Multicriteria Prioritization for Multistage Implementation of Complex Urban Renewal Projects

Renewal projects on neighborhood scale often include several sub projects aiming at fulfill the different functions of urban areas, while public funds or activated public-private partnership can be insufficient to face the implementation of subprojects simultaneously. Therefore single parts of wider projects are frequently realized at different period of time, according to the availability of public funds or the interest of private partners in the most profitable projects. Although a major organizational effort of funding could be necessary, a more rational approach is required, which will be able to identify the most suitable sequence of realization ensuring the greatest advantage if non completion of the entire urban renewal project occurs or during the time of its fulfillment which is usually long. This paper proposes a multi-criteria and multistage evaluation model supporting prioritization of sub-projects belonging to a wider renewal plan. The model is applied to a real world decision problem.