Public real estate asset development is at the core of the agenda for both the Italian central government and local administrators. In many areas of the country, public real assets have changed their role and their function: public property represents no longer just a reserve of financial value and has become a resource for grass-roots social, cultural and entrepreneurial regeneration processes.

The aim of the paper is to investigate the nature of such initiatives. In particular, the purpose is to verify whether they are transient or long-lasting and if they can define a new frame for urban regeneration policies.

Ten case studies have been analyzed in order to reflect the great variety of experiences developed throughout Italy. The methodology we used integrates desk research and in-depth interviews with the project initiators and with local administrators.

The findings reveal contradictions reflecting cultural and administrative different options. Local governments entrust grass-roots public assets redevelopment for tactical or strategic reasons. In the first case, authorities-assuming a temporary market failure-may tactically grant the use of non-strategic assets to self-organized groups while waiting for a market recovery. In the latter one, local authorities-assuming potentially newurban regeneration models-pursue a strategic approach supporting bottom-up enhancement processes as a resource for the community development.

对于意大利中央政府和地方行政管理人员而言，公共房地产资产开发是议程的核心。在该国的许多地区，公共不动产已经改变了它们的作用和功能：公共财产不再只是金融价值的储备，而已成为基层社会，文化和企业家复兴过程的资源。

本文的目的是调查此类举措的性质。特别是，目的是验证它们是短暂的还是持久的，以及它们是否可以为城市更新政策定义新的框架。

对十个案例研究进行了分析，以反映整个意大利积累的丰富经验。我们使用的方法将案头研究和与项目发起人以及与本地管理员的深入访谈相结合。

调查结果揭示了反映文化和行政管理不同选择的矛盾。地方政府出于战术或战略原因委托基层公共资产重建。在第一种情况下，当局（假设是暂时性的市场失灵）可以在战术上允许自组织的团体使用非战略资产，同时等待市场复苏。在后一种情况下，地方当局（假设可能是新近的城市更新模型）寻求一种战略方法来支持自下而上的增强过程，将其作为社区发展的资源。