New life for Manifattura Tabacchi of Piacenza

New life for Manifattura Tabacchi of Piacenza

Reclamation project presentation, promoted by CDP Investimenti: 260 social housing units, green areas and public spaces to support the city's welfare and contribute to the area's improvement

Rome February 5, 2019

CDP support for Italy's regions also includes redevelopment projects, investments that breathe new life to abandoned parts of cities.

The transformation of the former Manifattura Tabacchi of Piacenza is one such project, presented by Patrizia Barbieri, Mayor of the city, Erika Opizzi, Councillor for Urban Planning, State Buildings and Heritage of the City of Piacenza, Paola Delmonte of CDP Investimenti SGR and Massimo Dominici of Prelios SGR.

This reclamation project, "Le Case nel Parco", will redevelop an area of ​​58 thousand square meters, located with good access to the centre and within walking distance of the historical city walls. Key stages: demolition of existing buildings, reclamation of the area and the conversion of the site to solely residential. There will be green areas and shared public spaces: the complex will be built on the edge of a park and based on a programme management model which promotes coexistence.

The objective is to respond to housing needs for individuals, reinforce a sense of community belonging and to re-purpose abandoned public property. Estia Social Housing Fund will lead the project, with a total amount of over 45 million euros. The fund is set up and managed by Prelios SGR and 80% owned by CDP (through the FIA). Crédit Agricole Cariparma will take the role of financing bank.

The Fund will build a mix of 260 social housing responding to market needs with long-term rental units, as well as commercial units and community support services. The operation's structuring phase is also of interest as an excellent example of public-private partnership involving the area owners and investors. With this initiative in Piacenza, CDP confirms its role in supporting the country with initiatives that aim to breathe new life into the historic areas of cities.

The Manifattura were built in 1948 for raw tobacco storage and keeping, and to package and store these state monopoly products. This use came to an end in 2009 and with the help of CDP they will now be transformed for community use and the entire area will be redeveloped.