Abstract
Over the last decade, Italian real estate market has been characterized by a steady decline in prices and housing demand; the phenomenon, conjunctural to a broader crisis of the European and global economy, has affected all intended uses and localizations, but mainly the residential sector. When the market is characterized by a strong uncertainty about the future of its prices and, consequently, about the risk on the use of capital, the assessment of economic and financial sustainability of real estate projects becomes crucial in order to operate the right investment choices. Both in public and private sectors, an intervention is considered sustainable when it is able to generate a total balance of the positive cash flows, and an annual percentage of return, that are greater than the ones that can be generated by alternative investments at low (or no) risk. Therefore, this contribution is the result of valuations of the economic and financial sustainability of some recovery and renovation’s projects, on the area of the former Tessitoria Schiatti, in Lentate sul Seveso (Italy), that have been carried out by students of Politecnico di Milano. Results that have been obtained confirm that, specifically because of the higher costs of the intervention determined by the reclamation of the soil, the feasibility of each proposed project cannot exclude the need of a public financial contribution that will be able to cover just their higher costs. DOI: http://dx.medra.org/10.19254/LaborEst.13.06
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