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Architect Nouvel Stops La Défense Tower

PARIS-The $773.6 million tower was nixed due to the real estate crisis.

By Allan Saunderson | Updated on March 24, 2010

PARIS-French architect Jean Nouvel has stopped plans to build the Signal Tower in La Défense after failing to attract investors, according to Joëlle Ceccaldi-Raynaud, the incoming president of the Paris business quarter’s management company EPAD.

Nouvel said in a letter he has not scrapped the project altogether but said the “real estate crisis is such that all current large-scale development projects are running behind. Investors who are financing these projects are not planning to build immediately.” However in two or three years, the project could once again become attractive for investors.

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