The value of university-driven urban transformation: a Benefit Transfer approach in the city of Turin

Brownfield regeneration is a debated topic in post-industrial cities, where major structural changes and disused areas can be used to improve urban quality, reconnect fragmented districts, and host new public functions. In this context, universities act as driving forces behind urban transformation, increasing the number of students in cities and the demand for cultural services, study spaces, student housing, and new urban hubs. However, there is limited quantitative data supporting the impact of university-led regeneration projects on the market. To fill this gap, the study proposes the application of the Benefit Transfer, grounded on the Hedonic Price method and Geographic Weighted Regression, to obtain the necessary information to transfer the real estate benefits associated with university-led urban regeneration projects. The methodology is tested using a real regeneration project in Turin (Italy), analyzing the impact on the surrounding residential properties. For this purpose, four university-led transformations that have already taken place in Turin were analyzed using real estate listings. The result shows positive effects in three out of four cases, generating a positive effect on price with respect to their proximity to the transformation, even though the outcome of the Geographic Weighted Regression suggests that this effect is spatially heterogeneous. This study contributes to the literature by extending the Benefit Transfer approach to university-led urban regeneration projects. No study has ever used the Benefit Transfer Method to predict the impact of a future university-led transformation. Additionally, the research provides valuable information to build strategies for sustainable planning of post-industrial cities.