Across Europe, many former industrial sites remain unused despite their historical and environmental value. In northern Italy, the redevelopment of the former Linificio Canapificio Nazionale (a historic textile factory) aims to transform an abandoned industrial complex into a vibrant and sustainable space for the local community. To support the project’s development and financing strategy, the project team sought advisory support from Green Assist.
Breathing new life into a historic industrial site
The former Linificio Canapificio Nazionale, located in Fara Gera d’Adda near Milan, occupies an area of around 63,000 square metres. Founded in 1870 to produce flax and hemp, the factory operated for more than a century before industrial activities ceased in 2008. Today, the complex still preserves much of its original industrial architecture and represents an important example of local industrial heritage.
The site is uniquely positioned between the historic town centre and the Adda river, surrounded by waterways and green areas. This setting gives the project both environmental and cultural value, combining natural capital with industrial archaeology. The goal of the project is to revitalise the brownfield site through the refurbishment and reuse of existing buildings.
A sustainable vision for the community and the environment
The redevelopment is based on a mixed-use concept designed to integrate new functions with the natural environment and industrial architecture. A central component of the project is the creation of a social and healthcare complex dedicated to elderly users.
In addition, the renovated buildings will include accommodation, recreational spaces and catering facilities to support local tourism and short-distance travel, including cycle tourism, while also providing new opportunities for the local community.
The redevelopment will also improve connections with the surrounding urban environment. Internal pathways will link the site with the existing road network, allowing the regenerated complex to become a natural extension of the historic town centre.
As part of the renovation, some structures and roofs will be demolished to create open-air courtyards with trees, reducing the built surface and allowing more space for green areas and pedestrian zones.
Green Assist to strengthen the project’s development strategy
To move the project forward, the development team partnered with Green Assist to receive specialised advisory services. Between July and November 2025, Green Assist experts provided tailored guidance to strengthen the project’s business model and financing strategy.
The advisory support focused on several key areas, including the refinement of the project’s value proposition, the development of its commercial offer, and the preparation of a comprehensive business plan. Experts also conducted market and sector analyses to better position the redevelopment project within the regional context.
In addition, Green Assist supported the project team in designing a robust financial model and identifying potential funding sources. This included guidance on financing strategies involving private equity, venture capital and crowdfunding mechanisms to support the implementation of the project.
Preparing the next steps
Following the Green Assist advisory services, the project is now progressing towards its next development stages. Key milestones include additional technical feasibility studies, the conclusion of strategic partnerships, and the validation of the project’s commercial offer.
With an estimated investment of around €80 million, the redevelopment has the potential to transform the former industrial site into a sustainable hub combining heritage preservation, community services and environmental value.
Green Assist aims to build a pipeline for high-impact green investment projects in sectors related to biodiversity, natural capital and circular economy, as well as ciovering the greening of non-environmental sectors.
Learn more about how Green Assist can help you get free tailored support for your green project or contact us at cinea-green-assist
ec [dot] europa [dot] eu (cinea-green-assist[at]ec[dot]europa[dot]eu). To request advisory services from Green Assist, simply fill out this short form.
