Ex Manifattura Tabacchi Piacenza: agreement signed for the implementation of the PINQuA project using the full amount of 11 million euro

Piacenza, October 06, 2023 – An agreement has been signed at Piacenza City Hall between the City Council and Prelios SGR in its capacity as manager of the Estia Social Housing Fund for the implementation of the 11 million euro project awarded to Piacenza in 2021 under the PINQuA national innovative living quality scheme funded by Italy's National Recovery and Resilience Plan (PNRR).

 he agreement is part of the broader urban regeneration and city welfare project for the conversion of the former Manifattura Tabacchi factory. The site – between Via Montebello and Via Raffalda – is in the Infrangibile district adjoining the old city wall around the center of Piacenza, on an area of more than 58,000 square meters.

Prelios was responsible for the executive design of the school and gym, and provided the city council with a project for a public procedure. The project was developed by the Milan-based Onsitestudio Srl firm, which also handled the design of the private elements.

The redevelopment has already seen the demolition of the existing structures, the remediation of the area and the completion of urbanization works. The site will now be converted into a location intended largely for residential properties and social housing for sale or long-term rental.

The Estia Social Housing Fund, set up and managed by Prelios SGR and subscribed by Cassa Depositi e Prestiti through the FIA Housing Investment Fund managed by CDP Real Asset SGR, will build around 260 homes.

The offer will be a functional mix designed to respond to market requirements, with most units available for long-term rental, as well as commercial premises and services for the residents. The buildings will adjoin a park open to all Piacenza residents, which will make a significant contribution to enhancing the morphological features and quality of the project. Additionally, a management model will be set up combining the usual building administration and maintenance activities with a social project consisting of programs and activities to provide support and facilitate cohabitation, in order to meet individual housing needs and strengthen the residential community.

The new plan has the two-fold objective of improving a large location, with specific attention to environmental issues and energy efficiency, and contributing to city welfare by providing social housing in response to demand for housing stock. The entire project, for a total amount of more than 50 million euro, will be financed by the Estia Social Housing Fund.

The organization of the operation involved a broad public-private partnership, with the subscription of new Fund units by the City of Piacenza in addition to those already subscribed by the local Concopar consortium for the residential building contract. New Fund units have also been subscribed by the Fondazione di Piacenza e Vigevano, with interest expressed by other private investors.

The Gattamelata Associati and DWF law firms assisted the Estia Social Housing Fund during the drafting of the agreement.

Piacenza Mayor Katia Tarasconi said: “This is a very important day for Piacenza and its residents. On the one hand, it marks the successful conclusion of a long journey that proved to be extremely complex at every level and required extraordinary commitment from everyone concerned and especially from our municipal offices. On the other hand, after the vote in favor by the city council yesterday, it marks the start of the operational stage of a project that will transform the appearance of an entire district and, more generally, of the whole city. This is also thanks to the private investors who during the journey partnered the council I have the honor of representing.”

Roberto Reggi, President of the Fondazione di Piacenza e Vigevano, said: “Special attention to the vulnerable sections of the population through support for social housing development is one of our strategic priorities. By subscribing part of the Estia Social Housing Fund, once again our foundation is joining forces with a team of public and private bodies to play a supporting role in the start-up of a project the city has been waiting for for years. The work will combine urban regeneration with community welfare, to provide an important response to many requirements of the city.”

Alessandro Busci, Head of Fund Management at Prelios SGR, said: “Today's agreement is an important example of partnership between local bodies and private investors, made possible by Prelios SGR's intention of redeveloping the ex Manifattura Tabacchi area and restoring it to the city with a positive economic and social impact. It is a decisive step towards the implementation of a project for the environmental improvement and functional regeneration of a vital area in Piacenza, and the construction of a new school.”