Abstract

In the last decades, the growing concern about land consumption, together with the awareness about cultural heritage’s key role for sustainable development, has led to greater attention to cultural property reuse as a conscious process of new values production. However, decisions about heritage bring a high degree of complexity, related to the need to preserve properties’ values and fulfill protection legislation, thus bringing high cost, which discourages public and private investments for reuse interventions. In this context, it becomes urgent to support reuse decisions through proper evaluation methodologies that, dealing with the complexity of interests at stake, allow individuals to assess the financial sustainability of conscious cultural heritage reuse projects. For these reasons, the paper proposes a methodological framework that, grounded on the recognition of cultural properties’ values and their possible integration in the local economic system, assesses reuse projects’ financial sustainability. This methodology’s application is discussed through a case study, represented by a project for a historical rural landscape in Pantelleria island. The application to the case study allows us to discuss the role of the proposed evaluation framework in supporting and promoting cultural heritage reuse and its possible room for improvement.

Highlights

  • For these reasons, the paper proposes a methodological framework that, grounded on the recognition of cultural properties’ values and their possible integration in the local economic system, assesses reuse projects’ financial sustainability

  • The paper proposes a methodological path that, resting on the integration of different evaluation methodologies to address the complexity of the issue to be faced, approaches assessing the financial sustainability of conscious cultural heritage adaptive reuse projects

  • The decision context analysis represents the first step in the methodological framework towards assessing the financial sustainability of cultural heritage reuse projects

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Summary

Cultural Heritage Reuse

Publisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations. Questions about the trade-offs between retaining symbolic values and adapting to new uses often arise Such a turning point in the approach towards heritage assets, together with the extension of the value categories related to environmental and cultural assets [13,14], has triggered reflections about reuse as an opportunity for heritage conservation and economic development [15]. Finding an adequate balance between development and preservation when dealing with the widespread cultural heritage is still a challenging issue, especially in Italy, where the density and distribution of cultural heritage are the highest in the world Based on these premises, the paper proposes a methodological path that, resting on the integration of different evaluation methodologies to address the complexity of the issue to be faced, approaches assessing the financial sustainability of conscious cultural heritage adaptive reuse projects.

Cultural Heritage and Financial Sustainability
Cultural Heritage and Financial Sustainability: A Methodological Framework
Decision Context Analysis
Decision
Financial Sustainability Assessment
Risk Analysis
Why Pantelleria?
Pantelleria
The Project Area
The Terraces
The Dammusi
Definition and Study of Reuse Alternatives
Choice of the Favorable Reuse Alternative
Capital Goods Costs Appraisal
Operating Costs Appraisal
Revenues Appraisal
The Financial Analysis
Findings
Discussion of Results and Conclusions
Full Text
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