In 1971, the Cooperative Society granted an option on the land to a real estate company, which planned to build a property development complex on the site of the former market. A number of prominent individuals got together to save the building. In 1972, Jo Dekmine wrote out a declaration of intent that the building was to be reassigned as a cultural centre. Thanks to the action of the Brussels French Cultural Committee (CCF), which purchased the building in 1975, Les Halles escaped demolition.
In 1983, the building was transferred on a long lease by the CCF to the French Community of Belgium. It is not a listed building but is included among the protected properties of the Brussels-Capital Region. In 1984-85, an initial renovation stage was begun by the French Community. This was concerned with drying the building out, renewing the frame and glasswork, the roofing, floorings and staircases and undertaking the re-building of the metal structure.
In 1994-95, the French Community embarked on the second stage, renovation and fitting out. This consisted of restoring the load-bearing elements of the building and building in a new frame for the fitting of a technical network and walkways. An independent structure was also built into the interior of the Grande Halle for sound insulation purposes. On the ground floor, sliding and insulating partitions allow for the use of various access routes to the auditoria. As well as a great deal of work of a technical nature (ventilation, electrical fittings, heating, controls, etc.), the façade was completely restored. The work was completed on August 8 1996. Some additional work to finish off the organisation of the Petite Halle was carried out in 1996-97.