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Swiss Prime Site to pick up Geneva site for mixed-use development

Swiss Prime Site AG is purchasing a 5,170-square-meter site next to the Lancy railway station in Geneva for an undisclosed price, on which it plans to construct a "services-oriented," 15-floor building.

The developer has already received the formal go-ahead to regenerate the Esplanade 4 plot, with general construction permit expected to be secured for the site in 2018, according to a release. Construction is anticipated to be completed in 2023, following the opening of the new Lancy Pont-Rouge station in December.

The Lancy Pont-Rouge station marks the first stage of construction for the large-scale Praille-Acacias-Vernets project in Geneva, which will culminate in a new city district spanning 260 hectares of urban space, with a projected 50,000 people residing and working within the district in the next two decades.

The Esplanade 4 site can accommodate roughly 30,000 square meters of rentable space, which will go toward the development of a new mixed-use urban development.