Co-owners Reject Major Renovation Plan for Montparnasse Tower in Paris

Co-owners of a 210m building in southern Paris rejected a major renovation project during a vote held on September 23rd. The plan, which was under consideration since 2015, involved transforming the structure into a glass tower featuring garden terraces, a hotel, and shops. The rejection concerned the first phase of work, which included asbestos removal and partial facade removal.

The defeated plan was valued at €800 million. The co-owners, which include various French investment funds and insurers, were at a crossroads regarding the building's future. A less ambitious renovation project, including asbestos removal, may still be considered for the structure.