The real estate property consists of a portion of the former Genoa Psychiatric Hospital, located east of the city centre. The area is directly connected to Corso Europa (to the north) and Via Maggio (to the south), the main roads of the city. The property can be redeveloped with a functional mix of uses, such as residential, advanced tertiary and tourist-accommodation.
The real estate property consists of a main building and some smaller structures for approximately 24,786 sqm of total gross surface area, built on a plot of land of approximately 55,000 sqm. The main building (Former New Institute), completed in 1933, consists of a single body with valuable architectural characteristics, divided into three aboveground floors and three blocks with a U-shaped plan.
The property is restricted pursuant to Legislative Decree no. 42/04.
The development project involves the establishment of predominantly residential destinations as well as tertiary and tourist accommodation. On 20 October 2017, the municipal council approved the Operational Town-Planning Scheme, providing for the possibility of establishing private functions such as office, residences and hotel accommodation facilities. In 2018, the town-planning agreement was signed with the Municipality of Genoa.
The unitary redevelopment project is aimed at the integral re-functionalisation of the complex through the establishment of research, innovation and training functions with residential, advanced tertiary and tourist accommodation components.
The property is located in the semi-central area of Genoa, in the “Quarto dei Mille” district, in a predominantly residential context. The property is 2 km from the “Genova Quarto” railway station, guaranteeing metropolitan and regional connections with Ventimiglia and La Spezia, and 10 km from the “Piazza Principe” station, on the main lines of the network. The property is approximately 11 km from the ferry terminal and 3.5 km from the “Genova Nervi” exit of the A-12 motorway, which connects the city with Rome. The “Cristoforo Colombo” international airport is approximately 16 km away.