Major Development Approval Just Granted Near the CBD

The city’s urban planning commission on Thursday evening gave its final approval to a €295 million mixed-use development set to transform the lower end of Avenue Jean Médecin, unlocking one of central Nice’s largest construction projects in over a decade.

This green light marks a pivotal moment for Nice’s construction pipeline at a time of acute housing pressure and ongoing debates over gentrification and infrastructure in the city’s historic centre. With property values surging—average apartment prices in central Nice rose 6.2% between April 2025 and April 2026, according to Meilleurs Agents—the project’s fate had been closely watched by residents and investors alike.

Prime Location, Big Plans

The new scheme, dubbed L’Odyssée Médecin by Lyon-based developer Nexalis, will occupy the long-vacant block between Rue de Suisse and Rue Paganini. The project comprises two 12-storey towers and a mid-rise podium featuring 420 apartments—30 percent of which are earmarked as affordable housing units. Retail galleries at street level will connect with the tramway stops at Gare Thiers and Jean Médecin, integrating the development with Nice’s busiest foot-traffic corridors.

"This site was a gap in the city’s stitching for decades," said an urban planner familiar with the dossier. City Hall’s approval comes after three years of public consultation and a last-minute design revision to address concerns about shading Castéu Park and overloading the Victor Hugo tram stop.

Supply Pressure Meets Urban Renewal

Data from OTIE Côte d’Azur show that Nice has issued construction permits for just 980 new homes city-wide in the past twelve months, well below the stated annual goal of 1,500 set out in the city’s Plan Local d’Urbanisme (PLU). At the same time, the city’s rental vacancy rate has dipped below 2.7%, pushing average asking rents in the Carré d’Or and Notre-Dame districts above €24 per square metre per month—among the highest outside Paris.

L’Odyssée Médecin’s supporters point to the need for both market-rate and regulated housing at the heart of the city, as well as new commercial options for the local retail sector. However, critics from the Comité de Sauvegarde du Centre-Ville have already announced plans to appeal aspects of the approval, especially around building heights and traffic mitigation.

Preliminary site clearance is now scheduled for late September, with full construction due to begin by January 2027. The developer expects first residential occupancy in early 2029. Prospective buyers can already register interest via Nexalis’s reservation portal, with price guidance for market-rate units starting at €9,400 per square metre. The city’s planning department says detailed traffic and noise mitigation plans will be released for public consultation in August.