Urban regeneration: when is it worth the investment?

Stefano Monti, partner at Monti&Taft, argues that urban regeneration projects often fail because they ignore the critical 'time of adherence'—the period after completion when a space must generate value. Citing an Italian Agency for Cohesion report, he notes public works under €100,000 take just over two years, while those over €100 million can take nearly 16 years. For projects between €500,000 and €1 million, design averages 2.7 years, contracting 0.7 years, and construction 1.6 years. Monti stresses that even non-profit initiatives must create sufficient benefit to justify costs, otherwise they merely displace problems. He calls for honest strategies that account for long-term risks and opportunities, warning that without genuine value creation, regeneration only builds new ruins.