As part of the Perspective EU 2025 forum, organized by THE PLAN and held in Venice in early May, the panel discussion titled How Much is Regeneration Worth: The Importance of Social Value in Urban Regeneration Processes, Between Real Estate Challenges and Design Solutions was held.
The conversation featured contributions from Federica Provaroni (Supernova), Sara Paganin (Finanziaria Internazionale Investments SGR), Anna Maria Pacini (DeA Capital Real Estate SGR), Gabriele Pelligrò (Artisa Group), and Filippo Gelosi (BNL BNP Paribas), moderated by Luca Giannelli (United Consulting).
Perspectives on the Value of Urban Regeneration
Federica Provaroni (Supernova)
“For us, investing in abandoned and degraded urban areas means reconnecting parts of the city that have been cut off, creating new gathering places. Social value is expressed through the creation of public and green spaces, which help reduce pollution and improve the healthiness of urban environments. Urban regeneration must focus on the well-being of citizens, generating healthy spaces and places for urban nature and social interaction.”
Filippo Gelosi (BNL BNP Paribas)
“A concrete example of urban regeneration is the new campus of ESCP Business School in Turin, an initiative that reflects the Bank's attention and commitment to the city of Turin and, more generally, to all initiatives that engage the community at national and local levels. Regenerating an abandoned building—otherwise a costly and decaying asset—transforms it into a public good open to the community. The key lies in swift execution and the ability to integrate the building into community life, reducing barriers and creating shared value. Indeed, the cost of not acting and missing an opportunity can be far greater.”
Anna Maria Pacini (DeA Capital Real Estate SGR)
“Our profession inherently brings benefits and social value, although it may be difficult to measure objectively, as many components depend on regulatory frameworks and variables beyond our control. I believe the most important aspect is to increase collaboration between public and private sectors, as this synergy can lead to more effective and sustainable results.”
Gabriele Pelligrò (Artisa Group)
“For us, social value is embodied in providing housing services to often excluded target groups, through inclusive and flexible housing models. Common spaces are central: they foster interaction among different communities, strengthening social cohesion. Ideal urban regeneration stems from collaboration between private and public actors, creating environments that promote inclusion and cohesion.”
Sara Paganin (Finanziaria Internazionale Investments SGR)
“Urban regeneration makes sense when it creates social impact. However, investors often focus mainly on the economic return. It’s the architect and the professionals involved who directly convey the vision of social impact, which is then translated into the business plan. Especially in smaller Italian cities, we struggle to attract investors due to a lack of patience for long-term returns. That’s where the real challenge lies: convincing stakeholders that social value and collective benefit are long-term investments.”
Urban regeneration creates shared social value. Public-private collaboration, swift intervention, and the ability to communicate social value are fundamental elements. When approached with an integrated and collaborative vision, regeneration can bring not only economic benefits, but above all social ones, helping to build more inclusive, healthy, and resilient cities.
Photography by Fabio Delfino
