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Social Housing: An Appraisal Model of the Economic Benefits in Urban Regeneration Programs

Author

Listed:
  • Lucia Della Spina

    (Department, Mediterranea University of Reggio Calabria, 89125 Reggio Calabria, Italy)

  • Francesco Calabrò

    (Department, Mediterranea University of Reggio Calabria, 89125 Reggio Calabria, Italy)

  • Alessandro Rugolo

    (Department, Mediterranea University of Reggio Calabria, 89125 Reggio Calabria, Italy)

Abstract

The decision-making process relating to Social Housing (SH) policies and projects involves social and urban transformations and is consequently linked to urban planning, urban regeneration projects, the dynamics of the real estate market and cooperation between public and private developers. Furthermore, this decision-making process must be supported by assessments relating to economic feasibility and assessments on social and environmental sustainability. The paper illustrates a decision support evaluation model for the implementation of integrated urban redevelopment programs related to Social Housing interventions to be implemented in PPP. The model is based on the search for an economic balance between the interests of the parties involved, with the aim of maximizing the share of housing in SH by minimizing the public contribution quota. The model was developed on a degraded settlement of Public Residential Construction, the subject of a wider urban regeneration program in the Municipality of Reggio Calabria (Italy). Considering the financial feasibility constraint for the developer and the conditions of the local real estate market, with the risk of the investment attached to it, the model makes it possible to verify the economic sustainability and the financial feasibility of the interventions in SH through the estimation of: (i) The profit of the developer/investor; (ii) the trade-in value to be paid to the developer against the investment; (iii) the maximum share of SH to be carried out in development. The research and the results obtained highlight the utility of the model and the ease of use in the programming phase, in relation to urban regeneration programs that involve interventions in SH.

Suggested Citation

  • Lucia Della Spina & Francesco Calabrò & Alessandro Rugolo, 2020. "Social Housing: An Appraisal Model of the Economic Benefits in Urban Regeneration Programs," Sustainability, MDPI, vol. 12(2), pages 1-19, January.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:2:p:609-:d:308502
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    References listed on IDEAS

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    1. David Edmund Allen & Elisa Luciano, 2019. "Risk Analysis and Portfolio Modelling," JRFM, MDPI, vol. 12(4), pages 1-4, September.
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    Cited by:

    1. Valeria Saiu, 2020. "Evaluating Outwards Regeneration Effects (OREs) in Neighborhood-Based Projects: A Reversal of Perspective and the Proposal for a New Tool," Sustainability, MDPI, vol. 12(24), pages 1-16, December.
    2. Manganelli, Benedetto & Tataranna, Sabina & Pontrandolfi, Piergiuseppe, 2020. "A model to support the decision-making in urban regeneration," Land Use Policy, Elsevier, vol. 99(C).
    3. Emmanuel Joseph Odoyi & Kirsikka Riekkinen, 2022. "Housing Policy: An Analysis of Public Housing Policy Strategies for Low-Income Earners in Nigeria," Sustainability, MDPI, vol. 14(4), pages 1-27, February.
    4. Lucia Della Spina & Claudia Giorno, 2021. "Cultural Landscapes: A Multi-Stakeholder Methodological Approach to Support Widespread and Shared Tourism Development Strategies," Sustainability, MDPI, vol. 13(13), pages 1-22, June.
    5. Guiwen Liu & Cheng Li & Taozhi Zhuang & Yuhan Zheng & Hongjuan Wu & Jian Tang, 2022. "Determining the Spatial Distribution Characteristics of Urban Regeneration Projects in China on the City Scale: The Case of Shenzhen," Land, MDPI, vol. 11(8), pages 1-27, July.
    6. Terence Fell & Johanna Mattsson, 2021. "The Role of Public-Private Partnerships in Housing as a Potential Contributor to Sustainable Cities and Communities: A Systematic Review," Sustainability, MDPI, vol. 13(14), pages 1-25, July.
    7. Grazia Napoli & Maria Rosa Trovato & Simona Barbaro, 2022. "Social Housing and Affordable Rent: The Effectiveness of Legal Thresholds of Rents in Two Italian Metropolitan Cities," Sustainability, MDPI, vol. 14(12), pages 1-32, June.

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