Functions and perspectives of public real estate in the urban policies: The sustainable development plan of Syracuse

This study deals with the problem of the negotiation between public and private actors in the urban planning, in the case study of the Plan for the Sustainable Development of Syracuse (Italy). The contribution focuses on the modalities of execution of the Plan that envisages the tool of the Public-Private Partnership (PPP). The study intends to verify the equity of the negotiation mechanism and the advantage gained by the public actor from conferring two large buildings to a Real Estate Fund. The contribution is structured in three parts. The first part provides the general programmatic and valuation frame referring to the features of the area. It describes the overall development perspectives and therefore the whole process of real estate development that would be supported by means of the contribution of the fund. The second part describes the implementation of a cash flow analysis based on a hypothesis of use of the buildings previously outlined. The third part provides the elements of the analysis of the investment that are retroactive on the design hypotheses converging on the value assessed to determine the quota of participation of the Municipality in the Real Estate Fund.