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LVMH, world-renowned brand of French luxury goods, will be investing a whopping €450M (the largest privately funded construction project ever undertaken in Paris) to convert La Samaritaine department store, which closed in 2005, to one of their Cheval Blanc hotel properties.
The result will be a mixed-use complex with of course, a luxury hotel, which will be well located on the banks of the River Seine, close to the Notre Dame Cathedral and the Louvre. There will be 80 newly-designed rooms and suites; however, the Art Deco facade and the name "La Samaritaine" won't be going anywhere.
Construction is set to begin in July 2012, with completion targeted for 2014.
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