by InTrieste
In a significant step toward revitalizing a neglected waterfront area, the City Council of Trieste has approved an extensive urban regeneration proposal for the “Porto Vecchio – Porto Vivo” zone. This plan, presented by Everest Bertoli, the city’s Porto Vivo Commissioner, marks a pivotal moment for the 66-hectare site that has long remained inaccessible and abandoned.
The proposal, submitted on August 8, 2023, by the prominent real estate and urban regeneration firm COSTIM, was officially sanctioned today. The project, valued at over €600 million, will be executed under a Public-Private Partnership model in accordance with recent legislative frameworks set out by Italy’s Legislative Decree No. 36/2023.
Spanning an area of 66 hectares, the redevelopment plan envisions a transformative overhaul of Porto Vecchio, with an emphasis on sustainability, accessibility, and community integration. The project aims to reintegrate this once isolated waterfront into the fabric of Trieste, enhancing public access to the sea and creating a vibrant, multi-generational public space.
The redevelopment strategy includes expanding pedestrian areas, fostering high-quality urban environments, and incorporating research and innovation centers. The site’s proximity to the railway station is expected to bolster its connectivity within the broader intermodal transport network.
Before final approval, the proposal will be reviewed by local territorial districts and then presented to the City Council for a detailed feasibility and public interest assessment, slated for September.
COSTIM, a leader in the field of real estate development, is a subsidiary of POLIFIN, the holding company of the Bosatelli family. The firm is known for its focus on integrating industrialization and digital technology into urban regeneration projects. The Porto Vecchio project will reflect COSTIM’s commitment to a 100% ESG-compliant approach, ensuring that environmental, social, and governance factors are embedded throughout the development process.
The Porto Vecchio regeneration project not only aims to revitalize a key part of Trieste but also sets a new benchmark for sustainable urban development, showcasing the city’s ambition to blend innovation with heritage.
For further details on the project, visit Porto Vivo Trieste.
