Real Estate Assets for Social Impact: The Case of the Public …
85
– the targeted alienation of some assets that are more suited to the market to free up
resources to be reinvested in scheduled asset maintenance.
Under these conditions, it seemed more challenging to apply the best management
model from virtuous SGRs to the existing corporate structure.
In fact, ASP acts as a benefit corporation because it creates a sort of public
benefit in the community in which it operates and has a concrete positive impact
on people and the environment (an area that is certainly to be improved); in ASP,
“the shareholders” (and the citizens themselves) can also evaluate qualitative and
quantitative performances, based on declared objectives.
ASP was found to have all the features to accept the challenge of creating a
model of a Public Company of excellence, able to activate forms of private–public
partnership according to a welfare scheme that makes the most of its assets as a tool
to create positive impacts in the areas of corporate governance, human resources,
communities and the environment, through the services offered to the city of Bologna.
It represents the public subject that addresses its services to the weaker groups and
at the same time is able to specialize them toward more profitable areas in a dynamic
cycle, thanks to the variety and size of the real estate stock it administers in respect
of the legacy of those who have been able to donate to their own city.
The demonstrated ability to administer ASP with seriousness, competence, and
sense of responsibility of the people who work there, together with the vision of
governance, represents the virtuous case of Public Company, a best practice and a
scalable model in the more general society responsible for the provision of welfare
services.
References
ASP Città di Bologna. (2017). Bilancio Sociale. Available on http://www.aspbologna.it/bilanciosociale/asp-citta-di-bologna/bilancio-sociale/bilancio-sociale-2017.
Burns, C. M. (2002). Analysing the contribution of corporate real estate to the strategic competitive
advantage of organisations, working papers. Available at: www.occupier.org/papers/working_
paper10.pd.
Ciaramella, A. (2016). Corporate Real Estate. Strategie, modelli e strumenti per la gestione attiva
del patrimonio immobiliare aziendale. Milano: FrancoAngeli.
Huffman, F. E. (2003). Corporate real estate risk management and assessment. Journal of Corporate
Real Estate, 5(1), 31–41.
Pavesi, A. S., Ferri, G., Zaccaria, R., Gechelin, M. (2017). Abitare Collaborativo: percorsi di coesione sociale per un nuovo welfare di comunità. TECHNE Journal of Technology for Architecture
and Environment, 14 (Architettura e innovazione sociale. Firenze).
85
– the targeted alienation of some assets that are more suited to the market to free up
resources to be reinvested in scheduled asset maintenance.
Under these conditions, it seemed more challenging to apply the best management
model from virtuous SGRs to the existing corporate structure.
In fact, ASP acts as a benefit corporation because it creates a sort of public
benefit in the community in which it operates and has a concrete positive impact
on people and the environment (an area that is certainly to be improved); in ASP,
“the shareholders” (and the citizens themselves) can also evaluate qualitative and
quantitative performances, based on declared objectives.
ASP was found to have all the features to accept the challenge of creating a
model of a Public Company of excellence, able to activate forms of private–public
partnership according to a welfare scheme that makes the most of its assets as a tool
to create positive impacts in the areas of corporate governance, human resources,
communities and the environment, through the services offered to the city of Bologna.
It represents the public subject that addresses its services to the weaker groups and
at the same time is able to specialize them toward more profitable areas in a dynamic
cycle, thanks to the variety and size of the real estate stock it administers in respect
of the legacy of those who have been able to donate to their own city.
The demonstrated ability to administer ASP with seriousness, competence, and
sense of responsibility of the people who work there, together with the vision of
governance, represents the virtuous case of Public Company, a best practice and a
scalable model in the more general society responsible for the provision of welfare
services.
References
ASP Città di Bologna. (2017). Bilancio Sociale. Available on http://www.aspbologna.it/bilanciosociale/asp-citta-di-bologna/bilancio-sociale/bilancio-sociale-2017.
Burns, C. M. (2002). Analysing the contribution of corporate real estate to the strategic competitive
advantage of organisations, working papers. Available at: www.occupier.org/papers/working_
paper10.pd.
Ciaramella, A. (2016). Corporate Real Estate. Strategie, modelli e strumenti per la gestione attiva
del patrimonio immobiliare aziendale. Milano: FrancoAngeli.
Huffman, F. E. (2003). Corporate real estate risk management and assessment. Journal of Corporate
Real Estate, 5(1), 31–41.
Pavesi, A. S., Ferri, G., Zaccaria, R., Gechelin, M. (2017). Abitare Collaborativo: percorsi di coesione sociale per un nuovo welfare di comunità. TECHNE Journal of Technology for Architecture
and Environment, 14 (Architettura e innovazione sociale. Firenze).