Bottom’s Up at the Canal Saint-Martin

The Canal, satellite view

The Canal Saint-Martin is a side of Paris that most first-time tourists don’t take the time to see. It’s normally an oasis of calm for “Bobos”  — “bourgeois bohemians” — the young, urban, yet wealthy left-wingers. The terrorist attacks of November 13th took place just one block away from the canal (the corner of Le Petit Cambodge) and the Bataclan Theater which took the hardest hit that evening is right on the boulevard that covers the part of the canal that is underground.

The canal is 4.5 kilometers long and connects the Canal de l’Ourcq to the river Seine. Between Place de la Bastille and Place de la République (ending at rue du Faubourg du Temple) it spans both the 11th and 10th Arrondissements and runs underground. The construction of it was ordered by Napoleon I in 1802 as a way of providing fresh water and reducing disease. It was also instrumental in transporting food supplies and building materials by boat, with two ports established at the Port de l’Arsenal and the Bassin de la Villette. There are nine locks along the route which were modernized in 2008 and are now controlled remotely. It’s usefulness diminished over time and at one time was considered to be paved over to create a highway. Fortunately for us, that didn’t happen.

Tourist barges offer cruises and excursions to experience the serenity and beauty of the canal. This week however, the canal began undergoing a dredging for the first time in 15 years (something done every 10 to 15 years), unearthing a plethora of debris wedged into the sludge, creating a spectacle for Parisians. Looky-loos are out in force leaning over the railings on the bridges to see what’s been under the murky waters all this time.

The cleaning will take place over three months and is costing millions of euros. In the end there will be a full ‘inventory’ of refuge, already including scores of Vélib bikes, chairs of all kinds, shopping carts, street signs, suitcases, scooters and motorbikes, to name just a few. In fact, even a pistol was discovered among the debris. It’s being reported as such a treasure trove that there may be just about nothing missing, except the kitchen sink…although I bet, they’ll find one in the pile! The Bobo population is being blamed by the media, touted as a “dustbin for Bobos.”

The Bobos may not have much to look at for the next three months. Merchants with cafés, restaurants and bars along the canal are concerned about a drop in their business during this period, but perhaps the spectacle of it all which actually be even more enticing! Residents in the apartment buildings along the canal will have a bird’s eye view of the undertaking, which should provide entertainment if nothing else.

As a place to hang one’s hat, the Canal Saint-Martin is the jewel of the 10th arrondissement and not just for Bobos. The district is one of the most affordable real estate markets in Paris making even canal-side apartments a bargain. The buildings are a mix of 19th and 20th-century, providing a more contemporary lifestyle than in the nearby Marais, many of which have balconies where one can while away the hours taking in the ever-changing scene along the canal. Prices of property along the canal start at about 8,500€ per square meter.

But I warn you, apartments directly on the canal are plum and come available rarely. While it may be tough to find the perfect property, strong rental and resale are virtually guaranteed.

A bientôt ,

 Adrian Leeds
The Adrian Leeds Group

Respond to Adrian: [email protected]

P.S. Interested in an economical way to purchase an apartment in Paris? Just coming on the market is a re-sale share in the fractional property Villa Monceau at only $105,000! Details available on our Fractional Properties page or email Jennifer Murphy.