix between social tenants and private owners, socially and environmentally sustainable neighbourhoods in areas where the public sector managed process of sale of housing takes place, including in deprived areas.

Sector(s)

• Urban development - Construction

Proposed EIB finance (Approximate amount)

EUR 150 million

Total cost (Approximate amount)

EUR 304 million

Environmental aspects

The refurbishment of existing social housing units will not only benefit low-income households, by reducing their energy bills, but also the environment, by reducing greenhouse gas emissions. The project will therefore have a positive impact on the achievement of national energy efficiency targets. The competent authority will have to determine whether each subproject (i.e. the refurbishment of housing units located in the same building) is subject to a full Environmental Impact Assessment (EIA) procedure according to the EIA Directive 2014/52/EU amending the EIA Directive 2011/92/EU. Further details on the screening decision, the environmental permitting status, the proximity and potential impact of each subproject to natural conservation areas, according to the Habitats and Birds Directives (92/43/EEC and 2009/147/EC respectively) and on other aspects of the environmental impact assessment will be clarified during the appraisal. However, as the Project consists in refurbishment of existing social housing units, it is unlikely to have major impact on environment.

Procurement

The EIB will require the ONV to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/24/EU, where applicable, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Status

Approved - 14/11/2019