The Élysée Palace (French: Palais de l'Élysée; pronounced [pa.lɛ d(ə) le.li.ze]) is the official residence of the President of the French Republic. Completed in 1722, it was built for nobleman and army officer Louis Henri de La Tour d'Auvergne, who had been appointed Governor of Île-de-France in 1719. It is located on the Rue du Faubourg Saint-Honoré near the Champs-Élysées in the 8th arrondissement of Paris, the name Élysée deriving from the Elysian Fields, the place of the blessed dead in Greek mythology. Important foreign visitors are hosted at the nearby Hôtel de Marigny, a palatial residence.