The rapid de-industrialization of Western economies has left an enormous impact on the urban landscape in Europe, leaving behind vacant warehouses and production facilities. Industrial sites reuse is a crucial issue for sustainable land and urban development. This work is concerned with the fundamental aspects of industrial heritage and the ways to incorporate brownfields back into the urban fabric as a value-adding element. Adaptive reuse represents the most sustainable form of reuse, as it is based on maximal conservation of built assets, minimizing time, materials, embodied energy waste, and preserving site identity. For industrial areas redevelopment and reuse often site remediation is required. This activity is usually designed, carried out and assessed before and independently from urban design, planning and real estate strategies. This independence leads to higher remediation costs and often implies demolition of built industrial infrastructures, preventing any potential adaptive reuse. The former industrial site of Acciaierie Lucchini in Settimo Torinese, just outside of Turin, offered the chance to test a holistic approach, based on the multidisciplinary integration of knowledge and skills during the whole design process in order to define real policy proposals trying to improve the technical framework for more sustainable reuse procedures. In the 93.000 m2 area, abandoned and left to degenerate since 2000, trading in ferrous materials and then steel manufacturing were carried out for over fifty years, leaving a legacy in the form of heavy metal contaminated backfill material and underneath soil. Isolation from the city centre, poor accessibility for pedestrians and the location within an industrial zone make this site inadequate for any form of residential development. Whereas re-industrialization of this brownfield can bring new value to the site, transforming the abandoned spaces into an innovative industrial hub able to combine logistic, production, leisure and temporary living, experimenting with mixed-use programs the new relation between innovative production and the city.
PurposeThis paper aims at investigating the possibility of effectively implementing the blockchain technology in the real estate environment, specifically applied to the Trust legal instrument in Dopo di Noi (After Us) project, which is intended to guarantee assistance to persons with severe disabilities.Design/methodology/approachThe paper is focused on how to apply the blockchain to the tool of Trust, analyzing the main features and characteristics of this technology.FindingsThe paper proposes two potential solutions for managing the Trust tool in the real estate sector, specifically within the Dopo di Noi project. The first simpler proposal is based on timestamping application. The second one radically changes the classical Trust model and introduces an automatization level in the process.Social implicationsThe paper presents potential applications of the blockchain technology within the framework of Dopo di Noi project, which allows among other features, legal and tax facilitation for the institution of Trusts to benefit persons with severe disabilities.Originality/valueThis paper highlights the potentiality of the combination of the blockchain technology and the real estate environment and applies the blockchain technology to the Dopo di Noi project. Specifically, with the second solution, the paper proposes a platform that gathers, in a single network, various elements of the blockchain technology, such as timestamping, smart property, smart contract, and links them in order to provide services to persons with severe disabilities.
Purpose In the light of contemporary tourist trends, this paper aims to provide insight on the topicality of the Albergo Diffuso Model, more than 30 years since this concept was developed. Design/methodology/approach The paper is not based on any particular methodological approach, as it is a practitioner viewpoint paper. It describes both, the contemporary tourist trends and the Albergo Diffuso Model, its main characteristics and some organizational issues. Findings The Albergo Diffuso is still a model worth implementing as it is relevant for the sustainable development of the Italian territory and of its treasures and to showcase the local traditions and the qualities of the Italian lifestyle. The Italian Government, too, has acknowledged its potential by means of some recent initiatives. Originality/value This paper highlights the value of the Albergo Diffuso Model as a tool to match the peculiar features of the Italian territory, local development and the contemporary tourist trends.
The phenomenon of urbanization of cities has been the subject of numerous studies and evaluation protocols proposing to analyze the degree of economic and social sustainability of development projects. Through careful research and synthesis of the theoretical framework regarding residential properties’ performance measurement and forecasting, this paper goes deeper into the proposition of property development as an asset class that represents the biggest share of the Italian property market and yet is avoided by the big portfolios. The analysis model was applied to the city of Milan and its Metropolitan Area. The method is based on the development of correlation indices to evaluate different behaviors, through time and a Geographic Information System (GIS) based on the Hedonic Price Method (HPM). Results from a hedonic model estimated for several recent years suggest that, depending on the particular view, the relation between the rent/price performance and the different external and intrinsic variables can represent a useful parameter for evaluating the feasibility of different real estate investments.
Purpose This study forms part of a larger project funded by Cariplo Foundation. The purpose of this paper is to focus on the scope to exploit the full potential and upgrade the functions of abandoned or under-utilized typical highland Alpine pasture systems (made by a complex of grazing fields, buildings for temporal animal and human recovery and dairy production, identified as Malga system or Alpeggio), by adopting the property investor’s point of view. Design/methodology/approach This study has adapted the traditional property development processes to rural buildings, thus generating an analysis model that proves able to define a new destination of use whenever the project considers the reuse of existing facilities. Findings The proposed model analyzes the technological, functional and territory features of the building to be upgraded, to assess the technical feasibility of the changeover project and identify the highest and best use of Malga-systems. The model has been applied to all the Malga-systems in the Orobie Bergamasche Park; it performed a comprehensive assessment of the development potential of the Malga-systems in the same Park. Research limitations/implications The design of the model took into consideration the specificities of the Orobie Bergamasche Park; nevertheless, the method can be taken as an example to be applied to any grazing land in the Alps. Originality/value This research provides the real estate market with a new analysis tool that is specific for the rural buildings, and suitable to streamline the procedures designed to upgrade these properties and to infuse new life into the territories that are experiencing a period of hardship and/or decay.
The report illustrate the results of the survey have been evaluated in the Research Project for Relevant National Interest “Metropolitan cities: economic-territorial strategies, financial bonds and circular regeneration”. Among its objectives, the research aims to represent a compendium of the financial picture, the economic dynamics and the territorial structure in which the new metropolitan institutions will operate, by means of the structural changes of economics and legislative system. The phenomenon of urbanization of the Metropolitan Cities is analyzed proposing a framework for the analysis of the real estate profile on a metropolitan scale, in order to understand the role of this entity in relation to the aspects of social cohesion and economic-environmental sustainability. Through the use of dynamic and interactive instruments, a reading system for the real estate market value profile in the metropolitan cities has been developed. The framework for the analysis of the real estate profile on a metropolitan scale is experimentally applied to the case study of Milan, but can be reproduced on a national scale.
The debate on public real estate enhancement is prominent and requires innovative strategies to assure economic and social sustainability. This article aims at systematizing the currently available methods and tools of public property enhancement in Italy, proposing a system of criteria to support the public administration (PA) in the decision-making process when managing public real estate enhancement oriented towards public utility. Namely, this article considers and assesses consolidated and innovative public real estate enhancement methods and tools currently available to the Italian PA according to the “endogenous criteria” of the real estate tools and “criteria of purpose” of the public administration promoting the enhancement process. The final aim is to support the decision-making process of PAs and help both public and private actors in grasping and managing the complexity of public real estate enhancement. An overview of the literature and of reference laws on public property enhancement builds the research framework, together with a path of research, dialogues, and fieldworks with the Italian State Property Agency (Agenzia del Demanio). The decision-making process of PAs for selecting a suitable enhancement strategy or tool should rest on endogenous criteria and criteria of purpose. Specifically: (i) the distinct technical features of each public asset; (ii) the public utility aim that the public entity intends to pursue; (iii) the needs of the community (i.e., the demand); (iv) the skills available within the PA that promotes the strategy.
In 2016, the Public Company for Social Services of the Municipality of Bologna "ASP City of Bologna" requires the ABC Department to analyze its huge real estate portfolio with the aim to identify efficiency strategies to free up resources to be reinvested in the offer of personal social services. Corporate governance sets up its strategy by coherently matching: the statutory values, the corporate mission and the growing need to respond to the needs expressed by the community in terms of providing personal services. The collaboration found strong foundations of understanding in the intention to pursue the mission of general social interest with environmental and economic sustainability, in a research path that made explicit the values of transparency and accountability of the Company. On the one hand, the research outlined the levers for making management, resources and processes more efficient, and on the other, strategies for enhancing assets in a social and circular economy perspective (see Bilancio Sociale ASP 2017).Keywords Evaluation and enhancement of real estate assets • Management optimization of public company • Real estate infrastructure for personal services • Models for the management of real estate assets • Social economy and circular economy 1 According to the ASP Statute, the Shareholders' Meeting monitors and controls the ASP's activity and performs various functions including: "[…] defines the general guidelines of the ASP; approves the transformation of the assets from unavailable to available, as well as the disposals of available assets […]."
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