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New Projects for the New Genoa (Liguria, Italy)

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By : Massimo Viola    99 or more times read
Formed by the aggregation to the historical town of various coastal and inland hamlets, Genoa, the capital of Liguria, is undoubtedly one of the most fascinating cities in Italy, because of its unique ability to join together a modern and technological aspect, symbolized by buildings such as the Matitone and the WTC, a historical centre declared World Heritage by Unesco (via Garibaldi and the Rolli Palaces), sea districts such as Pegli and Nervi, a former fishing hamlet such as Boccadasse and again the hilly districts overlooking the city. Genoa is probably the only Italian town without a true periphery: in fact, also the external districts have the same character of a small city, with its own centre and ancient palaces similar to those you can find in the old town. If you add to this a very mild climate (the average temperature is about 7° in January and about 24° in July) you have the picture of a sea town with a rich historic tradition, with strongly differentiated areas, which might be ideal for a cultural vacation, or for a business congress, or for stay at rest.

After the great economic growth of the postwar years, Genoa had a crisis in the 80s, due to decline of the Industrial Triangle (Turin – Genoa – Milan). We can say that the renaissance of the city begins in 1992 with the Colombiadi (i.e. the celebrations for 500th anniversary of discovery of America) and the renovation of the Ancient Port by the Genoan world renowned architect Renzo Piano. In the same period, the first stations of the underground are inaugurated and the restructuring of Ducal Palace is completed. Genoa begins to reinvent itself as a city devoted to culture and leisure, rather than industry. The many ongoing projects demonstrate that Genoa is ready for change and is newly becoming attractive to foreign investments.

The renovation of Ponte Parodi is perhaps the most indicative project of the new tendency. Ponte Parodi was a large industrial area completely abandoned, in a critical position on the waterfront, between the Ancient Port and the ferry terminal. When the renovation is completed (2014), Ponte Parodi will be a large square on the sea, devoted to leisure, with three centres specialized in different topics (music and knowledge, sport, travels), restaurants and commercial services.

In fact Genoa is one of Liguria’s towns where the house prices had the greatest increase in last decade. It experienced a growth of 63% in the period 2004 to 2007, while prices were substantially stable in the years 2008 and 2009. At last, 2010 showed also a significant increase (around 11%, versus an average increase of 4% for Italy) in house transactions, which had been constantly declining since 2004. This is the main indicator of the property market recovery, which, after three years of substantial stability in prices, leads predicting a new period of rising. The 2010 Tecnocasa research, confirms an increasing interest by investors for districts boasting green areas, low traffic and reasonable prices, i.e. the west coast area (Sestri and Pegli), the east side from Marassi to Nervi, and the hilly area, such as the district of Apparizione.

Among the most ambitious residential projects, we should remember at least Torri Faro and the new Marina Genova Aeroporto. Torri Faro are two semicircular towers, containing about 145 apartments, under construction in the business district of San Benigno area, in a panoramic position in front of the Ancient Port, which lies on the opposite side of the bay. Marina Genova Aeroporto is the new marina built in a strategic position near the Genoa Airport and the motorway. It is capable to host boats up to 90 m long, with exclusive services for boating and leisure, and hosts a residential quarter (Borgo alla Marina) of 200 high quality apartments facing the sea.
Massimo Viola is the founder of Liguria for Sale, a web guide for people who want to buy a home in Liguria (Italy). The site has a specific section about Genoa & East Riviera.

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