France: Zoku and Covivio have signed a management agreement for an aparthotel within the mixed-use Stream Building in the 17th arrondissement of Paris.
The Stream Building is scheduled for completion in summer 2022, with the Zoku property scheduled to open in the autumn. The site is being developed in partnership with Hines France and Assurances du Crédit Mutuel.
Offering 109 rooms, the Zoku hotel will feature a variety of communal living and coworking spaces. Amenities include a restaurant, bar, event space, and a 109 metre-square rooftop.
Marc Jongerius, co-founder and managing director at Zoku, said: “As from the start of the Reinventer Paris competition, Zoku was enthusiastic about the Stream Building: its mixed-use character, 24/7 vision and sustainable wooden structure all perfectly fit with Zoku’s core company values.
“We are excited to be partnering with Covivio, a strong real estate investor who is keeping the customer in the centre point of its attention. Zoku works closely with its target audience and puts people at the centre of its design. Especially in today’s world, where human connections have been limited for some time, this is paramount to deliver maximum value and relevance to our guests,” Jongerius added.
Christophe Kullmann, CEO at Covivio, said: “This transaction opens the way for a new partnership for Covivio with a particularly innovative brand such as Zoku, who will diversify our Parisian hotel offer. Zoku stands out for its hybrid positioning between a hotel and an office, a concept that is totally consistent with Stream Building’s ambitions to mix uses and spaces.
“Through this partnership, we continue to support the most dynamic hotel brands in their development in new territories, while contributing to the regeneration of the customer experience in Europe.”
The Stream Building is spread over 16,200 square-metres of floor space and across eight floors. Alongside the Zoku-operated hotel and social spaces, the scheme will provide offices and retail space, including a brasserie.
A mix of wood and concrete architecture has been used in the design, incorporating a rooftop vegetable garden with hop facade and solar panels. Once complete, Stream is aiming for high environmental certifications such as BREAAM Excellent, BBCA, HQE tertiary Exceptional, and more.
