The area, covering 66 hectares, is currently dominated by mostly abandoned warehouse spaces.
The old port of Trieste is set to undergo a major transformation over the next decade. A new urban district will be developed on this degraded and long-abandoned area, featuring residential units, museums, hotels, restaurants, a new marina, a large park, and a beach. This new district will be connected to the city’s hinterland and Opicina by a new cable car. The entire project, valued at around 600 million euros, will be carried out through a public-private partnership.
The municipality of Trieste has announced a tender to select a private partner to collaborate on the revitalization of the old port area, located south of the main railway station. The site spans 66 hectares, currently occupied by mostly abandoned warehouses. According to the plans, the new district will feature 63,000 square meters of residential space (with at least 300 apartments), a hotel with 200 rooms, a student dormitory, museums, office spaces, restaurants, and a garage with 1,400 parking spaces.
Cable car connecting the city center and Opicina
The project also includes two new public squares and a central promenade. One of the key features will be a new marina with 500 berths. The district will also have a beach, recreational areas, sports fields, and a variety of seaside dining options. The city’s hinterland and the Karst region will be connected by a cabin cable car with four stations: Trieste center, Old Port, Bovedo, and Opicina. The cable car will be able to transport up to 1,400 people per hour, with the journey between Opicina and Trieste’s center taking just 16 minutes.
One question that remains is how this new connection will affect the historic Opicina tram, which was shut down in 2016 after an accident and remains closed despite significant investment in upgrades.
Challenges ahead
The primary uncertainty lies in the selection of a private partner, while other aspects of the project appear to be in place. The municipality has already begun work on the site’s infrastructure, and local authorities and the port authority have reached agreements on funding and ownership transfer. The project also has urban planning approval.
There is optimism, thanks to the interest shown by a major investor, Costim from Bergamo, which presented its vision for the area in August last year and has already invested over two million euros in the plans. The municipality expects to select the private partner this year, with construction likely to begin next year. Project leader Everest Bertoli emphasized that the public-private partnership contract will include safeguards to ensure the project proceeds efficiently, with the city retaining ownership of the land until contractual obligations are fulfilled.
Real estate in Trieste: affordable, but not as much as in the past
The days when you could easily find an apartment in Trieste for under 1,000 euros per square meter are long gone. Due to its coastal location, good connections, and rich history, Trieste has attracted both Italian and foreign buyers.
Source: Siol.Net
