Cassa Depositi e Prestiti, together with the Cassa di Risparmio di Modena Foundation, will redevelop the former Manifattura Tabacchi in the Emilian city, a building owned by Cdp consisting of three different buildings: the main building (14 m12) already renovated and for residential use, a second building (1.300 m30) still to be restored, and a building area for commercial use of approximately XNUMX mXNUMX. CDP has already invested up to XNUMX million euros in this operation, envisaging further investments until the completion of the works.
The announcement came to Modena on Monday from the top management of the two groups, together with the Municipality of the Emilian city.
The industrial development project, according to the CDP, will give "citizens a gateway from the railway station to the historic centre, while at the same time providing quality spaces and pedestrian paths".
The works will begin immediately, while the marketing of the apartments will start from 2020. The redevelopment will take into account the principles of sustainability and will have the objective of equipping the main building "with modern facilities for residential services". The construction of a commercial plate is also planned.
Fabrizio Palermo, CEO of Cassa Depositi e Prestiti, commented: “The important urban regeneration work underway reflects our strategy for managing real estate assets from a sustainable perspective. We share the mission of supporting the local area with the Foundation of the Cassa di Risparmio di Modena, which is a fundamental part of our Business Plan and takes up the historic mission of the Cassa Depositi e Prestiti. Today, also thanks to the collaboration with the Municipality of Modena, CDP will complete an important investment that will allow the recovery and enhancement of a property with great historical and urban potential to be returned to the community.”
