Reuse strategy and management models for abandoned industrial areas. A case study in Yerevan

¹ NUACA, Chair of Economics, Law and Management, 105 Teryan str., Yerevan 0009, Armenia
² NUACA, Chair of Architecture and Design of Architectural Environment, 105 Teryan str., Yerevan 0009, Armenia

^* Corresponding author: ast.grigoryan@nuaca.am

Abstract

In the conditions of ever growing urbanization and increasing prominence of the sustainability agenda the issue of urban quality is subject to prior consideration worldwide. In this context the revitalization of abandoned industrial areas entails the reconstruction of buildings, structures and spaces with significant functional potential. This paper explores the methodologies proposed for the reconstruction of abandoned industrial areas in Yerevan, focusing on elaboration of the environmental-economic criteria. This approach aligns with the principles of sustainable economic and urban development, considering comprehensive impact on environmental, social, and economic aspects throughout the entire reconstruction process. The developed methodology offers an inclusive analysis of existing environmental-economic conditions of the abandoned industrial areas of Yerevan, ensuring compliance with current legal norms and standards. The applied calculation method uses an innovative analytical formula that enables investors to estimate the projected costs more accurately and precisely. It is proposed to apply a new application developed using BIM technologies which provides an opportunity to carry out a systematic assessment and analysis of abandoned industrial areas based on formula averaged values of environmental-economic parameters. The tool also facilitates development of a management model that will allow evaluation of the feasibility of abandoned industrial area reuse. The conclusions derived from this study offer an exceptional opportunity to identify practical and optimal solutions for regeneration of the urban built environment, guided by the principles of sustainable urban development and by careful consideration of potential risks.