Student Housing in the South: the renovation of a 500-bed building in Naples is underway

Student Housing in the South: the renovation of a 500-bed building in Naples is underway

First initiative of the iGeneration Fund managed by Investire SGR, with the participation of CDP Real Asset SGR, Fondazione con il Sud and other institutional investors

The work will take place at the former INPS headquarters in Via Ferraris 4 and will involve a total investment of around €40 million, to be completed by 2025
 

The renovation site of the first iGeneration Fund initiative starts up: the former INPS headquarters in Naples will be transformed into a university halls of residence capable of accommodating almost 500 beds.

The announcement was made this morning as part of a press conference organised by the City of Naples in the presence of Gaetano Manfredi, Mayor of Naples, Matteo Lorito, Rector of Federico II University, Giancarlo Scotti, CEO of CDP Real Asset SGR (CDP Group), Stefano Consiglio, President of Fondazione con il Sud, Domenico Bilotta, Managing Director of Investire SGR (Gruppo Banca Finnat Euramerica) and Ernesto Albanese, Chairman of Campus X.

The building has a total area of over 15,000 square metres and is easily accessible for all local universities thanks to its strategic location in Via Ferraris 4, close to the main railway station.

Its redevelopment is part of a wider urban regeneration plan for the entire eastern quarter of the city. The initiative aims to generate positive social and environmental impacts, in line with the socially responsible investment strategies of the iGeneration Fund1, which has committed around €40 million to the structuring and management of this first initiative and plans to complete the transformation of the building by May 2025.

The concept foresees the creation of a city resort with more than 353 rooms equipped with innovative technology and around 500 beds, aimed primarily at university students and secondarily at city users and young professionals, with a short term accommodation offer (hotel and hostel).

The structure will also include communal areas for users' residential use, as well as executive spaces reserved for structured co-working activities. The model therefore aims to be of a hybrid nature, promoting the building of a community, a physical driver of social cohesion, not only in a vertically - between the various users of the structure - but also horizontally, between the resort and the city of Naples itself.

The future management of the structure will be entrusted to Campus X, an Italian operator in the university accommodation sector which, together with Investe SGR, has overseen the long process of structuring the initiative to optimise the valuation of the asset also in terms of digital innovation and sustainability. Campus X is therefore continuing its expansion process, having already managed and implemented initiatives with around 5,000 beds and a consolidated pipeline that will lead to the target of 10,000 beds by 2026.
 

"This is our first venture in the South in the field of student housing and is an instrument that focuses on the future of young people and their educational journey. It is an acceleration of our strategy to support the social housing infrastructure, focusing on all the “3 S’s”, social, student and senior housing," said Giancarlo Scotti, CEO of CDP Real Asset SGR. “It is also a major urban regeneration project. We will be giving the city back a building that has been abandoned for some time, renovated to the highest technological and sustainability standards and perfectly integrated into the neighbourhood, with spaces open to citizens for co-working needs".
 
"Building a residence in the centre of Naples for students and young professionals is an important initiative for us for at least two reasons: not only as a form of investment, but also as an opportunity to have a positive social impact on the area," said Stefano Consiglio, President of the Fondazione CON IL SUD.
 
"After a long period of work in structuring the Fund and in the urban planning and construction of the building, we are proud to start the construction of the first initiative of the iGeneration Fund, but above all we are proud to invest in the City of Naples and to contribute to the promotion of the asset class of university housing structured from the South, in line with the objectives of the NRRP. We will be renovating a disused building to give it back it to the city, participating in the beneficial virtuous regeneration projects already planned for this area, and offering a structured residential offer with different levels of affordability, tailor-made for the students of tomorrow," said Domenico Bilotta, Managing Director of Investe SGR. 
Ernesto Albanese, Chairman of CampusX: “Finally, CampusX arrives in Naples. As a Neapolitan, I am particularly proud to announce that in 2025 we will open our first university halls of residence in the city. The Naples CX will be an international structure thanks to the variety and quality of the services offered to students and young professionals. A place where different cultures and experiences can come together, in an environment based on the values of sustainability and inclusiveness: very much characteristic parts of CampusX's DNA. We are convinced that this new university residence will also benefit the Neapolitan universities, further strengthening their ability to attract Italian and foreign students away from home".
 

1The Fund is classified in Art. 8 under the EU SFDR (Sustainable Finance Disclosure Regulation) and therefore intends to pursue management based on ESG principles.