The Financial Sustainability of Cultural Heritage Reuse Projects: An Integrated Approach for the Historical Rural Landscape

In the last decades, the growing concern about land consumption, together with the awareness about cultural heritage's key role for sustainable development, has led to greater attention to cultural property reuse as a conscious process of new values production. However, decisions about heritage bring a high degree of complexity, related to the need to preserve properties' values and fulfill protection legislation, thus bringing high cost, which discourages public and private investments for reuse interventions. In this context, it becomes urgent to support reuse decisions through proper evaluation methodologies that, dealing with the complexity of interests at stake, allow individuals to assess the financial sustainability of conscious cultural heritage reuse projects. For these reasons, the paper proposes a methodological framework that, grounded on the recognition of cultural properties' values and their possible integration in the local economic system, assesses reuse projects' financial sustainability. This methodology's application is discussed through a case study, represented by a project for a historical rural landscape in Pantelleria island. The application to the case study allows us to discuss the role of the proposed evaluation framework in supporting and promoting cultural heritage reuse and its possible room for improvement.