The Public Private Partnership for the Effective Enhancement and Management of Existing Property Assets: The Case of Torrevecchia Complex (Rome)

In the present research the analysis of the financial feasibility of a Public Private Partnership (PPP) intervention, related to the enhancement and management of a social housing complex, has been carried out. With reference to the redevelopment initiative of Torrevecchia area located on the western periphery of the city of Rome (Italy), the Discounted Cash-Flow Analysis (DCFA) has been implemented. The study aims to verify the efficiency in the use of the PPP operational tool through the assessment of the costs and the revenues deriving from the renovation and the expansion of the considered complex. In the analysis, a periodic fee paid by the Public Administration to the private investor has been considered and determined, able to ensure the financial sustainability of the initiative and to comply with the regulatory constraints in the Italian context. The redevelopment initiative analyzed demonstrates the relevant role played by PPP procedures in the context of urban regeneration and functional reconversion of collective interest properties, able to identify a compromise solution between the current contraction of the public spending capacity and the financial feasibility of the territorial investments.