LyrArc Article Gist
Henri Specht, Director of the Olympic Village, walks along newly installed boardwalk along the river Seine and sees how the Olympics will turn an industrial bank into a pedestrian walk area.This approach  has not been taken before and shows the French have taken the courage to try something new. The French government and organizers have built the Olympic Village in one of France's poorest suburbs along the river Seine in northeast of Paris to give it a jolt and revitalize the area. Carbon emissions will be cut in half using new technologies and it will be kept cool without airconditioning. Each of the 40 low rise tower blocks will provide housing for 14,000 people for Olympics and another 9000 for Paralympics. This a 52 acre project with housing for athletes to provide housing for residents, a new Aquatic Center, and other facilities to increase its potential for regeneration. Training facilities for employment are added in with high unemployment of about 20%.  

Will it work? It was home to car and steel factories that have now closed as manufacturing went overseas. In 1998 the Stade de France stadium was built here to revive the area. Institut Montaigne says poverty will not disappear. The mayor says new housing is being delivered to change our image and improve the social balance in the city. In the neighboring town of St Oen the mayor has attracted $400 million euro investment for new housing. Tesla is putting its French headquarters in St. Oen. For the village about two thirds of the budget of 2 billion euros ($2.2 billion) comes from private real estate companies and one third from the French  government 646 million euros. After the games a third of the 2800 apartments in the Olympic Village will be sold to private owners, one third to go to public housing, and one third for rentals to students and others.