SPIM, the body promoting the real estate assets of the municipality of Genoa, is soliciting bids for the redevelopment of the city's former fair ground, with an estimated value in excess of €200 mln.
In October 2017 architect Renzo Piano and the firm Renzo Piano Building Workshop drew up a plan known as 'Waterfront di Levante' that was donated to the municipality of Genoa, the Liguria region and the local port authorities.
The masterplan foresees the creation of a navigable canal on the 84,000 m2 plot flanked by new buildings. Given the site's city centre location, a mix of residences (equipped with private boat berths), hotels, offices, shops and recreational facilities are planned.
'This is a project of significant international impact, rendered unique by the vision of Renzo Piano. As Nomisma, we are pleased to have been able to provide our counsel as an advisor,' said Luca Dondi, CEO of Nomisma, which is advising SPIM.
According to an initial estimate, the overall value of the project exceeds €200 mln. Interested parties can submit expressions of interest up until 31 July, while a second phase in the autumn will call for binding bids. The winner will be selected by the end of the current year.
The City of Genoa has dedicated public funds available and will support the development of the project with key interventions, including the demolition of the elevated road facing the site which will be replaced by a tree-lined urban avenue. Further actions will involve the demolition and reclamation of part of the existing obsolete structures and the excavation of the first section of the navigable waterway.
