One of the most famous shopping centers in Paris, France, the La Samaritaine that was once the hub of luxury shopping and an apple of the eye of all fashion oriented Paris citizens, is now all set to undergo a complete revamp and renovation that is aimed at transforming this iconic structure into a luxury resort that would go by the name of Cheval Blanc, a luxury brand from the famous luxury-goods conglomerate, LVMH that already has its presence in Switzerland and Egypt. This massive renovation project that will take about three years to complete is expected to cost a whopping $641.9 million, where in the adjacent buildings will be consisted of housing offices, public apartments and shops.
La Samaritaine was once considered the holy grail of luxurious goods and was one of the most affluent and opulent of all shopping centers in the fashion capital of the world. However, as the building continued to be flagged for safety codes and other legal hassles, La Samaritaine was eventually shut down in the year 2005. However, as the current owners of La Samaritaine, LVMH and the city of Paris have now reconciled their differences, the ambition of converting the shopping center into a luxury resort is all set to begin from the year 2012 and is expected to be completed by the year 2014. As per LVMH, this massive project will span across 70,000-sq meter and will be able to generate as many as 2,500 jobs.
Via Hotel Chatter