The SRU law was not everywhere fulfilled its role

Since his rapprochement with Solendi, 3F holds approximately 5 of the national park of housing co-OPERATIVES, or 200,000 social housing, including 130,000 in Ile-de-France. It is the most important social landlord of France.

That you brought the approximation with Solendi

3F only has a single shareholder, Solendi. This clarifies the strategy and accelerate the decision-making process. Our shareholder is a collector of the 1 housing, he knows the needs of businesses and their employees. Build a common strategy, in the same group, allows us to paste the needs in our construction and housing allocation policies. We also gain a national dimension, which allows us to accompany the professional mobility of our tenants... or their desires. For example, I asked that they join 2011 the notice of rent a mail informing our placements tenants that we have a park on the other hand. If we have 5 of our tenants, for example, retirees who choose to leave in the province, in the West or the South, it is as much to seats released in Ile-de-France. It can also be an economical choice for retirees: in the province, rents are at least 20 lower for the same category of social housing...

What was your pace of construction in 2010 and will maintain you in 2011

We have developed starts approximately 6,000 units this year, including 1,100 for the ex-parc of Solendi. The share of 3F breaks down in 700 places in homes for young workers and students, 3,000 family housing in the Ile-de-France and 1,200 in the province. We could build 10 to 15 more in Ile de France without the growing delay in subsidies from local authorities. We anticipate at least as many starts in 2011, or even more, 10 to 20 by increasing our resources by implementing for sale part of our park tenants in place.

What balance are you getting existing housing sales, very controversial

5 of our fleet are put on sale, we signed 850 promises of sale in 2010 and more than 1,100 with Solendi. This compared to about 4,000 sales in 2009 for the whole of the World Council. We will increase our sales in 2011 goals of at least 20, and the part of the park for sale will rise to 6, or 7. Despite the opposition of some, I am convinced of the effectiveness of the formula to finance new construction. This year, our cash flow (the difference between the collected rents and repayment of the debt) was about 110 million and the proceeds of sales of 70 million, 60 million of net capital gain. In Ile-de-France, the sale of one of our housing releases specific funds to build more than three, since our average value appears at 80,000 euros per sold Council of Ile-de-France housing, while construction costs on average 20,000 euros of own funds, or 10 of our average cost of construction (180.000 euros land included).

The SRU law was not everywhere fulfilled its role. What do you think

In most cases, even in tense rental areas, including the Ile-de-France, the main obstacle to the construction of social housing is not the lack of land in itself: it is the lack of developed land. With its economic model, 3F could double its housing starts in the Ile-de-France for passing 3,000 to 6,000 new homes per year if the development of the land currently available was made. That said, the SRU law was very positive, it has generated awareness among mayors and we allowed to go in areas we were absent as Mennecy (Essonne) or marne-la - Coquette.