Paragon buys into Piretti SA
Paragon acquired a property in 2013 on 750 sqm of land located in the heart of the city of Geneva, more precisely in Plainpalais. A lengthy permit process was undertaken and at the end of 2014, a building permit was issued to build 930 gross square meters.
Currently on the site exists one of the original structures from the time when Plainpalais was still considered farm land on the outskirts of Geneva. The property was used for the operations of the renovation company Paul Piretti SA which has existed since 1863. When Paragon and its partners bought Piretti, the company had already moved to Aire, in order to free up this parcel for redevelopment.
Paragon purchased the entity with the intention of redoing the permit in order to add rentable square meters. The well-known architect firm, DVK, was hired to revamp the project and successfully acquired the building permit in 2014 which allows us to build 930 gross square meters or 770 rentable square meters.
