Mayor criticizes abandoned renovation plan

The mayor of Paris, Emmanuel Grégoire, has criticized the decision to abandon an 800 million euro renovation project for the Montparnasse Tower, calling it an "insult" to himself and the residents of the Montparnasse neighborhood. He warned that the co-owners of the building would face "consequences" for not proceeding with the plan.

Project abandoned after meeting

The 800 million euro project was definitively abandoned following a general meeting on September 23, 2026. The syndical council had previously considered a simpler and cheaper alternative, estimated at 400 million euros, which some co-owners now favor.

Mayor insists on original plan

Grégoire expressed his frustration in an interview with Ouest-France on October 18, 2026. He emphasized the need to follow through on the original plan, citing a building permit issued in 2029, which the city of Paris and the police prefecture had worked on for over a decade.

No public funding involved

Despite the fact that the Montparnasse Tower is a completely private building and will not receive any public funding, Grégoire insisted that abandoning the project would have "consequences." His comments align with those of Philippe Goujon, the mayor of the 15th arrondissement, who suggested some co-owners may have alternative projects in Paris.

Focus on major co-owners

Grégoire and local officials have specifically targeted large institutional co-owners, including Lfpi, Mgen, and Axa. Lfpi, the largest co-owner with 28% of the shares, halted the project in late July due to financial constraints.

Challenges with property exchanges

The project faces significant challenges, particularly with property exchanges needed to develop a hotel in the intermediate floors owned by Lfpi. These exchanges have proven difficult due to repeated changes in ownership of the 43rd floor, which is associated with singer Vianney.

Co-owners prefer modest plan

Currently, most co-owners support a more modest renovation plan that allows them to retain their current properties. This approach would avoid the complex lot exchanges and ensure that everyone can remain in their homes.