EPFIRE On Field: The Renaissance of Torre Velasca Told by Hines

A hands-on learning experience led by Raoul Ravara, SDA Bocconi alumnus and Managing Director Asset Management Hines Italy, designed for participants of the Executive Program in Finance and Real Estate (EPFIRE). The visit offered the opportunity to discover Hines’ restoration project of one of Milan’s most iconic landmarks.

“We conceived the restoration of Torre Velasca so that the city could have a new, modern, and multifunctional hub — a place of connection, exchange, and vitality, not a monument to preserve.” — Raoul Ravara, Managing Director Asset Management Hines and SDA Bocconi Master in Real Estate alumnus, featured in the EPFIRE Special Seminar & Company Visit.

Starting from this vision, the Special Seminar & Company Visit on the Torre Velasca project by Hines — part of the 18th edition of EPFIRE, directed by Alessia Bezzecchi, Associate Professor of Practice in Corporate Finance & Real Estate at SDA Bocconi — offered participants a unique, immersive experience. The restoration of Torre Velasca, an architectural icon in the historic heart of Milan, became the centerpiece of a real-life case study, enabling direct interaction with the Hines team and Dr. Ravara himself.

Regeneration and Value Creation Strategy

Launched at the end of 2020, the large-scale redevelopment project led by Hines was conceived to bring one of Milan’s most recognizable buildings back to the center of contemporary life with a forward-looking vision. Inspired by the idea of creating a new destination to be experienced, the project respected the tower’s inestimable historical value. The goal: to return the restored Torre and its renewed piazza to the city, enhancing its urban context and strengthening its connection with Milan through:

• Redevelopment of Piazza Velasca:
  At the heart of the project is the fully pedestrianized public square, enriched with green areas, new meeting spaces, and urban furnishings. Designed as a lively, inclusive space, it reconnects the Tower to the city and its citizens, transforming it into a hub of relationships, exchange, and urban vitality.
• Interior Refurbishment:
  Respecting its original functions, Torre Velasca opens up to the public as a modern, multifunctional hub. Retail spaces have been expanded through efficiency improvements and the conversion of previously unused areas, including former technical rooms.
  Class A offices — with large windows and flexible layouts — coexist with a new lifestyle experience featuring the historic Pasticceria San Carlo, two restaurants operated by Sunset Hospitality Group, including the celebrated SUSHISAMBA on the first floor and MIA, a new Italian restaurant with panoramic views of the skyline and the Duomo, on the 18th floor.
  From the 19th to the 26th floor, METT Suites & Residences will host 72 units for both short and long stays, complemented by a membership club on the 17th floor and a wellness area with spa and gym in the basement.
• Sustainability and ESG Innovation:
  The restoration and modernization were developed in line with the highest environmental sustainability and energy efficiency standards, achieving LEED Gold certification.
  Balancing the preservation of iconic elements with the integration of advanced finishes, systems, and technologies, collaboration with the Milan Superintendency of Archaeology, Fine Arts, and Landscape ensured respect for the original 1950s design and the recovery of authentic architectural features.

A New Urban Role for a Milanese Icon

With its inauguration on May 15, 2025, an icon of Milan’s skyline has been reborn — with a renewed identity and a square open to the city. The project, the result of virtuous collaboration between public and private sectors, fully embodies Hines’ vision: breathing new life and value into a historic symbol by blending architectural and cultural heritage with advanced, sustainable technological solutions.

Experiential Learning and Direct Exchange

The seminar concluded with an engaging Q&A session between participants and the Hines management team.

Key discussion topics included:

• ESG strategy and collaboration with the Superintendency;
• Tenant mix management and appeal to international operators;
• Urban regeneration challenges and the balance between architectural preservation and economic value;
• Future value creation strategies and asset return prospects.

The meeting offered participants a concrete perspective on how strategic vision, financial planning, and urban sensibility can converge to create value in contemporary real estate.

A Laboratory of Knowledge and Networking

The day combined theory, practical application, and direct engagement with industry leaders — an “on field” experience that brought participants closer to the regeneration of a Milanese icon, demonstrating how history can once again become a driver of the future.

SDA Bocconi School of Management

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